According to Future Market Insights’ survey, the global specialty paper market is projected to experience significant growth, increasing from an expected value of US$16.3 billion in 2023 to US$26.9 billion by 2033, with a compound annual growth rate (CAGR) of 5.1% during the period from 2023 to 2033.
Specialty paper is expected to be a highly profitable segment within the paper industry, particularly in packaging, due to its numerous advantages. It finds applications in packaging, writing and printing, building and construction, industrial, and other commercial uses. Specialty paper offers benefits such as moisture resistance, lightweight nature, waterproof properties, affordability, and customizability, making it ideal for various specific purposes.
The demand for specialty paper is projected to increase across industries, driven by its overall advantages and specific end-use requirements. Its popularity has risen due to its ability to enhance product visual appeal, making it widely used for packaging and decoration purposes.
Key Takeaways from the Specialty Paper Market Study:
- The décor product type segment is estimated to hold nearly 41% of the market share in 2023 and is expected to expand by 7 times the current specialty paper market during the forecast period.
- The packaging segment is expected to create an incremental revenue opportunity of nearly US$ 5.0 billion in the next ten years based on end-use application.
- The specialty paper market in India is estimated to generate a share of around 44% by the end of 2033.
- The USA specialty paper market is likely to expand by 1.8 times the current value during the forecast period.
- The Germany specialty paper market is anticipated to expand at a CAGR of 4% during the forecast period
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“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.
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.
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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.
Specialty Paper Market Outlook: Lucrative Markets and Growth Drivers
USA: The USA is a highly lucrative market for specialty papers, benefiting from the presence of leading packaging players and a well-established food & beverage industry. The demand for printable specialty papers is expected to surge among USA-based food companies.
Germany: Germany holds a significant portion of the specialty paper market in Europe, driven by the building and construction sector’s demand for energy-efficient buildings. The growth of decorative interior trends in the construction industry fuels the demand for specialty paper.
China: The specialty paper industry in China is experiencing exponential growth, driven by the preference for natural and healthy food and attractive packaging. Specialty paper suppliers are witnessing increased demand from the expanding food manufacturing sector in China.
India: India is emerging as a prominent market for specialty papers in South Asia, driven by the growing packaging industry in sectors such as food processing, e-commerce, and healthcare. The demand for specialty paper for food product packaging and wrapping is expected to rise with the increasing consumption of packaging in the food industry
Key Insights: Specialty Paper Market Trends, Technological Advancements, and Product Launches
The report provides key insights into the specialty paper market, including emerging trends, advancements in production technologies, and new product launches. Stakeholders can leverage this information to make informed decisions, enhance efficiency, and capitalize on growth opportunities in the industry.
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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
About FMI
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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