CAGR: 4.3%Current Market Size: USD 31.4 BillionFastest Growing Region: APAC
Largest Market: EuropeProjection Time: 2023-2030Base Year: 2022
Global specialty paper market is expected to grow from USD 31.4 billion in 2022 to USD 43.41 billion by 2030, at a CAGR of 4.3% during the Projection period 2023-2030.The growth of this market is mainly driven owing to the rising demand from various end-user industries, especially in the building and construction sector.
The term specialty paper is used to describe papers that have been produced or subsequently converted for a specific purpose, either separately, or by coating regular paper with a special paper and pulp chemical, making it suitable for a specific purpose. A specialty paper's molecular structure allows it to be tailored to users' needs, including biodegradable products. Additionally, specialty papers contain nanomaterials, making them suitable for several by-products. In addition to these properties, specialty papers are an excellent choice for several users. There are several benefits associated with e-commerce, including shorter B2B sales cycles, lower entry barriers, and easier expansion into foreign markets, among others, that are causing its widespread adoption. The rising trends of using eco-friendly products and the increased cost of specialty papers seem to be impacting the market. Post-consumer waste, for example, is often used as an alternative to virgin paper. Post-consumer waste is a type of paper that is made from a higher percentage of trash - the paper you throw away in the recycling bin. It keeps paper out of landfills, reduces the number of trees used, and saves energy. Packaged food products are in high demand due to rising disposable incomes and the hectic lifestyles of urban populations. The rising consumption of packaged food products is driving the demand for specialty paper, which is growing in the market due to the widespread use of specialty paper in the food service segment for packaging takeout products.
Sample Request: - Global Specialty Paper Market
Market Dynamics:
Drivers:
Specialty paper is used to produce masking tape for masking off walls and doors. Construction industry growth, especially in emerging regions, has also stimulated demand for masking tape, driving market growth.
Restraints:
Due to the growing use of electronic communication over paper-based communication, digitalization is a major factor affecting the market growth. Aside from the emission of carbon during the paper manufacturing process, deforestation causes environmental harm, which also hinders the market growth.
Opportunities:
A rise in the demand for e-commerce and logistics activities globally has a positive influence on the specialty paper market, which has a wide range of applications in this sector, including packaging, storage, and transportation. The growing use of e-commerce across various countries has driven the demand for specialty paper packaging and labelling.
Challenges:
A major part of the paper and pulp industry is heavily regulated in the U.S., and Europe, particularly in the United States and Europe. In order to make workplaces safer and reduce the undesirable effects of paper production on the environment, federal regulations have imposed several requirements on the industry. Due to these rules and regulations, key companies in the market have experienced higher expenses.
Segmentation Analysis:
The global specialty paper market has been segmented based on product type, construction material, end-user, and region.
By Product Type
The product type segment includes printing paper, décor paper, thermal printing paper, kraft paper and others. The kraft paper segment led the largest share of the specialty paper market with a market share of around 27% in 2022. The Kraft segment is expected to experience a high revenue during the Projection period and is subdivided into wrapping and packaging as well as sack kraft. Due to a number of factors including extensibility, printability and strength equal to plastic or synthetic materials, Sack Kraft has a significant share in the segment's revenue growth. It has wide-ranging applications in the construction sector.
By Construction Material
The construction material segment includes coatings, fillers & additives, binders, pulp, and others. The pulp segment led the largest share of the specialty paper market with a market share of around 29% in 2022. As a lignocellulosic fibrous material, pulp can be manufactured mechanically and chemically by separating cellulose fibers from wood, wastepaper, etc., generating a lot of opportunities for product use in paper manufacturing, construction and printing. Due to the pulp's high processability, toughness, and stiffness, product demand is likely to increase during the Projection period.
By End-User
The end-user segment includes printing & writing, building & construction, packaging & labelling, industrial and others. The building & construction segment led the largest share of the specialty paper market with a market share of around 31% in 2022. In the building and construction segment, specialty papers are widely used as wallpapers and decorative papers. In the Projection period, the construction industry will see a growing adoption of aesthetic products, especially in commercial and residential areas. As well, market players will continue to innovate in order to gain a competitive advantage and expand their footprint, which will lead to increased market revenue growth.
Global Specialty Paper Market- Sales Analysis.
The sale of specialty paper expanded at a CAGR of 4% from 2016 to 2022.
A rise in home delivery services has increased the need for packaging and labelling of delivery goods, and that trend is expected to continue in the next few years. Consumer goods are the fastest-growing segment and hold the largest share of the e-commerce market. Because packaging and labelling is the largest revenue-generating category in the global industry, this is increasing the market demand.
The medical industry requires contamination-free, lightweight specialty papers. In light of the recent trend in the pharmaceutical industry for more sophisticated packaging requirements, specialty papers will be able to meet challenges such as contamination-free packaging and more attractive and visible labels.
It is suitable for packaging in sectors such as food and beverage, lifestyle and cosmetics because it is moisture-resistant, pH-balanced, and hygienic. Additionally, rising disposable incomes have led to a rise in the demand for high-quality packaging materials, boosting market growth.
Thus, owing to the aforementioned factors, the global specialty paper market is expected to grow at a CAGR of 4.3% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the specialty paper market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The European region dominated the specialty paper market and held a 37.9% share of the market revenue in 2022.
Global Specialty Paper Market - Country Analysis:
Germany's specialty paper market size was valued at USD 3.5 billion in 2022 and is expected to reach USD 5.09 billion by 2030, at a CAGR of 4.8% from 2023 to 2030.
It is anticipated that new market opportunities and industry expansion will be driven by the increased number of product developments. Technological advancements in specialty paper are substituting for increasing specialty paper market demand, a factor that is supporting market growth. Manufacturers are developing more efficient, reliable, and convenient products that are increasing market share.
China’s specialty paper market size was valued at USD 2.44 billion in 2022 and is expected to reach USD 3.5 billion by 2030, at a CAGR of 4.7% from 2023 to 2030.
With such a huge population, specialty packaging is in demand among consumers. The increasing demand for specialty paper as an ingredient in various packaging papers is another reason why specialty paper is in demand.
India's specialty paper market size was valued at USD 1.8 billion in 2022 and is expected to reach USD 2.5 billion by 2030, at a CAGR of 4.6% from 2023 to 2030.
Healthcare products in the country would be in high demand during the Projection period as there are minimal regulatory barriers and a cooperative environment for development and commercialization. The government research funding for this sector would also drive product demand.
Key Industry Players Analysis:
To increase their market position in the global specialty paper market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
4.3% |
Market Size |
31.4 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product Type, By Raw Material, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
ITC Ltd., International Paper Company, Sappi Ltd., Glatfelter, Mondi PLC, Nippon Paper Group, Inc, Fedrigoni and Munksjo Group, and Domtar Corporation. |
By Product Type |
|
By Raw Material |
|
By End-User |
|
Regional scope |
|
Scope of the Report
Global Specialty Paper Market by Product Type:
Global Specialty Paper Market by Construction Material:
Global Specialty Paper Market by End-User:
Global Specialty paper market by Region:
Global specialty paper market is expected to reach USD 43.41 billion by 2030, at a CAGR of 4.3% from 2023 to 2030.
Leading players in the specialty paper market are ITC Ltd., International Paper Company, Sappi Ltd., Glatfelter, Mondi PLC, Nippon Paper Group, Inc, Fedrigoni and Munksjo Group, Domtar Corporation among others.
Rising demand in the construction sector and developing e-commerce sector.
Asia Pacific region will witness more growth in the specialty paper market.
Political Factors- Because they are crucial to the development of laws, pressure groups, social and environmental campaigners, and labor unions should be closely studied by the specialty paper market. It may be possible to increase the specialty paper market's capacity for civic engagement and the accomplishment of long-term business goals by close cooperation with these groups. The business climate for international companies, including those in the specialty paper sector, is also improved by a solid governance structure and a democratic political environment.
Economic Factors- Organizational performance is directly impacted by the economic development of a nation. Due to rising economies, there are numerous potentials for the specialty paper market to expand. In a similar spirit, it is critical to comprehend the stage of the industrial lifecycle. Due to market saturation, entering mature industries may provide more of a challenge than entering businesses in the growth stage. The amount of money spent by the host country's government on building vital infrastructure also has an impact on the market viability for specialty paper. Business operations are facilitated by a well-developed infrastructure, increasing the likelihood that the country's gold industry will prosper.
Social Factors- International marketing managers view culture as a key component. Every culture has its own set of standards and beliefs, which are crucial in determining how people behave as consumers. The market for specialty paper must collaborate and form teams with regional businesses in order to develop marketing plans that are appropriate for the regional setting. The socioeconomic class stratification research is valued by the specialty paper business. The market for specialty paper will require the adoption of specific marketing tactics in order to provide luxury goods at premium pricing to a market where the high-end consumer is relatively tiny. Market segmentation based on social class may also fail in areas with limited social class stratification.
Technological Factors- As information and communication technologies have advanced, it has been simpler to implement cutting-edge marketing strategies to improve consumer collaboration. Social media usage in the present corporate climate has increased dramatically. The benefits of social media marketing can be employed to boost business performance in the specialty paper sector. New social media campaigns can be started using technology to build online communities for brands. To keep ahead of the competition, the specialty paper market needs to carefully study recent technical developments. It's crucial to pay attention to how 5G could improve user experience, speed, and access to increase productivity.
Environmental Factors- Utilization of green or environmentally friendly products is increasing. specialty paper might take advantage of the chance and use green business methods to appeal to stakeholders. Priorities for product innovation are shifting as a result of regulatory organisations' emphasis on ensuring conformance with environmental regulations. The environmental friendliness of its products must be emphasised over more traditional value claims in the specialty paper market. The public, customers, environmental organisations, and the media may criticise the market for specialty paper if it consistently depletes resources.
Legal Factors- Consumer concerns about their privacy and security have made data protection into a serious issue. To protect customer data, specialty paper must look into data protection laws. Additionally, laws are in place to control costs, guarantee a particular level of quality, and shield customers from deceptive advertising promises. specialty paper must take certain things into account in order to abide with consumer protection rules. The purpose of intellectual property laws is to safeguard the valuable ideas and patents that companies own. If specialty paper loses its competitive edge as a result of failing to preserve intellectual property rights, its position in respect to other market competitors may suffer.
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