Global Specialty Paper Market Analysis, Trends, Forecast up to 2024
Specialty paper is used to transport and safeguard a wide range of merchandise. High demand from the end use industry, such as packaging and labelling, is anticipated to drive growth of the specialty paper market over the forecast period. The specialty paper market constituted almost 6% of the global specialty paper and paperboard market in terms of volume in 2014. Europe was the leading exporter of specialty papers in 2014. Rapid increase in consumerism, in turn, is projected to drive demand for specialty papers in the developing countries. The convenience offered by customizable specialty paper products, coupled with their beneficial properties, is also among the major factors anticipated to drive growth of the specialty paper market over the forecast period. Thus, in view of all the above driving factors, the global specialty paper market is expected to witness high growth over the forecast period.
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Specialty Paper Market: Drivers and Restraints
Growth witnessed in the end-use industry, such as packaging and labelling, in turn is expected to drive growth of the specialty paper market in the near future, as packaging and labelling constitutes almost 40% of the global specialty paper application. Change in lifestyle of people and rise in aging population are factors anticipated to increase demand for specialty paper in the food service, packaging, and medical applications. Besides, rise in the disposable income of people across the globe is expected to further fuel demand for specialty papers over the forecast period.
Carbon emissions resulting from the paper manufacturing processes, coupled with deforestation, is projected to be a strong disadvantage of specialty papers, in turn hindering their market growth. Besides, the advent of the digitalization age is expected to be another major restraining factor for growth of the specialty paper market in the coming years. Furthermore, anticipated extermination of paper-based communication due to the increasing consumer preference for electronic media is expected to lead to further decline in growth of the specialty paper market over the forecast period. Moreover, the specialty paper market is extremely fragmented, which is another restraining factor for growth of the specialty paper market over the forecast period.
Specialty Paper Market: Region – wise outlook
The global specialty paper market is segmented into seven key regions on the basis of geography, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Middle East and Africa and Japan. Asia Pacific market is expected to expand at the highest CAGR in terms of value and volume over the forecast period. Increasing population and industrialization in APAC is expected to be the major reason for the rise in demand for specialty papers in the region. Europe and North America markets are expected to account for nearly half of the total share of the specialty paper market over the forecast period. The Latin America and the MEA markets are expected to witness stagnant growth in the near future.
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Specialty Paper Market: Major key players
Some of the key market players identified in the global specialty paper market are:
Nippon Paper Group
Oji Holdings Corporation
Asia Pulp & Paper Co. Limited
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