Business

Innovations to Play a Vital Role in Saturating Kraft Paper Market Growth

May 12, 2021

Transparency Market Research delivers key insights into the saturating kraft paper market in its published report, which include global industry analysis, size, share, growth, trends, and forecast for 2020-2027. In terms of revenue, the global market is projected to expand 1.4 times of the current market value by the end of 2027, owing to increasing number of construction and furniture industries about which, TMR offers detailed insights and forecasts in the saturating kraft paper market report.

TMR team segmented the analysis of saturating kraft paper market based on numerous parameters such as paper grade, basis weight, application, and demand in end use industries in different regions. The saturating kraft paper has a good barrier against air and moisture. However, it allows passage for water vapor. Therefore, it helps to reduce condensation. Owing to these benefits, consistently increasing demand for saturating kraft paper is being witnessed in construction and furniture industries.

As per the TMR analysis, unbleached saturating kraft paper is expected to hold the largest market share and outpacing bleached saturating kraft paper during the forecast period.

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Flooring Application Holds Significant Share of Saturating Kraft Paper Market

With rapidly changing lifestyle, customers have more inclination toward interior designing and artistic looks. More traction toward laminated products, furniture, and flooring, among customers, is expected to create exponential growth opportunities for the saturating kraft paper market during the forecast period. The saturating kraft paper available in decorative formats with a variety of texture and thickness provides good surface finish. Therefore, the demand for decorative saturating kraft paper for household end use is estimated to increase by nearly 70 bps during the forecast period.

Key Players Enhancing Production Capabilities and Expanding Global Footprint

It has been witnessed that the key players are focusing on increasing production capabilities to ensure equilibrium in demand and supply of saturating kraft paper. Therefore, two-fold investments are being done by manufacturers in the saturated kraft paper market. International Paper Company has invested US$ 300 Mn for enhancing its production capabilities. Besides this, key players are also focused on increasing its product portfolio and presence through collaboration and acquisitions. WestRock acquired KapStone Paper and Packaging. This acquisition helped the company to extend its product portfolio and product capabilities as well.

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COVID-19 Hindering Growth of Saturating Kraft Paper Market

The COVID-19 pandemic is expected to cause economic hardship for the key manufacturers and end users across several regions. Key players of the saturating kraft paper market are facing challenges due to this crisis. In spite of soaring demand for saturating kraft paper from customers, manufacturers are unable to fulfil such demand, due to disrupted supply chain and uncertain economic and capital market conditions in the first two quarters of 2024.

However, by the end of 2020, the global saturating kraft paper market is expected to growth with the expansion of construction and furniture industries.

Saturating Kraft Paper Market: Competition Landscape

The global saturating kraft paper market is fragmented. Tough rivalry among key players is witnessed in past three years. The global market for saturating kraft paper includes well-established market participants. Some of the key players operating in the global saturating kraft paper market are International Paper Company, WestRock Company, Koktamills Oy, Fortune Paper Mills LLP, Nordic Paper AS, Pudumjee Paper Products, Ahlstrom-Munksjö Oyj, Onyx Specialty Papers, Inc, Venkraft Paper Mills Pvt. Ltd. Suyash Paper Mills Limited, Shanghai Plastech Group Limited, among others.

The Tier structure is formulated on the basis of segmental revenue and market share of the company. As per Tier structure, WestRock Company, International Paper, Koktamills Oy, and Ahlstrom-Munksjö Oyj are the Tier 1 players in the saturating kraft paper Market. These companies are planning to increase global footprints in the untapped markets. Furthermore, Tier 2 players are Nordic Paper, Fortune Paper Mills LLP, Pudumjee Paper Products, Venkraft Paper Mills Pvt. Ltd., among others. These companies hold 1/5 of the global saturating kraft paper market share.

Global Saturating Kraft Paper Market Segmentation

Saturating Kraft Paper Market by Basis Weight