The global tracing paper market is poised for substantial growth, with its valuation set to increase from US$ 470.73 million in 2023 to US$ 597.91 million by 2033, expanding at a CAGR of 2.4% during the forecast period. The top three countries are projected to hold 30% to 40% of the global market share by 2023.
Core Concepts in the Tracing Paper Industry
- Market Valuation: The tracing paper market is valued at US$ 470.7 million in 2023.
- Prominent Market Players: Leading companies in the market include Koehler Paper Group and Domtar Corporation.
- Growth Potential: The market is expected to grow at a rate of 2.4% through 2033.
- Opportunities for Market Players: The rapid expansion of the construction industry is providing significant growth opportunities.
- Key Material Segment: The cellulose fiber segment is anticipated to remain the preferred choice through 2033.
- Construction Industry Impact: The booming construction industry is a key driver for the increased demand for tracing paper.
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Market Dynamics and Growth Drivers
In terms of thickness, the 81 to 100 GSM segment is expected to dominate the global market due to its lightweight and high-quality properties. According to Future Market Insights (FMI), this segment is projected to hold around 39% of the market share by the end of 2022.
The global market created an absolute dollar opportunity of more than US$ 449.2 million in 2022. Increasing demand for recyclable tracing solutions in various applications such as drawing, printing, and others is anticipated to propel sales. The market is thus estimated to grow 1.3 times during the foreseeable period.
Top Trend Boosting Sales in the Global Market
Rapid Expansion of the Construction Industry to Generate Higher Profits for Manufacturers
Tracing paper is generally smoother than conventional paper and offers stronger tear-resistant properties. It provides transparency, which allows for easy drafting, and is used in various industries such as construction & architectural drawing, digital printing & photography, and lamination & embossing films.
Recyclability and Sustainability
Cellulose fiber, the main material used in making tracing paper, is recyclable, adding to its sustainable footprint. Increasing demand for recyclable paper for tracing is expected to drive the market in the forthcoming years. Additionally, cellulose fiber helps absorb moisture, making it ideal for construction and architectural sectors where vellum paper is used for engineering and drawing purposes.
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Regional Outlook
The Asia Pacific Excluding Japan (APEJ) region is expected to dominate the global tracing paper market during the forecast period by accounting for the largest market share. Countries in the APEJ region such as, China and India, are expected to witness a significant demand during the forecast period. The ASEAN countries are projected to register a notable growth rate during the forecast period.
Western Europe is a significant shareholder of the global tracing paper market and is expected to register a healthy growth rate during the forecast period. The burgeoning printing market in North America is expected to drive the growth of the tracing paper market. The U.S. is expected to remain dominant in terms of market share, while Canada is expected to register a high growth rate during the forecast period. Japan is expected to witness positive growth in the tracing paper market during the forecast period.
Key Companies Profiled:
Koehler Paper Group; Domtar Corporation; Mitsubishi HiTec Paper Europe GmbH; Asia Pulp & Paper Ltd.; Pixelle Specialty Solutions; Nippon Paper Industries Co. Ltd.; Oji Papéis Especiais LTDA; Papeles y Conversiones de México; Reflex GmbH & Co. KG; Nekoosa Coated Products LLC; Thermal Solutions International Inc.; FILA-ARCHES sas; Arjowiggins; Jiangxi Five Star Paper Co. Ltd; Peters Papers; Yulu Paper Industry Co. Ltd; Double Tree Paper Industry Group Co. LTD; Qingdao Focus Paper Co. Ltd; Tekiner
Key Trends
Some of the key trends observed among the tracing paper manufacturers are listed below:
- Manufacturers of tracing paper such as, Papersmith and Mitsubishi Paper Mills Limited, are aiming to produce tracing paper from 100% recyclable fiber to save the energy which will ultimately make them virtually carbon neutral.
- Tracing paper manufacturers are focusing on the custom design of tracing paper in order to satisfy the need of the individual customers as per their precise requirement.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Tracing Paper Market Outlook by Category
By Thickness:
- Up to 60 GSM
- 61 to 80 GSM
- 81 to 100 GSM
- Above 100 GSM
By Material:
- Cellulose Fiber
- Cotton Fiber
- Recycled Fiber
By Application:
- Printing
- Drawing
- Photographic & Cinema Lighting
- Embossing
- Lamination
- Others (Greeting Cards, Envelopes, etc.)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- The Middle East and Africa (MEA)
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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