NEWARK, Del, Sept. 02, 2022 (GLOBE NEWSWIRE) -- The global tracing paper market is expected to be valued at US$ 459.7 Mn in 2022 with a rather stagnant CAGR of 2.4% over the estimation period from 2022 to 2032. The market size is anticipated to reach US$ 583.9 Mn by the end of 2032. The global market surpassed a valuation of US$ 449.2 Mn in 2021.
According to the historical projections by FMI, the tracing paper market was valued at US$ 449.2 Mn in 2021, at a CAGR of 1.0% throughout the historical period. The surging use of this type of paper for tracing an image or graphic is applicable in a wide range of industries which is likely to boost growth. The top 3 countries in the tracing paper market are projected to hold 30-40% of the global share by 2022.
When it comes to thickness, the 81-100 GSM segment is expected to possess the major portion of the global market owing to its lightweight and high-quality properties. According to FMI projections, this segment is expected to hold 39% of the market share by the end of 2022.
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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.
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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.
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
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
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