A recent analysis by FMI predicted that the size of the worldwide paper core market would be US$ 3.4 billion in 2022 and that it would increase at a CAGR of 4.9% from 2022 to 2030. An growth in demand for paper cores across a number of industries, including paper & pulp, textiles, and construction, is driving the market.
In the paper and pulp industries, paper cores are used to wind materials like paper, pulp, and other materials. Paper cores are often used to wind yarns, threads, and fabrics in the textile industry. Insulating materials are wrapped in paper cores and used in the construction industry.
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The paper core market is a crucial link in the global supply chain and a rapidly expanding industry. Paper cores, which are cylindrical tubes constructed of cardboard, paperboard, or other materials, can be used to wrap paper, fabrics, films, and tapes. The growing demand for sustainable packaging solutions across a number of industries, including paper & pulp, textiles, and construction, is fueling the market for paper cores.
The growing demand for environmentally responsible and sustainable packaging options is one of the major factors affecting the paper core industry. Utilisation of environmentally friendly packaging materials has increased along with public awareness of environmental issues including plastic waste and carbon emissions. Paper cores are a reusable, recyclable, and sustainable packaging option. They are also biodegradable.
In terms of regional analysis, North America, followed by Europe and Asia Pacific, is the region with the greatest market for paper cores. The expansion of the paper core market in North America is being driven by the rising adoption of eco-friendly packaging solutions as well as the rising demand for paper and pulp products in the region.
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In conclusion, the paper core market is a rapidly growing industry driven by the increasing demand for sustainable and eco-friendly packaging solutions across various industries. The market is highly competitive, with several key players operating in the industry. The increasing demand for paper and pulp products and the rising awareness of environmental issues are the major drivers of the paper core market. The market is expected to continue to grow at a significant pace in the coming years, driven by the increasing adoption of eco-friendly packaging solutions and the growing demand for paper and pulp products.
Key Takeaways from Paper Core Market
The Asia-Pacific is witnessing maximum turbulence on the account of paper core market. This could be attributed to the textile industry getting extensively benefited through the usage of paperboard and paper packaging, thereby stating that more than 70% of the packaging material is made out of paperboard and paper. Also, with end-consumers vying for ‘value for money’, the paper core market is expected to scale new heights in the near future, as far as this region is concerned. As of now, China is at the first position regarding exports of apparel.
- Europe stands second with more than 20% of the market share.
- North America is expected to go steady with paper core in the forecast period.
Competitive Landscape
Paper Core Market is a fragmented market. The top players account for 10-15% of market share in the global production while smaller players in the Tier 3 range account for 65-75% of total market share.
The key players operating in the market have strategic focus on acquisition and geographic expansion to gain competitive edge along with expanding their product portfolio to provide the customers with a wide range of products while smaller players focus on expansion by collaborating and merging with other players.
- Smurfit Kappa Group, in April 2020, did partner with KHS for launching the TopClip multipack solution to bundle canned beverages.
- Sonoco Products Company, in August 2020, did complete acquisition of Can Packaging for close to US$ 50 Mn with the objective of developing innovative (ultimately patented) technology to produce high-performance and recyclable all-paper package.
Key Players:
- Sonoco Products Company
- CPPC Public Co., Ltd
- Advanced Paper Tube, Inc.
- YAZOO MILLS Inc.
- Eerste Nederlandse Rondkartonnagefabriek B.V. (ENR)
- Smurfit Kappa Group
- Kunert Group
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Key Segments Covered in Paper Core Industry Research
Paper Core Market by Material Type:
- Kraft Board
- Virgin
- Recycled
- Paperboard
Paper Core Market by Diameter Type:
- 23 mm-76 mm
- 77 mm-152 mm
- 153 mm-229 mm
- 230 mm & above
Paper Core Market by Application:
- Paper & Polyester
- Winding & Rewinding
- Decoration & Specialty Paper
- Hygiene & Tissue Paper
- Printing & Coating
Paper Core Market by End-use:
- Paper & Polyester
- Electronic
- Textile
- Constructing
- Beverage Packaging
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