Global Sack Kraft Paper Market 2023 to reach US$ 39.5 Billion With Key Players BILLERUDKORSNAS AB, MONDI, SEGEZHA GROUP, NATRON-HAYAT D.O.O AND KAPSTONE PAPER and PACKAGING CORPORATION

Industry Highlights:
The global sack kraft paper market was valued at USD 31.17 billion in 2017, and is forecasted to reach USD 39.5 billion by the end of 2023, at a CAGR of 4.04% during the forecast period of 2018-2023. The scope of the report is limited to type of packaging, such as valve sacks, open mouth sacks, among others. The grading of sack kraft paper is kraft, semi-extensible, extensible, among others. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.

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Sack craft paper is used for packaging products and is used in various industries, such as cement, food, agriculture, chemical, and many more. Sack craft is made out of kraft paper, which, in turn, is manufactured from paper or paperboard made of wood pulp. Sack craft has high tensile energy absorption (TEA), high stiffness, high porosity and excellent printability as compared to conventional packaging materials.
Increasing demand of eco-friendly packaging material and rapid growth of construction industry will drive the growth of sack paper craft market. The customers across the world are also realizing the environmental impact of waste materials and are moving towards the use of biodegradable packaging paper.

Key Developments in the Market
• September 2017 - Mondi and Polish converter SILBO developed the first paper-based, biodegradable bag for food that runs on horizontal and vertical Form-Fill-Seal (FFS) machines. Through Mondi’s extrusion coating technology it is given a double-sided coating of the biodegradable barrier Sustainex. This paper has a see-through window, which enables brands to better showcase their products
• September 2017 - BillerudKorsnu00e4s invested in cold chain packaging company Vericool. With this investment, the company plans to venture into new business and provide high-qualtiy packaging material in grocery and pharmaceutical markets
• February 2017 - KapStone acquired Associated Packaging Incorporated (API) to strengthen its footprint in the strategic Southeast market

The major players include –
BILLERUDKORSNAS AB, MONDI PLC, SEGEZHA GROUP, NATRON-HAYAT D.O.O AND KAPSTONE PAPER and PACKAGING CORPORATION, amongst others.

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Increased Demand of Eco-friendly Packaging Material to Drive the Market
Environmental concerns over safe disposal and recycling of packaging materials have led to the introduction of new policies and regulations mandating companies to recover their packaging materials. Initially, consumer-packaging materials were targeted owing to the scale of packaging wastes generated; however, government and packaging organizations have started addressing the environmental effects occurring by the use of other packaging material as well. As a result of this, the companies are moving towards biodegradable packaging material to provide quicker and complete natural degradation. Most of the paper products made from pure paper pulp, without addition of waterproof coating or inks, are completely biodegradable as compared to conventional paper packaging products, which take much longer time to degrade naturally.
Steady rise in demand for food & beverages and construction industry has contributed to the drastic increase in use of sack craft paper. Recycling remains one of the major trends observed in these industries. The volume demand for recycled paper is expected to grow to 1.5 million metric tons by the end of 2018, which is expected to support the overall market growth.
Asia-Pacific dominated the sack kraft paper market in 2016 and is poised to dominate the industry during the forecasted period. The market in Asia-Pacific is driven by the growing construction activities in India and China.
India is the second largest producer of cement in the world, with total production capacity of 425 million tonnes and attracts huge investments from both, Indian and foreign investors. Development of 98 smart cities will provide boost to this industry and, in turn, will boost sack kraft paper market.
Most of the cement will be consumed in making houses as urbanization in India is growing at a rapid rate. Moreover, the government is also implementing various policies in affordable housing segment. All this has led to increased consumption of cement in India. Thus, boosting the sack craft paper market.
Food accounts for the largest share of paper packaging in this region. Increasing number of manufacturing plants all over the region, combined with growing consumerism and increasing transit-packaging sector in China, is further contributing to the growth of paper packaging.

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This release was published on openPR.