New York, United States, Dec. 05, 2023 (GLOBE NEWSWIRE) -- The Global Specialty Paper Market Size to Grow from USD 25.2 Billion in 2022 to USD 38.6 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 3.9% during the forecast period.
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Speciality paper is a class of paper that is made for particular, specialised uses or applications, going above and beyond what is typically offered by standard printing or writing paper. Specialty papers are developed to meet specific requirements for look, usability, and performance. Increased demand for specific packing materials to protect items during delivery due to the growth of e-commerce has led to an increase in the use of speciality papers. Due to developments in digital printing technology, speciality paper now has opportunities in applications for bespoke and short-run printing. It is now possible to make specialised papers with unique attributes such as heat resistance, water resistance, and security features due to ongoing improvements in papermaking technology. looking at novel applications for specialty papers.
COVID 19 Impact
The pandemic had an effect on supply chains all across the world. For the production of specialist paper, it is essential that chemicals and pulp are readily available. Lockdowns, transit restrictions, and plant closures all caused supply chain disruptions that resulted in production delays and price increases. Demand for specialty paper changed as a result of the outbreak. While the growth of e-commerce increased demand for some sectors, including packaging and labelling, other sectors, like printing and publishing, saw declines as businesses trimmed marketing and advertising budgets. The development in e-commerce during the epidemic raised demand for packaging supplies produced from specialty papers, corrugated boxes, and mailing labels. Changes in the pricing of raw materials were the primary driver of price volatility in the speciality paper market.
The packaging industry is one of the primary drivers of the specialty paper market's expansion. Due to the continued growth of e-commerce and consumer desire for sustainable packaging options, speciality papers are in demand for distinctive and eco-friendly packaging materials. As e-commerce has grown, demand for packaging materials such as corrugated boxes, shipping labels, and flexible packaging has increased. Unique packaging designs that enhance brand awareness and product presentation are commonly made using speciality paper. Speciality papers are used in the packaging of food and beverages because they can maintain product freshness, prevent contamination, and give an aesthetically beautiful result. This sector contributes to market growth.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the “Global Specialty Paper Market Size, Share, and COVID-19 Impact By Product (Décor Paper, Packaging Paper), By Application (Building & Construction, Industrial), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.”
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Product Insights
Décor Paper segment holds the highest market share over the forecast period
On the basis of product, the global specialty paper market is segmented into Décor Paper, Packaging Paper, Printing Paper, Release Liner Paper, and Others. Among these, decor paper segment holds the highest market share over the forecast period. The building and furniture industries have been growing due to the increase in demand for interior furnishings, cabinets, flooring, and wall panelling. Decor paper must be used in these applications to create visually appealing and durable surfaces. Both residential and commercial structures are placing more and more emphasis on interior design and aesthetics. Décor paper is currently utilised more often to create surfaces that are both aesthetically beautiful and practical. Digital printing technology has made it easier to modify decor paper, providing designers and manufacturers more latitude to create distinctive and unique finishes for their products. Due to global urbanisation and real estate development activities, there is an increasing demand for décor paper in order to construct and adorn new buildings and spaces.
Application Insights
Printing and writing segment is dominating the market over the forecast period
Based on the application, the global specialty paper market is segmented into Building & Construction, Industrial, Printing & writing, Packaging & labeling, and Others. Among these, printing and writing segment is dominating the market over the forecast period. The growing acceptance of aesthetics and interior design in both private and public settings has raised the need for décor paper. Finding beautiful and customised surface solutions is becoming more and more popular among businesses and homeowners. Various design options are available on decor paper, such as plain colours, abstract designs, and wood grain patterns. This design freedom appeals to both designers and architects as well as customers looking for unique and bespoke interiors. The furniture market is expanding, and décor paper is crucial to creating furniture with durable and appealing surfaces. Along with an increase in furniture demand, décor paper consumption is also rising. New designs, textures, and finishes are continually being developed by décor paper manufacturers.
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Regional Insights
Europe is dominating the market over the forecast period
Among all other regions, Europe is dominating the market with the largest market share over the forecast period. In Europe, there is a considerable market for specialist paper products. The market has a large selection of specialist paper types, including packaging paper, label paper, décor paper, security paper, and others. Speciality sheets are utilised by several businesses across Europe. Among these are the industries of building, transportation, food and drink, printing and publishing, packaging and labelling, healthcare, and others. The packaging industry in Europe is the biggest consumer of specialised papers. The demand for cutting-edge, eco-friendly packaging materials has fuelled the growth of specialty paper products designed just for this industry. In the market for luxury goods, Europe is well-represented. Speciality papers with high-end surfaces and textures are highly sought-after for luxury packaging, cosmetics, fashion, and high-end consumer goods.
North America is witnessing the fastest market growth over the forecast period. Speciality papers are utilised in many different industries in North America. Printing and publishing, healthcare, food and drink, the automobile industry, construction, and electronics are a few of these. Labelling and packaging are also included. The packaging industry in North America is the biggest consumer of specialised papers. The desire for eco-friendly packaging materials, specialised packaging, and cutting-edge designs has spurred the growth of specialty paper goods in this business. North America dominates the market for luxury goods. Speciality papers with high-end surfaces and textures are highly sought-after for luxury packaging, cosmetics, fashion, and high-end consumer goods.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major players in the Global Specialty Paper Market include Domtar Corporation, Mondi Plc., Sappi Limited, International Paper Company, Nippon Paper Group, Inc, Stora ENSO Oyj, ITC Ltd, Munksjo Group, and other key vendors.
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Recent Market Developments
- In February 2021, two new sustainable Ever Liner products made of paper will be released, according to Mondi Plc.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Specialty Paper Market based on the below-mentioned segments:
Specialty Paper Market, Product Analysis
- Décor Paper
- Packaging Paper
- Printing Paper
- Release Liner Paper
- Others
Specialty Paper Market, Application Analysis
- Building & Construction
- Industrial
- Printing & writing
- Packaging & labelling
- Others
Specialty Paper Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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