Market Research Report
Specialty Paper Market Forecasts to 2028 - Global Analysis By Raw Material (Coatings, Additives), Type (Packaging Paper, Printing Paper), Application (Industrial, Packaging & Labeling) and By Geography
|Specialty Paper Market Forecasts to 2028 - Global Analysis By Raw Material (Coatings, Additives), Type (Packaging Paper, Printing Paper), Application (Industrial, Packaging & Labeling) and By Geography|
Published: March 1, 2022
Stratistics Market Research Consulting
Content info: 200+ Pages
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According to Stratistics MRC, the Global Specialty Paper Market is accounted for $13.06 billion in 2021 and is expected to reach $21.11 billion by 2028 growing at a CAGR of 7.1% during the forecast period. Specialty paper refers to a special grade of the paper that possesses specific properties and characteristics. It is designed for particular uses such as printing currency notes, packing beverages, water filtration, etc. Specialty paper provides enhanced moisture retention, pH levels, and hygiene which make it suitable as a packaging material in sectors such as food and beverage, lifestyle, and cosmetics. Apart from this, busy lifestyles have increased the consumption of instant tea premix sachets which are made from specialty paper.
The growth in demand and the rise in awareness among the people about specialty products are the major driving factors of the market. The special paper has much demand due to which the manufactures are sometimes converting the normal paper to special paper. These papers are available in special grades. Due to the rising end-use application and adopting a new lifestyle improves the significance of specialty papers market size.
The rise in availability of alternatives for the adoption of different industrial applications has restrained the expansion of specialty papers market growth. When the suppliers or the manufacturers failed to get the approval of marketing for regulating their product harms the business globally and regionally.
The rising online shopping sector in emerging as well as developed economies is a key driver for the global specialty paper market. The convenience of shopping online has led to a consistent rise in user figures for eCommerce portals, which has led to a corresponding rise in the demand for packaging materials and other materials required to transport and store the products. The specialty paper market has been a key beneficiary of these developments, as it has widespread utility in several parts of the online shopping sector.
Strict regulatory policies for the commercialization of the new products are the main challenging factor for the specialty papers market. The presence and the availability of the key players are the major challenges so faced in the market. Their competition in the market and their impact on the domestic and local sales channels are challenging factors in the market.
The decor paper segment is growing at the highest CAGR in the market due to its wide range of applications in flooring, paneling, and furniture surfaces. These papers are available in single color or are printed with a range of designs.
The kraft paper segment is expected to be the largest share in the market. An increase in demand for food packaging in emerging economies and developing retail infrastructure are driving the segment. Moreover, transformation in storage, distribution methods, and transportation is increasing the demand for this product type.
Europe is projected to hold the largest share in the market. Europe is the largest exporter of paper and is investing more in this business. The rise in online shopping, as well as the packaging and delivery of products in this region, is also boosting the growth of the regional market.
The Asia Pacific is projected to have the highest CAGR in the market. Key factors contributing to the regional market growth include growing population and rapid industrialization. The growth of the real estate sector in developing countries like India and China is driving the market due to its growing applications in electrical wiring.
Some of the key players profiled in the Specialty Paper Market include Asia Pulp & Paper Co. Limited, Domtar Corporation, Fedrigoni SPA, Glatfelter Corporation, International Paper, ITC Limited, LINTEC Corporation, Mondi Plc, Munksjo Group, Nippon Paper Group, Nordic Paper AS, Oji Holdings Corporation, Sappi Limited, Stora Enso Oyj, Twin Rivers Paper Company, and BillerudKorsns AB.
In May 2021: Mondi group introduced a new recycled containerboard machine called the PM19 paper machine at its facility in Slovakia with an investment of EUR 370 million to produce Kraft Top White products.
In April 2020: Nippon Paper Industries and its wholly-owned subsidiary, Paper Australia Pty Ltd, announced the completion of the purchase of Orora Limited's paperboard and fiber-based packaging business in Australia/New Zealand. Through the acquisition of the Business, Nippon Paper Group will be entering the integrated corrugated paperboard manufacturing business in the Oceania region.
In February 2020: Stora Enso announced that they have expanded their product portfolio of renewable packaging materials by the launching of new dispersion barrier materials for food packaging and paper cups. The expansion helps in increasing goodwill and generates revenue of the company in the market.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.