New York, USA, Oct. 31, 2022 (GLOBE NEWSWIRE) -- Stone Paper Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Stone Paper Market Information by Material used, by Application, and Region - Forecast till 2030”, the market is estimated to grow at a 7.20% CAGR to reach USD 867.2 Million by 2030.
Market Scope:
Stone papermaking entails combining calcite limestone powder with non-toxic resin, such as HDPE (high density polyethylene), and other additives before melting them at high temperatures to create sheets resembling paper. Stone paper has almost identical qualities to regular paper, and even certain advantages. Because it does not rely on plant fibers for its base material, this paper is said to be more eco-friendly than traditional paper. It has a modest impact on global warming and is recyclable.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 867.2 Million |
| CAGR | 7.20% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Material used, by Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The increasing demand for the packaging and labeling industry is considered the major driving factor |
| The e-commerce sector and organized retails are adding fuel to the growth of the market. |
Competitive Dynamics:
Due to the large number of global providers, competition in the stone paper industry is fierce. Stone paper not only improves the finished product's visual features, but it also provides environmentally responsible and cost-effective packaging alternatives. Consumers' rising worries about the environmental impact of plastic packaging have boosted demand for stone paper around the world. Major key players of the market are -
- Stone Paper Company Ltd.
- Kapstone Paper
- Gaia-Concept BV
- Taiwan Lung Meng Technology Co. Ltd
- Sòluz Stone Paper S.A.
- Packaging Corporation and Parax Paper
Market USP:
Market Drivers
Coffee machines are becoming increasingly popular due to the rising demand for instant coffee in commercial settings such as offices, shops, and restaurants. Coffee makers are a convenient and easy way to save time and effort in our hectic lives. Market growth can be attributed to rising investments by coffee service providers to meet the growing demand for high-tech coffee brewing machinery. The end-users, such as hotels, restaurants, and cafeterias, are driving the expansion of the Coffee Machines Market. The desire for instant coffee machines that are always ready to go and produce consistent brews is driving the market forward.
It's true that everywhere you look, people are drinking more coffee at work. In addition, rising middle-class incomes, rising consumer spending on coffee machines, and rising preference for coffee among young people are the primary forces driving the global coffee business. Due to the rising popularity of coffee, the demand for coffee equipment is skyrocketing. The convenience and ease of use brought about by technology developments in coffee machines are helping to drive demand.
Market Restraints
Rising prices associated with the rising popularity of more sophisticated coffee machines are expected to restrain the market. The high price of these new and improved espresso machines may be a major obstacle, as it may dampen consumer enthusiasm. Number of espresso machine-focused private companies could serve as a barometer of market health across the study period.
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COVID-19 Analysis:
The lockdown in the wake of the COVID-19 outbreak has had catastrophic effects on a variety of businesses, what with the temporary closure of several assembly offices and the significant decline in consumer demand. The Coffee machines market Share has seen the effects of the SARS-CoV-2 epidemic, prompting businesses to focus more on shoring up their inventory chains and speeding up their activities to develop a broader range of products, to buy and capture the attention of the customers. Similar to how demand in various espresso machines, especially in corporate workplaces, is expected to grow now that the lockdown has been removed across nations and the innovative COVID has been dealt with.
Market Segmentation:
By Type
Filter Coffee Machines segment is slated to drive the market over the review period.
By Category
Fully Automated segment is poised to record substantial growth over the review period.
By End-Use
The commercial sector is anticipated to have a significant CAGR during the assessment period.
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Regional Analysis:
Throughout the study period, North America is expected to maintain its position as the market leader. In 2018, the United States and Canada were the leading supporters of the espresso machine market in North America, accounting for 34.93% of the market. Since numerous US-based producers have centered on expanding their customer bases by releasing innovative espresso machines with cutting-edge features, the US espresso machine market is predicted to be a frontrunner in the global espresso machine industry. Another factor strengthening the market's grip on the area is the growing number of espresso drinkers.
Rapid urbanization and a rising middle-income population in China, Japan, and India suggest that Asia Pacific will have the fastest CAGR between 2020 and 2027, at 5.82%. The increased disposable income of local consumers and the resulting increase in the number of restaurants, cafes, hotels, houses, and businesses all contribute to the area's rising market value.
In 2018, 33.0% of the global supply came from Europe, making it the leading market. The market is being propelled by the region's penchant for espresso. Having more venues to do business in means more product sales, and so do the numerous office complexes. From 2020 to 2027, the Asia-Pacific region will be the fastest-growing domestic market. The growth of the district can expect major backing from non-industrial nations like India, China, and Australia. The increasing availability of eating establishments, especially in developing countries, will further contribute to the momentum. Market growth is likely to be aided by the presence of major restaurant chains like CCD and Starbucks, who are investing in the area because of its strong growth potential.
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