Recent analysis by FMI indicates that the global paper core market is projected to reach US$3.4 billion in 2022, with an anticipated CAGR of 4.9% from 2022 to 2030. The market’s expansion is primarily driven by the increasing demand for paper cores in various industries, including paper and pulp, textiles, and construction.
In the paper and pulp industry, paper cores play a crucial role in winding materials, facilitating effective storage and delivery. Likewise, the textile industry utilizes paper cores to wind yarn, thread, and fabrics for simplified handling and storage. Additionally, the construction sector employs paper cores to wrap insulating materials, providing ease and protection.
Paper cores, cylindrical tubes made of materials like cardboard and paperboard, are essential in the global supply chain for wrapping products such as paper, textiles, films, and tapes. The market is experiencing steady growth due to the rising demand for environmentally friendly and sustainable packaging solutions across multiple industries.
A key factor influencing the paper core market is the growing preference for sustainable and eco-friendly packaging options. Heightened awareness of environmental concerns, including plastic waste and carbon emissions, has led to a surge in the adoption of eco-friendly packaging materials. Recyclable, biodegradable, and reusable paper cores align with these principles of environmental friendliness and sustainability, contributing to the market’s growth and presenting further development opportunities in the future.
Regionally, North America leads the paper core market, followed by Europe and the Asia Pacific. The market’s growth in North America is driven by the increasing adoption of eco-friendly packaging solutions and the rising demand for paper and pulp products in the region.
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Key Takeaways from Paper Core Market:
- The Asia-Pacific is witnessing significant turbulence in the paper core market due to extensive usage in the textile industry, where more than 70% of packaging materials are made of paperboard and paper. With consumers seeking ‘value for money,’ the paper core market is expected to reach new heights in this region. China currently holds the first position in apparel exports.
- Europe holds the second-largest market share with more than 20%.
- North America is expected to maintain steady growth in the paper core market during 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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Region-wise Insights
Textile manufacturers in Europe and Asia are benefiting greatly from the use of paper and paperboard packaging, with over 70% of their packaging material being made from these materials. This has led to increased revenue and a growing demand for paper-based packaging products in North America, Europe, and Asia.
Paper core manufacturers are focusing on developing economies, particularly in the Asia-Pacific region, due to the growth in trade volume. Customers and end users in these regions prefer value for money, leading textile manufacturing companies to choose paper cores, especially those made from recyclable materials. Paper cores are being adopted by textile and ready-made garment manufacturers.
The Asia-Pacific region, especially APAC, is expected to have higher usage of paper cores due to their cost-effective nature. Paper cores are highly demanded in the Asian market, with countries like Bangladesh and China being major players in the global apparel export market.
In East Asia, there is high consumption of paper cores for paper and polyester packaging and decoration. This is due to their lightweight, unbreakable, and recyclable nature, along with excellent barrier properties against oxidation and temperature. The expansion of the paper and polyester industry in East Asia is expected to further drive the use of paper cores in the market
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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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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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