Increasing consumer preference for using sustainable paper has boosted the growth of the global printing paper market in the recent past, owing to growing environmental concerns worldwide. Surging prominence for digitally printed folding cartons and paper is expected to provide a significant opportunity to the global printing paper market in near future. According to a recently conducted research study, the global market for printing paper will be possibly valued at over US$ 90 Bn by the end of the next decade. The market currently values near US$ 53 Bn and is projected to expand sustainably at a CAGR of 4.9% over 2018-2028.
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Consumers have been preferring folding cartons since the past few years, which is in turn pushing the demand for paper printed on the digital printers. Demand for digital printers has thus tremendously increased owing to various advantages they offer over the conventional printing technology. With significant growth of the paper industry, printing paper market is expected to witness exponential growth on a global level. Established players have expanded their production capabilities as well as their geographical footprints to consolidate their positions.
On the basis of paper type, printing paper market is segmented into coated paper and un-coated paper. By distribution channel, the market has four different segments, viz. hypermarket, retail stores, convenience, and ecommerce. Segments based on application include newspaper, industrial, commercial, books & magazines, and others. By region, Asia Pacific excluding Japan (APEJ) is estimated to capture the largest value share in printing paper market, closely trailed by the Western European market. MEA, although contributes a cramped value share in the global market, it is estimated to thrive notably over the next few years.
By paper type, coated paper segment is believed to account for the highest market share of more than 62% by this year end, and is anticipated to register a promising CAGR of 5.3% during the forecast period. On the basis of distribution channel, ecommerce segment is anticipated to register a relatively higher CAGR, whereas convenience segment will reportedly account for the highest market share in terms of value. Among application-based segments, the commercial segment that has been dominating the market will remain the most significant segment with an estimated incremental opportunity of more than US$ 14 Bn over the assessment period. This segment is likely to continue dominance attributed to substantial demand from the advertising sector, in addition to that from magazines and newspapers. The report however highlights that the newspaper segment may exhibit the highest CAGR during the course of market examination.
A few of the key players in the global printing paper market include International Paper Company, Georgia-Pacific LLC, DS Smith Packaging Limited, Oji Holdings Corporation, Pratt Industries, Inc, Great Little Box Company Ltd., WestRock Company, Smurfit Kappa Group Plc, KapStone Paper and Packaging Corp, Stora Enso Oyj, Sonoco Products Company, Mondi Group plc, VPK Packaging Group nv, Mayr-Melnhof Karton AG, Clearwater Paper Corporation, Nippon Paper Industries Co., Ltd, Metsa Board Corporation, and Evergreen Packaging Inc.
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Increased Demand from Diverse Industrial Sectors Fuels Expansion of Printing Paper Market
Printing papers are widely utilized in various end-user industries including newspaper, books and magazines, industrial, and commercial printing. Extensive use of this product for printing of pamphlets, circulars, and notices in schools, colleges, business units, and other institutions is generating prodigious demand opportunities for vendors operating in the global printing paper market.
Coated and uncoated are the two main product types available in the global printing paper market. In recent few years, there is remarkable growth among major worldwide consumers toward the use of sustainable paper because of growing awareness about concerns pertaining to environment. In industrial sector, printing paper finds wide application including official and billing purposes. Apart from this, the surging demand for digitally printed folding cartons is creating lucrative avenues in the global printing paper market.
Major enterprises in the global printing paper market are growing efforts to improve the quality of products they offer. Apart from this, they are strengthening their production capabilities. This aside, many enterprises are entering into partnerships and collaboration activities. These activities are helping in enterprises to expand their regional presence. Owing to all these activities, the global printing paper market is foreseen to gather lucrative avenues in the forthcoming years.
On the grounds of novel COVID-19 pandemic, various industrial sectors across the globe are going through critical situation. The companies engaged in the global printing paper market are experiencing sudden fall in their sales owing to lockdowns in many countries across the globe. To contain the spread of coronavirus, several companies in the newspaper industry had stopped their production activities. This scenario has impacted adversely on the demand avenues of the global printing paper market. Many industry leaders are growing focus toward developing various protocols to deal with this critical situation and regain their regular production activities.
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