Pune India, Feb. 06, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the specialty paper market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the specialty paper market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as product type, raw material, end-user, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global specialty paper market are ITC Ltd., International Paper Company, Sappi Ltd., Glatfelter, Mondi PLC, Nippon Paper Group, Inc, Fedrigoni and Munksjo Group, Domtar Corporation among others. To achieve a substantial market share in the worldwide specialty paper market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Paper of particular properties and characteristics is called specialty paper. This paper is designed for a variety of uses, including water filtering, etc. When the paper is heated, the coating provides a clear and high-definition image. Several industries utilize specialty paper because of its properties, including packaging, labeling, healthcare, construction and laundry care. Moreover, specialty papers are impacted positively by the increase in e-commerce and logistics activities in the global economy, since the product can be used in a variety of ways, including packaging, storage, and transportation. As e-commerce grows across multiple countries, specialty papers for packaging and labelling are in high demand. In the next few years, the need for packaging and labelling of delivery goods is expected to increase substantially as home delivery services continue to become more popular. Among the fastest-growing segments in the e-commerce industry, consumer goods account for the largest share. This, in turn, is increasing market demand, since packaging and labelling generate the largest amount of revenue. The market is witnessing immense growth in the construction sector but there are some factors which are hampering the market growth. Factors such as rising concerns about deforestation, carbon dioxide emission etc. The market is growing because people prefer electronic communication over paper-based communication due to the growth of digitalization. Other factors hindering market growth include carbon emissions from paper manufacturing and deforestation, which harms the environment.
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Scope of Specialty Paper Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product Type, Raw Material, End-User, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | ITC Ltd., International Paper Company, Sappi Ltd., Glatfelter, Mondi PLC, Nippon Paper Group, Inc, Fedrigoni and Munksjo Group, Domtar Corporation among others |
Segmentation Analysis
Kraft paper is expected to be the fastest-growing segment in 2022.
The product type segment includes printing paper, décor paper, thermal printing paper, kraft paper and others. The kraft paper segment is expected to witness the highest growth rate during the forecast period. During the forecast period, the Kraft segment is projected to grow relatively faster, with wrapping and packaging as subcategories and sack kraft as subcategories. Due to its extensibility, printability, and strength equivalent to plastic or synthetic materials, Sack Kraft contributes significantly to the revenue growth of this segment. There is a wide range of uses for it in the construction industry.
Pulp is expected to be the fastest-growing segment in 2022.
The construction material segment includes coatings, fillers & additives, binders, pulp, and others. The pulp segment is expected to witness the highest growth rate during the forecasted period. Using mechanical and chemical processes, the pulp can be produced by separating the cellulose fibers from wood or waste paper. Various applications such as paper manufacturing, printing, and construction offer a rising market for pulp products. It is expected that the demand for pulp will increase in the forecast period because of its high processability, toughness, and stiffness.
Building & construction is expected to be the fastest-growing segment in 2022.
The end-user segment includes printing & writing, building & construction, packaging & labelling, industrial and others. The building & construction segment is expected to witness the highest growth rate during the forecasted period. A major consumer of specialty papers is the building and construction sector. They are widely used in wallpapers and decorative papers. During the forecast period, aesthetic products will be increasingly adopted in the construction sector, particularly in commercial and residential buildings. Furthermore, increasing innovation by market players in order to gain competitive advantage and expand their footprint will further drive market revenue growth.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the specialty paper market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The European region witnessed a major share. A growing number of online shopping portals and surging home deliveries in countries such as Germany and the United Kingdom are driving the growth of the European market, which accounts for the largest percentage of the global market. In addition, Europe is one of the world's largest paper processing and export markets, so it contributes significantly to its growth.
Country Analysis
- Germany
Germany's specialty paper market size was valued at USD 3.5 billion in 2022 and is expected to reach USD 5.09 billion by 2030, at a CAGR of 4.8% from 2023 to 2030.
A growing number of product developments will spur market growth and expand the industry. Advancements in technology of specialty paper are a substitute for increasing specialty paper market demand. As a result, manufacturers are developing more efficient, reliable, and convenient products to help drive market growth.
- China
China’s specialty paper market size was valued at USD 2.44 billion in 2022 and is expected to reach USD 3.5 billion by 2030, at a CAGR of 4.7% from 2023 to 2030.
Among the consumers, there is a huge demand for specialty packaging, and the rising demand for specialty paper as an ingredient in various packaging papers boosts the demand for specialty packaging.
- India
India's specialty paper market size was valued at USD 1.8 billion in 2022 and is expected to reach USD 2.5 billion by 2030, at a CAGR of 4.6% from 2023 to 2030.
During the forecast period, the region offers cooperative conditions for healthcare product development and commercialization with minimal barriers. Government research funding in this sector would drive demand for healthcare products.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising demand in the building and construction sector.
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