Market For Specialty Papers Is Expected To Garner Us$ 60 Billion By 2031
Worldwide demand for specialty papers surpassed 25,354 tons in 2018, with a veritable proliferation anticipated over the upcoming years. Lowering preference for plastics across diverse end-use verticals, ranging from packaging and labelling to pharmaceuticals, has induced a shift toward viable alternatives, such as specialty paper. These insights are according to the latest Fact.MR study, which positions the specialty papers market for a bullish run in the upcoming years. Fact.MR study opines that sales of specialty papers are surging in the wake of associated beneficial attributes, ranging from enhanced strength to smoothness. Use of MFCs has witnessed a considerable uptick on the back of its high material strength, which has been identified as a pervasive trend gaining momentum in the global market space. According to the report, global specialty papers market is likely to register a volume CAGR of more than 2% over the forecast period.
The global Specialty Papers Market study presents an all in all compilation of the historical, current and future outlook of the Market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each Specialty Papers Market player in a comprehensive way. Further, the Specialty Papers Market report emphasizes the adoption pattern of the Specialty Papers across various industries.
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Companies of specialty papers are focusing on launching papers that are environmentally friendly and would reduce waste. This, in turn, will upsurge the demand for specialty papers.
Key Takeaways from the Market Study
- By product, décor papers to account for considerable revenue, amounting to 40%
- Kraft paper sales to likely expand at a CAGR exceeding 6% through 2031
- By application, packaging & labeling to account for highest usage, capturing over a third of total sales
- Printing & publishing and building & construction to jointly contribute over half of total revenue
- Europe and Asia to dominate specialty papers sales, yielding 2/5th of revenue
- China to register an impressive valuation, clocking a CAGR above 7% through 2031
“Increasing consciousness regarding environment along with emerging design trends is propelling the demand for specialty papers.” opines a Fact.MR analyst.
Key players in the specialty papers industry are focusing on offering sustainable solutions that would last for a longer period of time.
- In March 2020, International Paper, announced their plan to spin off the printing papers segment into a standalone one named SpinCo.
- In June 2021, introduced fiber based packaging solutions named EverGrow. The company is focusing on using sustainably sourced wood fiber and building a 100% reusable, recyclable and compostable product portfolio.
Key Segments Covered
- Thermal Specialty Paper
- Décor Specialty Paper
- Label Specialty Paper
- Kraft Specialty Paper
- Carbonless Specialty Paper
- Printing Specialty Papers
- Release Linear Papers
- Other Specialty Papers
- Specialty Papers for Building & Construction
- Specialty Papers for Food & Beverage
- Specialty Papers for Pharmaceuticals
- Specialty Papers for Packaging and Publishing
- Specialty Papers for Electricals
- Specialty Papers for Other Applications