The global specialty paper market is estimated to grow with a CAGR of USD 4.1% throughout the forecast period, 2019 to 2025, to reach USD 36.4 billion by 2025, according to a new report released by Million Insights. This growth is attributed to the increasing need for labeling and packaging owing to rising e-commerce and food delivery services.
Rapidly growing e-commerce industry and consumer goods industry are proliferating the demand for such papers. Consumer goods are the most preferred items purchased through e-commerce platforms. Such products require effective packaging and labeling to ensure their safety.
Among different products, Kraft paper is likely to exhibit a CAGR of 5.0% over the forecast period. Increasing food delivery services in emerging countries such as India, China, Indonesia, and Brazil is attributing to the growth of Kraft paper.
The printing and publishing application accounted for the largest market share with 34.7% over the forecast period. However, this segment is showing moderate growth owing to rapidly increasing digitalization across industries. On the other hand, the packaging and labeling segment is projected to grow with a CAGR of 4.0% over the forecast period. Considering this, key players are focusing on investment in this segment. Mondi Group has invested significantly in quality Kraft papers as these papers are widely used across a variety of industrial applications.
Countries such as China, the United States, and Germany are the leaders in paper production and export. Europe tops the chart in paper production owing to the presence of various paper producing countries such as Finland, Germany, and Sweden. European countries together accounted for USD 90.7 billion paper shipment, in 2017. The Asia Pacific, on the other hand, is likely to grow with the highest CAGR throughout the forecast period. Some of the key players in the specialty paper market are Nippon Paper, Robert Wilson Paper Corporation, Griff Paper and Film, Domtar, Stora Enso, Fedrigoni, International Paper and Sappy among others.
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Further key findings from the report suggest:
• The demand for specialty paper was 20.3 million tons in 2018.
• Europe held the largest market share in 2018 in terms of volume and value.
• Décor paper held the largest market share in 2018 with a total share of 32.9%.
• The packaging and labeling segment is likely to exhibit a CAGR of 4.0% throughout the forecast period.
• Among different applications, printing and publishing segment occupied the largest share with 45.5% in terms of value and 34.7% in terms of value.
Million Insights has segmented the global specialty paper market on the basis of product, application, and region:
Specialty Paper Product Outlook (Volume, Million Tons; Revenue, USD Billion, 2015 - 2025)
Specialty Paper Application Outlook (Volume, Million Tons; Revenue, USD Billion, 2015 - 2025)
• Packaging & Labeling
• Printing & Publishing
• Building & Construction
Specialty Paper Regional Outlook (Revenue, USD Billion, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa