Global Specialty Papers Market - 2020-2027
Specialty papers are the special type of papers that are subsequently converted or manufactured to a specific usage. Specialty papers are either produced independently, or the ordinary paper is converted into specialty paper by coating/covering it with pulp chemicals and making it suitable for a specific application. Specialty papers have specific characteristics such as high opacity, lightweight which places them into a special grade as compared to normal packaging papers. It plays a significant role in packaging, printing, and industrial use. Food contact paper, decor paper, coffee and tea filter paper, and cigarette paper.
The global Specialty Papers market size was worth US$ XX billion in 2019 and further predicted to reach US$ XX billion by 2027, at a CAGR of XX% during the forecast period (2020-2027).
The specialty paper market has risen enormously in recent years following the fast adoption of packaging machineries and home delivery facilities in a number of sectors. Further, The booming demand for consumerism channels is thus likely to remain the key driver for the specialty paper market.
Growing demand in several end-use industries
Growth observed in the end-use industry, such as packaging and labeling, is expected to fuel the specialty paper market's growth over the assessment period, as packaging and labeling constitute almost 30-40% of the global specialty paper application. Changing lifestyles of people and the rise in elderly population are anticipated to increase the demand for specialty paper in the foodservice, packaging, and medical applications. Besides, rise in people's disposable income across the globe is estimated further to boost demand for specialty papers over the forecast period.
Increasing carbon emission may hinder the market growth
Growth in digitalization is one of the critical factors affecting the development of the specialty papers market as people prefer electronic means of communication over paper-based communication. Another factor responsible for hampering the market's growth is the emission of carbon during paper manufacturing and deforestation, which harms the environment. If worked upon, these factors can be solved with technological advancement and innovation in the paper manufacturing process.
COVID-19 Impact Analysis
COVID-19 pandemic affected the global supply chain in the specialty paper market due to disruption in various end-use industries. Due to COVID-19 various industries were shut down and halt their operations, which decreases the demand for specialty paper. Major end-use industries of specialty paper are printing and writing & packaging, and labeling. Printing and writing industry has severely affected the pandemic as consumer switches to digital platforms and demand for specialty papers has decreased with significant value.
Based on the product, the market is segmented into decor paper, Kraft Paper, printing paper and packaging paper,
Decor paper is estimated to dominate the global market
Decor paper is expected to hold the largest market share in 2019 in terms of volume and value due to its wide range of applications in paneling, flooring, and furniture surfaces. This segment is estimated to grow with a relatively high growth rate over the forecast period. Decor papers are available in a single color as well as printed with various designs.
Kraft paper is estimated to expand at the fastest CAGR over the assessment period due to the increasing demand for food packaging in emerging and developing economies. Retail infrastructure in the developing is driving the growth of the segment. Furthermore, distribution methods, transformation in storage, and transportation is increasing the demand for this kraft paper.
Based on the type, the specialty papers market has been classified into building & Construction, industrial, packaging & labeling, and printing & writing
Increasing demand for printing and writing application is anticipated to fuel the growth of the specialty paper market
The printing and writing application segment is expected to hold the largest market share in the global specialty papers market in terms of volume and value. Usage of specialty paper in security papers, cheque paper, currency, and postage stamps is anticipated to drive the growth of the market. In 2019, packaging and labeling held a considerable share of 25.0% in terms of volume.
Based on geography, the study analyzes the Specialty Papers market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Europe to account for the largest share of the global Specialty Papers market during the forecast period
Europe was the most considerable revenue generating market in 2019 and holds more than 30-40% share in the global market. Europe is the biggest exporter of paper and is investing more in this business. The ascent in the internet shopping, packaging, and delivery of products in this region, is likewise boosting the development of the regional market. Moreover, Middle East & Africa are expected to witness significant growth opportunities for the key players. Further, Asia Pacific is foreseen to grow at the most noteworthy CAGR of 5% from 2019 to 2025 in terms of value. Key factors contributing to the regional market development are increasing population and fast industrialization. The development of the land area in developing nations like India and China is driving the market due to growing applications in electrical wiring.
The Specialty Papers market is highly competitive, owing to the presence of big food brands. The key Specialty Papers players which are contributing to the growth of the global market include International Paper, ITC Ltd., Stora Enso, Nippon Paper Group, Mondi Plc., Sappi Ltd, Shanghai Haichuan Paper Industry Co., Ltd., Dongguan Chuyuanhui Packing Material Co., Ltd., Xiamen Huli Fengyi Industry Co., Ltd., Zhejiang Zunyi Crafts Co., Ltd., Nanning Lvshang Paper Co., Ltd., among others. The major players are adopting new product launch and expansion strategies for global growth in the Specialty Papers market.
International Paper engages in the manufacturing of packaging and paper products. The company operates through the following segments: Global Cellulose Fibers, Industrial Packaging, and Printing Papers. The Global Cellulose Fibers segment provides cellulose fibers product portfolio that includes specialty pulps and fluffs. The Industrial Packaging segment includes the manufacturing of containerboards, which include linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft. The Printing Papers segment embraces in manufacturing of printing and writing papers. The company was founded by Hugh J. Chisholm in 1898 and is headquartered in Memphis, TN.
Product Portfolio: The Company's portfolio comprises slotted boxes, telescope boxes, folders trays, die-cut interiors, flat sheets, retail packaging and displays fulfillment and assembly models, laminated bulk bins, wet application bulk bins, liquid bulk packaging, fiber tier sheets and pallet caps, specialty papers, among other
The global specialty Papers market report would provide access to an approx. 51 market data table, 45 figures and 230 pages.
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