Stone Paper Market: Highlights
- Stone paper is known for its strength and durability. It is made out of calcium carbonate 80% (limestone) and bio-polyethylene resin 20% (HDPE). In this case, the HDPE is used as a binder. Limestone from existing limestone quarries is being used as a raw material and processed into a fine powder.
- Stone paper is used in stationery, magazines, books, wallpapers, leaflets, posters, bags, packaging, adhesives, plates, trays, containers, etc. It is non-toxic, food safe, fire-resistant, recyclable, waterproof, complies with FDA standards, and does not lead to air pollution. As a result, it is employed in numerous applications in various sectors.
- Stone paper is originally white in color. Therefore, it does not require any further bleaching process. Stone paper products also retain their shape over time because of the high density.
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Key Drivers and Challenges of Stone Paper Market
- Increase in investment in R&D for the development of advanced manufacturing techniques using calcium carbonate and other similar organic compounds is expected to be a key driver of the global stone paper market. Furthermore, rise in concerns related to deforestation and supportive regulations promoting the use of an alternative to conventional paper are also likely to boost the demand for stone paper in the near future.
- Growth in government regulations to reduce deforestation is anticipated to negatively impact the raw material availability for conventional paper products. As a result, demand for stone paper is estimated to rise during the forecast period.
- Key challenges faced by the stone paper market include environmental regulations on mining activities, which play a major role in the extraction of calcium carbonate. Increase in demand for raw materials such as HDPE in other industries such as piping and fuel tanks, bottles, and furniture is projected to adversely affect the availability of raw materials in the manufacture of stone paper in the next few years.
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Stone Paper Market: Application Segment
- In terms of application, the global stone paper market can be segmented into paper packaging, labeling paper, self-adhesive paper, and others
- The paper packaging segment is projected to account for major share of the global stone paper market by 2027
- Expanding at a healthy growth rate, labeling paper and self-adhesive paper segments are expected to create significant incremental opportunities during the forecast period
- In terms of volume, the others segment is anticipated to expand at a moderate to high pace during the forecast period
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Asia Pacific to be Key Region of Global Stone Paper Market
- In terms of region, the global stone paper market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In Asia Pacific, China and India aim to promote investments in their respective end-use industries. This is estimated to boost the stone paper market in the region.
- In terms of demand, Asia Pacific held prominent share of the global stone paper market in 2018. It was followed by North America and Europe. Asia Pacific is a highly promising region of the market. This trend is projected to continue in the next few years. Constant rise in manufacture of stone paper for usage in various industries and export purposes is driving the demand for stone paper in Asia Pacific. With economic contraction and saturation in the market in Europe and North America, demand for stone paper is shifting to Asia Pacific.
- The stone paper market in Latin America and Middle East & Africa is estimated to expand at a moderate pace during the forecast period. End-use industries in Mexico have been expanding steadily. The UAE is also exhibiting significant growth in its end-use industry. These factors are projected to drive the demand for stone paper in Latin America and Middle East & Africa, respectively, during the forecast period.
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Key Manufacturers Operating in Market
The global stone paper market was highly fragmented in 2018. Key manufacturers operating in the global stone paper market include:
- The Stone Paper Company
- WestRock Company
- Gaia-Concept BV
- Taiwan Lung Meng Advanced Composite Materials Co., Ltd.
- Packaging Corporation of America
Global Stone Paper Market: Research Scope
Global Stone Paper Market, by Application
- Paper Packaging
- Labeling Paper
- Self-adhesive Paper