NEWARK, Del, March 02, 2023 (GLOBE NEWSWIRE) -- As per a report by Future Market Insights, the global specialty paper market is set to reach US$ 26.9 billion by 2033 from US$ 16.3 billion estimated to be recorded in 2023. The market is anticipated to exhibit growth at a CAGR of 5.1% between 2023 and 2033.
Specialty paper is set to be one of the most lucrative markets among other types of papers that are mainly used in packaging industries due to their various features. Specialty paper is used in packaging, printing & writing, building & construction, industrial, and other commercial applications.
Specialty paper comes with various added benefits such as moisture resistance, lightweight, waterproof, cost-effective, customizable, and others. It is available in numerous types as per the requirement of end-use application such as décor paper, Kraft paper, thermal paper, carbonless paper, and others. Specialty paper is also non-reactant in nature, which is suited for food & beverage packaging. Considering the overall benefits, the global specialty paper market is projected to experience soaring demand among several industries, especially packaging and building & construction.
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Over the past few years, specialty paper is gaining high popularity as it provides an aesthetic look to the product. It is also used for decoration and wrapping, which would attract numerous industries. Future Market Insights anticipates that there is an ample amount of opportunity for manufacturers of specialty paper in the next ten years. This growth is attributed to rising usage of specialty paper in various sectors. Demand for specialty paper seems to be lucrative across various regions.
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.
Get More Insights into Specialty Paper Market Report
Future Market Insights, in its new report, offers an unbiased analysis of the global specialty paper market, analyzing historical demand from 2015 to 2022 and forecast statistics for 2023 to 2033. The study reveals growth projections on the specialty paper market based on product type (décor, thermal, carbonless, Kraft), end-use application (printing & writing, packaging, building & construction, industrial), and region.
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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
Table of Content
1. Executive Summary | Specialty Paper Market
1.1. Global Market Outlook
1.2. Market Analysis
1.3. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation Trends
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About the Packaging Division at Future Market Insights
The packaging division at Future Market Insights provides an in-depth historical analysis and projections for the next ten years and covers the competitive landscape through a unique dashboard view. Ranging from packaging materials, packaging machinery to packaging designs & formats, Future Market Insights has an exhaustive database for these industry verticals, serving clients with unique research offerings and strategic recommendations. With a repository of 1,000+ reports, the team has analyzed the packaging industry comprehensively in 50+ countries. The team evaluates every node of the value chain and provides end-to-end research and consulting services; reach out to explore how we can help.
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Old Source: Specialty Paper Market Gains Growth Opportunities with Incorporation of Nano-Material and Composites: FMI Study
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