Specialty Paper Market Set for Rapid Growth During 2016 – 2024
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The rising online shopping sector in emerging as well as developed economies is a key driver for the global specialty paper market. The convenience of shopping online has led to a consistent rise in user figures for ecommerce portals, which has led to a corresponding rise in the demand for packaging materials and other materials required to transport and store the products. The specialty paper market has been a key beneficiary of these developments, as it has widespread utility in several parts of the online shopping sector.
Regionally, Europe is likely to exhibit the leading share in the global specialty paper market in the coming years. The steady presence of paper processing framework in the region is a key driver for the Europe specialty paper market, while the steady rise in the use of online shopping channels in the developed and affluent region is also a consistent contributor to the global specialty paper market.
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
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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.
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