Specialty Paper Market: Overview
The specialty paper market has risen spectacularly in recent years following the rapid adoption of packaging mechanisms and home delivery facilities in a number of sectors. Growth of the consumer goods sector has been the prime driver for the specialty paper market, as packaging and labeling applications account for close to 40% of the global specialty paper market and are likely to remain the leading revenue generator for the market in the coming years. The booming demand for consumerism channels is thus likely to remain the key driver for the specialty paper market.
The rising online shopping sector in emerging as well as developed economies is a key driver for the global specialty paper market. The convenience of shopping online has led to a consistent rise in user figures for ecommerce portals, which has led to a corresponding rise in the demand for packaging materials and other materials required to transport and store the products. The specialty paper market has been a key beneficiary of these developments, as it has widespread utility in several parts of the online shopping sector.
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Regionally, Europe is likely to exhibit the leading share in the global specialty paper market in the coming years. The steady presence of paper processing framework in the region is a key driver for the Europe specialty paper market, while the steady rise in the use of online shopping channels in the developed and affluent region is also a consistent contributor to the global specialty paper market. Besides Europe, Asia Pacific is also likely to contribute significantly to the global specialty paper market in the coming years due to the increasingly prosperous economic growth in several countries in the region.
Carbon emissions resulting from the paper manufacturing processes, coupled with deforestation, is projected to be a strong disadvantage of specialty papers, in turn hindering their market growth. Besides, the advent of the digitalization age is expected to be another major restraining factor for growth of the specialty paper market in the coming years. Furthermore, anticipated extermination of paper-based communication due to the increasing consumer preference for electronic media is expected to lead to further decline in growth of the specialty paper market over the forecast period. Moreover, the specialty paper market is extremely fragmented, which is another restraining factor for growth of the specialty paper market over the forecast period.
Specialty Paper Market: Segmentation
The global specialty paper market is segmented based on raw materials into:
- Additives
- Fillers
- Binders
- Pulp
- Others (fibre, chemicals)
The global specialty paper market is segmented on the basis of product type into:
- Release & labels
- Decor papers
- Pharmaceutical leaflet papers
- Flexible packaging papers
- Others (automotive, kitchen worktops, and abrasive backings)
The global specialty paper market is segmented based on end use application into:
- Industrial
- Construction
- Packaging
- Label
- Food Service
- Printings
- Others
Specialty Paper Market: Region wise outlook
The global specialty paper market is segmented into seven key regions on the basis of geography, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Middle East and Africa and Japan. Asia Pacific market is expected to expand at the highest CAGR in terms of value and volume over the forecast period. Increasing population and industrialization in APAC is expected to be the major reason for the rise in demand for specialty papers in the region. Europe and North America markets are expected to account for nearly half of the total share of the specialty paper market over the forecast period. The Latin America and the MEA markets are expected to witness stagnant growth in the near future.
Specialty Paper Market: Major key players
Some of the key market players identified in the global specialty paper market are:
- Nippon Paper Group
- Domtar Corporation
- Mondi Plc
- International Paper
- Stora Enso
- Oji Holdings Corporation
- Asia Pulp & Paper Co. Limited
- Sappi Limited
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- Latin America
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