Global Paper Cone Market - 2021-2028
Global Paper Cone Market Overview
The global paper cone market size was valued US$ XX billion in 2020 and is projected to record growth by reaching up to US$ XX billion by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).
Spinning mills generally use paper cones for wrapping yarn. Yarn wrapped on paper cones is put in polythene packs and sold by spinning mills to various customers worldwide. The raw materials used for the production of paper cones include millboard, tapioca flour, dextrin starch. Paper cone pattern cutting, embossing, edge grinding, gluing, drying, winding, and nosing & base cutting are the prime processes involved in paper cone manufacturing. Paper cone is a yarn carrier with a tapered end consisting of eight main size variations starting from 1-degree 51-minute cones, 5-degree 57-minute cones, 3-degree 30-minute cones, 3-degree 51-minute cones, 4-degree 20-minutes cones, 9-degree 15-minute cones, 9-degree 36-minute cones, 7-degree 22-minute cones. Among the eight mentioned types of paper cones, the most popular choice is the 5-degree 57-minute cones.
Paper Cone Dynamics
The global paper cone market is driven by the increasing demand for paper cones in yarn in the textile industries for the past few years. Growing awareness among consumers about adopting sustainable raw materials and processes over other environmentally damaging raw materials such as plastic creates huge opportunities for the paper cone market.
The increasing demand for paper cones in yarn in the textile industry has built a huge business for the product in the past few years.
In 2017, India's textile industry was estimated at 150 billion dollars. However, by 2023, this amount is projected to grow to $223 billion. The industry's growth is due to growing demand from the fashion industry and the growth of e-commerce platforms in the past few years. Paper cone has played a vital role in the textile packaging industry. Also, increased emphasis on the paper cone decomposition method or process advancement is expected to boost paper cone products' consumption in the forecast period.
Growing awareness among the consumer towards adopting sustainable raw materials and processes over other raw materials such as plastic creates a huge opportunity for the paper cone market.
Various countries focus on adopting sustainable and environmental practices on a global scale while adding organic values to nature. Various companies are shifting from using plastic in their products to using sustainable raw materials for performing any process. The textile industry is one of the globally growing industries, and Asia-Pacific is among the world's top market share builders. The textile industries use paper cones instead of plastic cones in packaging applications as paper cones are more reliable, cause zero damage to the environment, and are available in various shapes and sizes. Besides, they are easy to use, have accurate dimensions, perfect weight and so on. The offered products are well known for their excellent result. They are highly effective, give excellent performance, are easy to operate and are easy to install compared to other types of cones available in the market. Thus, companies' growing interest in adopting a more environmentally friendly and cost-effective approach is more likely to create immense opportunities for the product to increase in the future market.
The release of high amounts of chemicals into the textile industry's receiving environment and insufficient raw material availability in the market immensely hamper the paper cone market's growth in recent times
The textile industry is the most prime consumer of the paper cone since its growth in different regions of the globe. Along with technological advancements in recent years, changes in the textile industry and many other industries have played a significant role in escalating environmental issues. The textile industry's main environmental impact is manifested by releasing high amounts of chemical loads into the receiving environment. Other important elements are high chemical and water use, energy consumption, air pollution, solid waste and odor formation. Furthermore, environmental issues related to the textile and garment sector started with drugs used in the cultivation of natural fibers. The emissions in the production of synthetic fibers hamper the growth of the product in the recent period. Thus, the textile industry's growing environmental impacts are directly responsible for hampering the industry's growth, thereby damaging the paper cone market in recent times. Also, not enough raw materials such as kraft paper in the market is another factor hurdling the growth of paper cones in the forecast period.
COVID-19 Impact Analysis
The effect of covid-19 on the packaging industry has a mixed impact, and different packaging end-users rely on their portfolios. During and after the pandemic, China is considered the leader in the packaging sector. The economy is likely to decrease by up to 50 percent as all the companies that depend on China for packing now move their businesses to other countries such as India. Furthermore, the global lockdown in 2020 has brought about several challenges, threatening the survival of various industries such as the textile industry. The paper cone and tube producers supply products to spinning, weaving and paper mills, pumpset units and any sector that needs packaging material to protect the product edges. Due to lockdown, paper mills have hiked raw material prices, citing a shortage of raw material. The availability of kraft paper is also low as the paper mills face labor and raw material shortage, thus severely hampering the paper cone market's growth in the year 2020-2021.
Paper Cone Market Segment Analysis
The global paper cone market is segmented based on type, taper of cone, size, packaging level, end-user and region.
Growing preference for functional foods, a large product portfolio, and easy product availability is triggering food and beverage packaging in recent times.
In terms of type, the global paper cone market is segmented into tight bong paper cones, jumbo paper cones, printed paper cones, bobbins, yarn paper cones, textile paper cones, conical paper cone, and others. Out of the mentioned types, the textile paper cone proliferates in recent years and is projected to maintain its dominance in the coming year. The segment's growth is due to the growing textile sector. The increasing demand for paper cones for spinning various threads creates immense opportunities for the segment to grow in the forecast period. Furthermore, the South Asian country is the world's largest producer of textiles and garments, growing at the fastest rate and expected to show significant growth in the coming years, thereby adding to the textile paper cone market's growth in recent times. In addition, various companies adopt sustainable practices to develop environmentally friendly products, thus creating opportunities for textile paper cones in the forecast period.
Paper Cone Market Geographical Analysis
Asia-Pacific has shown significant growth in the paper cone market in the forecast period due to increasing textile production and consumption in China, resulting in higher demand for paper cones.
Asia-Pacific has shown significant growth in the paper cone market in the forecast period due to increasing textile production and consumption in China, resulting in higher demand for paper cones. Furthermore, increasing business expansion and awareness among the customers creates immense opportunities to expand production in the region. Due to the availability of low-cost raw materials, China is leading the Asia-Pacific industry's growth, while Germany dominates the European market due to increased demand for the thread by textile manufacturers. The United States dominates the North American market due to the increasing use of paper cones in end-use goods.
Paper Cone Market Competitive Landscape
The paper cone market is highly competitive with the presence of local as well as global companies. Some of the key players contributing to the market's growth include Conitex Sonoco, Tubettificio Senese S.r.L, Sunnytexcone India (P) Ltd, Jaalouk & Co, Savio Texcone Private Limited, FAVRETTO, Bharath Paper Conversions, Saroja Texcone, Pacific Cones, JTS GROUP OF COMPANIES and among others.
The major players adopt several growth strategies such as product launches, acquisitions, and collaborations, contributing to the paper cone market's growth globally. The key players are adopting collaboration and acquisition as the growth strategy to build revenue for their system.
Overview: The Conitex Sonoco joint venture was formed in 1998 between Texpack, Inc., a Spanish-based global provider of paper-based packaging products, and Sonoco's North America textile cone business. The company is active in 13 global locations, with around 300,000+ tonnes of paper produced every year.
Paper Yarn Cones: The product guaranteed dimensional accuracy, is perfectly balanced & rounded, and has a plush surface. PLUSH® surface uses the fiber of the paper to provide a soft, clean surface that protects the yarn's quality while also providing outstanding holding capabilities for a proper start-up.
The global paper cone market report would provide access to an approx: 69 market data table, 72 figures and 217 pages.
Target Audience 2022
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