Home / Press Release / Specialty Paper Market to Grow at an Estimated CAGR of 6% During the Forecast Period 2022-2030

Specialty Paper Market to Grow at an Estimated CAGR of 6% During the Forecast Period 2022-2030

The market for specialty paper is expected to grow at a CAGR of 6% during the forecast period of 2022 to 2030.As a result of a growth in the number of businesses that offer home delivery services, there is currently a greater demand for the packing and labelling of the goods that are sent out for delivery, and this demand is anticipated to increase dramatically over the course of the next few years. The consumer products market category is the one that is expanding at the fastest rate and accounts for the largest share of the overall e-commerce market. Because of this, market demand is growing, which is good news for those who work in the packaging and labelling sector of the global industry, which is the primary source of revenue for this sector.

The increasing need for packaging, the rise of the e-commerce industry, and the research and development of more environmentally friendly packaging solutions are the primary drivers driving the increase in market revenue. It is anticipated that an increase in the utilisation of a variety of specialty papers, such as decor, release liner, packaging, thermal, printing, and kraft, amongst others, will fuel demand for the product. They have certain application-oriented traits and properties, and they vary depending on the regions in which they are used. In order to keep them, it is vital to boost monitoring, which is also essential for improving quality.

Specialty papers are specialised kinds of paper that are designed to be used for particular kinds of end-use applications. These papers have a variety of distinctive qualities and characteristics, such as distinctive finishes, barrier properties, print quality, strength, ultra-lightness, inkjet printing, and superior performance, to name a few. The non-biodegradable nature of plastic and metal wrapping has contributed to increasing problems with landfills and waste management. The eco-friendly appeal of paper and paperboard has contributed to its acceptance and widespread penetration in the global market, which has helped to alleviate some of these problems. Continuous advancements in the material science of recycled paperboard have made it possible for the industry to expand into new application markets. Some examples of these new markets include packaging for frozen foods and healthcare products.

Due to strict packaging criteria for food and non-edible goods, high-quality specialty papers are employed. Food and Drug Administration (FDA) and European Commission guidelines for food safety and preservation will boost industry by 2030. All industries demand different volumes, shapes, and lengths of paper, resulting in strong global product demand. There will be an effect on the market as a result of the rapid expansion of sustainable packaging for the purpose of protecting the environment and lowering ecological footprints. Increasing government measures to mitigate environmental impacts and the promotion of ecologically friendly alternatives to widely used plastic packaging materials are expected to fuel market expansion. This will be crucial.

The rise in e-commerce and logistics is helping the specialty paper sector. This product is used for packing, storing, and transporting in this industry. E-commerce growth in several nations is driving demand for packaging and labelling specialty papers. Rapid technological advancement, user-friendliness, social media integration, and accessibility are driving this industry's growth. Many end-use industries are adopting e-commerce due to its many benefits. Quicker B2B sales cycles, less entry hurdles, and simpler international expansion are perks. Asia-Pacific e-commerce has grown in recent years. India Brand Equity Foundation expects that Indian e-commerce will be $46.3 billion in 2020. This number might reach $111.40 billion by 2025 and $350 billion by 2030.Both established and growing nations are witnessing a building boom. Masking tapes are used for designing, painting, and marking and are made from specialised sheets. Masking tapes are made from these sheets. As the number of building and infrastructure projects rises, masking tape demand and usage explode. The development in the building and construction sector is pushing demand for masking tapes, which would likely benefit the specialty paper market.

Paper and pulp are one of the most heavily regulated sectors in the U.S. and Europe. In the U.S., government authorities have put a variety of restrictions on the industry to make workplaces safer and to offset paper manufacturing's negative environmental impact. These laws and regulations have increased expenses for many companies in this area. The EPA of the US developed printing and writing guidelines. These standards advocate expressing minimum content criterion as a percentage of recovered fibre, including after-consumption fibre. These printing and writing guidelines were introduced. Therefore, strict rules may slow the sector's revenue growth.

Décor Paper had the greatest sales share in 2021 since it's utilised for flooring, panelling, and furniture surfaces. These papers can be single-colored or printed with patterns. During the forecast period, kraft paper is expected to increase at a 5% CAGR. Demand for food packaging in emerging nations and retail infrastructure expansion are driving category growth. Changes in storage, distribution, and transportation are also driving demand for this product category.

Packaging was the largest end user of specialty paper in 2021, followed by printing and writing and building and construction. Each subcategory's market share in 2021 will be 35%, 26%, and 18%. Numerous end-use sectors, including food and beverage, personal care, household, healthcare, and others, will continue to need packaging to preserve the quality and safety of their goods. Due to these considerations, packaging is expected to have a high CAGR from 2022 to 2030. Increasing demand for attractive interiors will boost sales of specialty paper in building and construction.

Pulp generated the most revenue in 2021. Pulp is a fibrous lignocellulosic material made by separating cellulose from wood, fibre crops, or wastepaper. Paper, packaging, and other items are made from pulp. Pulp production boosts building, printing, and paper manufacturing. Pulp's high processability, toughness, and stiffness should increase demand over the projection period.

North America contributed 25% of total sales in 2021 and is expected to grow faster from 2022 to 2030. U.S. and Canada are the region's biggest revenue contributors. The U.S. has a substantial pharmaceutical sector. The region's cooperative ecosystems make healthcare development and commercialization easier. Government research funding would drive product demand during the anticipated period. Eating on the move is predicted to propel the use of speciality papers in the region throughout the forecast period, along with the rise of the foodservice industry. The average American will spend $70,000 on takeout and delivery, according to Home Chef. Strategic acquisitions are a lucrative approach for market participants to enhance their market position in the region, so they're using them. Pixelle Specialized Solutions acquired Verso's specialty paper factories in 2020. This move increased the company's yearly manufacturing capacity to 1 million tonnes. The quick-service restaurant industry is also growing (QSR). This should boost the market during the analysis time.

Asia Pacific is anticipated to expand at a CAGR of 6.5% from 2022 to 2030. Rising population and industrialisation speed up the market's growth. The market is driven by the growth of the real estate sector in India and China. Online shopping and advancements in product packaging and delivery are also boosting revenue growth in APAC. The rise of the real estate sector in India, Japan, and China is driving demand for electrical wiring. High demand for banknote, passport, and stamp watermarks and holograms drives India's security paper business. This tendency should increase product demand over the projection term. Increased legal expense on litigation, documentation, and licencing undoubtedly drives the country's strong demand for security papers. This has raised demand for legal documents nationwide.

Due to a high number of major and small enterprises, the market is fragmented and has severe rivalry. Specialty paper producers are emphasising recycling and environmental friendliness to extend their consumer base. The market's biggest players are focusing on differentiating and upgrading their offerings. Domtar, Glatfelter, Mondi, Sappi, Fedrigoni, International Paper Company, Nippon Paper, Stora Enso, Robert Wilson Paper Corporation, and Griff Paper and Film are market leaders. Some of the market's biggest players contribute to its fierce attitude. Businesses are emphasising product development and innovation to get a competitive edge. Mondi Group and other key industry players are also developing high-grade kraft paper. Key competitors in the speciality paper market are launching new products to extend their product portfolios and address growing end-use demand. Manufacturers seek strategic partnerships and acquisitions to boost their worldwide footprint and production capability.

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