The global tracing paper market is poised for significant growth over the next decade, with a projected valuation of USD 597.91 million by 2033, up from USD 470.73 million in 2023. According to the latest analysis by Future Market Insights (FMI), the market is expected to expand at a CAGR of 2.4% from 2023 to 2033, driven by increasing demand for recyclable tracing solutions and the rapid expansion of the construction industry.
Market Highlights:
- Market Growth and Valuation:
- The tracing paper market is set to grow 1.3x over the forecast period, with the top 3 countries projected to hold 30 to 40% of the global market share by the end of 2023. The market’s growth is supported by the rising demand for high-quality, recyclable tracing paper in various applications, including drawing, printing, and technical design.
- Dominance of the 81 to 100 GSM Segment:
- The 81 to 100 GSM segment is anticipated to dominate the global tracing paper market, holding approximately 39% of the market share by the end of 2022. This segment’s popularity is attributed to its lightweight properties and high-quality performance, making it ideal for precision work in construction and architectural drawings.
- Impact of the Construction Industry:
- The construction industry’s growth is a key driver for the tracing paper market. Tracing paper is essential for creating accurate and detailed technical drawings, helping construction professionals save time and reduce costs. As construction and renovation activities increase worldwide, the demand for tracing paper in these sectors is expected to rise.
- Sustainability and Recyclability:
- Tracing paper is primarily made from cellulose fiber, a recyclable material that contributes to the product’s sustainable footprint. The increasing emphasis on environmentally friendly and recyclable products is expected to further boost market growth.
- Technical Drawing and Design:
- The growing popularity of coding in technical drawing and the need for transparent papers in construction drawings are anticipated to drive demand for tracing paper. Its smooth texture and tear-resistant properties make it a preferred choice for professionals in various industries.
Key Takeaways
- Surging demand for recyclable tracing solutions in numerous applications such as drawing and painting among several others is expected to fuel sales in the market. The market is thus estimated to grow at a 1.3x speed across the projection period.
- The rising popularity of coding in the field of technical drawing is yet another crucial factor in anticipating a boost in the global tracing paper market. Transparent papers are also required in the construction drawings for the creation of accurate and complete designs. Employees in the construction sector can easily find the edges in pictures and trace the image, which would save time and cost.
- Earlier, such papers were made for architecture and engineering design applications but now they are used in various industries as well. The smooth surface of tracing paper allows for tracing the image in lesser time and thus it would gain traction among end users.
- Such tracing papers are non-toxic in nature which contributes to the reduction of carbon footprints globally. The increasing need for moisture-resistant and recyclable tracing solutions is yet another factor responsible for bolstering demand in the evaluation period.
- The rise in demand for interior designs and expanding construction & architecture sector are anticipated to augment sales of tracing solutions such as carbonless paper across the globe. Furthermore, the surging interest of millennials and children in art and crafts is projected to accelerate growth in the market.
- Tracing paper is preferred over conventional paper as it is generally smoother and offers a strong tear-resistant property than the traditional one. It also allows transparency which helps in the production of an easy draft. Various industries use tracing paper such as construction & architect drawing, digital printing & photography, and lamination & embossing films.
- The prominent material used in the making of tracing paper that allows its recyclability is cellulose fiber. The efficient recyclability of this type of paper adds to its sustainable footprint. Increasing demand for recyclable paper for tracing would drive the market in the forthcoming years.
Competitive Landscape
Key manufacturers in the tracing paper market are concentrating on expanding their production capacities and resources in order to cater to the surging demands worldwide. Besides that, prominent market players are also focusing on mergers and acquisitions to strengthen their presence, expand their product portfolios, and boost resources.
More Insights into the Tracing Paper Market
Germany is projected to dominate the market growth in the European region, accounting for a total of 23% of the revenue share in the market across the valuation period. Expansion of the construction industry in Germany is projected to augment sales.
The Indian tracing paper market is expected to create a lucrative growth opportunity with a total valuation of US$ 16.7 Mn during the forecast period. The rapid expansion of the textile industry in the country is set to aid growth.
Access Full Report: https://www.futuremarketinsights.com/reports/tracing-paper-market
Tracing Paper Market Outlook By Category
By Thickness:
- Up to 60 GSM
- 61-80 GSM
- 81-100 GSM
- Above 100 GSM
By Material:
- Cellulose Fiber
- Cotton Fiber
- Recycled Fiber
By Application:
- Printing
- Drawing
- Photographic & Cinema Lighting
- Embossing
- Lamination
- Others (Greeting Cards, Envelope, etc.)
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- 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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