According to a survey by Future Market Insights, the worldwide speciality paper market is expected to grow from an anticipated US$ 16.3 billion in 2023 to US$ 26.9 billion by 2033. Between 2023 and 2033, the market is projected to increase at a CAGR of 5.1%.
Due to its many advantages, speciality paper is predicted to be among the most profitable markets among other types of papers that are mostly utilised in the packaging industry. Packaging, writing and printing, building and construction, industrial, and other commercial uses all require speciality paper.
Specialty paper has a number of extra advantages, including the ability to withstand moisture, be lightweight, waterproof, affordable, and customisable. It comes in a wide range of varieties depending on the needs of the final use, including décor paper, Kraft paper, thermal paper, carbonless paper, and others. Speciality paper is naturally non-reactive, making it ideal for packaging food and beverages. Given the overall advantages, the demand for speciality paper is expected to increase across a number of industries, including packaging and building & construction.
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Speciality paper has grown significantly in favour over the last several years as it gives products an appealing appearance. Also, it is utilised for packaging and decoration, which would draw interest from many sectors. According to Future Market Insights, the speciality paper industry will have plenty of potential over the next ten years. The increased use of speciality paper in numerous industries is blamed for this development. Premium paper appears to be in high demand in a number of areas.
Key Takeaways from Specialty Paper Market
- Décor product type segment is estimated to hold nearly 41% of share in 2023 and expand by 1.7 times the current specialty paper market during the forecast period.
- Based on end-use application, the packaging segment is expected to create an incremental revenue opportunity of nearly US$ 5.0 billion in the next ten years.
- India specialty paper market is estimated to generate a share of around 44% by the end of 2033.
- The USA specialty paper market is likely to expand by 1.8x the current value during the forecast period.
- Germany specialty paper market is anticipated to expand at a CAGR of 3.4% during the forecast period.
“The finest paper to use for creating decorative objects is a specialty paper with good printability. Due to urgent need for aesthetic goods that are both biodegradable and environmentally friendly, specialty paper enables producers to offer a wide range of products that are in high demand,” says a lead analyst at Future Market Insights.
Increasing Specialty Paper Demand from Shipping & Logistic Industry to Aid Sales
E-commerce has developed as a global marketplace for almost all people of the world. Due to worldwide shipping and payments system made user friendly, the e-commerce industry has witnessed tremendous growth in recent years.
Rising e-commerce industry means a surging demand for packaging materials to ship products in all parts of the world. Specialty paper offers a wide range of packaging solutions to the e-commerce industry, as well as shippers and logistics partners to package the final product while transiting. Growth of e-commerce has a direct positive impact on expansion of the specialty paper market. It is expected to generate high demand for specialty papers over the forecast period.
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Biodegradability and Emergence of Nanomaterials to Push Specialty Paper Sales in Untapped Areas
Paper produced by using wood and wood pulp as raw materials is an environmentally friendly product in comparison with plastic. The latter takes a long period to decompose. Molecular structure of specialty paper is very effective to develop newer variants of it, especially according to the requirement of end users.
Nanomaterials of specialty papers make it suitable for making several by-products from the paper itself. Large untapped markets can be a lucrative opportunity for all the key players in the specialty paper market. They can market their products as biodegradable and suitable for several applications.
Technological Upgradation of Paper Manufacturing Process Promises Future Growth
Initially, paper makers produced a large amount of waste as they lacked the right equipment for producing paper. The trash produced can now be used as a basic material to make papers or other commodities, which was previously impossible due to a lack of the necessary technologies.
Development of innovative paper manufacturing equipment has reduced waste in the process of generating paper virtually in half and enhanced productivity for paper makers. Technologically upgraded papermaking equipment would also give paper producers more manufacturing options. Future expansion in the specialty paper market would be ensured by rising industry standards and introduction of technological solutions.
Competitive Landscape: Specialty Paper Market
Mondi plc, Nippon Paper Industries Co., Ltd., Domtar Corporation, Stora Enso Oyj, International Paper Co., UPM¬-Kymmene Oyj, Ahlstrom¬Munksjö Oyj, Oji Holdings Corp., ONYX Specialty Papers, Inc., Potsdam Specialty Paper Inc., KJ Specialty Paper Co., Ltd., Nordic Paper AS, and Asia Pulp & Paper are key players operating in the specialty paper market. Tier 1 players in the market accounted for around 20% to 25% of value share in 2022.
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Specialty Paper Market Outlook by Category
By Product Type:
- Décor
- Thermal
- Carbonless
- Kraft
- Other Types
By End Use Application:
- Printing & Writing
- Packaging
- Building & Construction
- Industrial
- Other Commercial End Use
By Region:
- North America
- Latin America
- Europe
- Middle East & Africa
- East Asia
- South Asia
- Oceania
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Future Market Insights (ESOMAR certified 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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