Specialty Paper Market: Overview
Specialty Paper Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.
Specialty papers are one of the special grades of paper used for graphic communications such as newsprint and coated printing. It is designed with special characteristics and properties which include a range of weights, brightness levels, shades, texture, and finishes.
Increasing demand for pulp and paper in the rapidly growing packaging industry is one of the major factors expected to fuel the growth of the target market.
Moreover, increasing preference for online shopping in emerging as well as developed economies is expected to bolster demand for specialty paper and drive the growth of the global market.
In addition, increasing investments in research & development activities to develop and introduce more advanced products such as water-based barrier coated paper, special performance coated paper, and lightweight products are also expected to provide significant growth opportunities for the target market during the forecast period.
Also, increasing demand for sustainable packaging methods to decrease environmental impact is anticipated to bolster the revenue growth of the target market.
The latest trend shows that increasing demand for Micro fibrillated cellulose (MFCs) – made up of cellulose fibers extracted from wood – is used for packaging.
According to company news, in December 2016, Borregaard and BillerudKorsnas entered into a development agreement to run full-scale tests of packaging products containing micro-fibrillated cellulose (MFC).
Specialty Paper Market: Segment Analysis
The global specialty paper market has been segmented based on product type, raw material, application, and region.
Among raw materials, the pulp segment is projected to dominate the specialty paper market over the forecast period.
Based on the product type, the target market is segmented into decor papers, release & labels, flexible packaging papers, pharmaceutical leaflet papers, and others.
The decor papers segment is expected to contribute a major revenue share to the target market.
On the basis of application, the target market is fragmented into industrial, packaging, construction, food service, label, and printings.
Among these, the packaging and construction segment is expected to register a significant growth rate in the market over the forecast period owing to the increasing usage of sack kraft papers in the construction sector.
Specialty Paper Market: Region Analysis
Among regions, Europe is expected to dominate the global specialty paper market over the forecast period with a significant CAGR.
Application of electronic labels which includes labels with informative functions, QR codes, security systems, and NFC technology to enable security and anti-counterfeit functions, is expected to contribute to protection from counterfeit goods and in turn, are expected to drive demand for specialty papers during the forecast period.
In addition, countries such as UK and France have banned plastic bags due to their adverse side effects on the environment which is expected to increase the usage of paper bags and specialty papers.
Growing demand for paper from the packaging industry is anticipated to support the growth of the specialty paper market in North America.
The specialty paper market in the Asia Pacific is expected to grow at a significant growth rate in the global market over the forecast period.
Increasing demand for specialty paper and increasing awareness regarding environmental sustainability among people are some of the factors expected to bolster the growth of the target market in the region.
Specialty Paper Market Segmentation:
Segmentation by Raw Material:
- Others (fiber and chemicals)
Segmentation by Product Type:
- Decor papers
- Release & labels
- Flexible packaging papers
- Pharmaceutical leaflet papers
- Others (automotive, kitchen worktops, and abrasive backings)
Segmentation by Application:
- Food Service
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope Revenue in US$ Mn
- Nippon Paper Group, Inc.
- Domtar Corporation
- Mondi Plc
- Sappi Limited.
- Stora Enso Oyj
- Munksjo Corporation
- Kanzaki Specialty Papers Inc.
- International Paper Company
- Robert Wilson Paper Corporation
- Griff Paper and Film
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