Specialty Paper market Size Projected To Grow At A Cagr Of 5.52% During The Forecast Period 2021-2026

Paper is a versatile product and has applications in education, communication, information, and packaging. Specialty papers are special grades papers exhibiting properties such as strength, dimensional stability, density, porosity, smoothness, wet strength, and absorptivity. They are manufactured and designed for a special purpose. Based on product type specialty paper is segmented into décor paper, release liner, label paper, packaging paper, and printing paper. Printing and writing papers include paper used for books, magazines, wedding invitations, office and home printers, birthday cards, printed photos and vital documents such as birth certificates, social security cards, and diplomas.

Increasing concern regarding environmental sustainability is encouraging use of recycled paper and recycled paper products. Utilization of renewable resource-based materials, lightweight materials, and functional materials for specialty papers is gaining significant traction. Plants such as hemp, kenaf, and bamboo yield fiber faster than trees and agricultural waste such as sugar cane, straw from wheat and rice, and byproducts from coffee, banana, and coconut plants are also used for the specialty paper production. Various economies like United Kingdom, Australia have banned plastic bags, owing to their adverse side effects on the environment.

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Market Taxonomy

On the basis of raw material, global specialty paper market is segmented into:
Pulp
Binder
Fillers
Additives

On the basis of application, global specialty paper market is segmented into:
Industrial
Construction
Packaging
Labeling
Printing
Writing

Key players are adopting in-organic growth strategies such as new product launch and product development in order to gain market share in the global specialty paper market. For instance, in 2018, the company verso launched specialty label papers at Labelexpo America 2018. Labelexpo America 2018 is the largest event for the label and package printing industry in North America. The company has launched three new label papers, OptiLable HB, OptiLitho C1S, OptiPrime Inkjet WS to satisfy the growing needs of our specialty paper customers.

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In 2018, Kruger specialty papers has planned to expand its product portfolio in specialty paper. As, Kruger’s Trois-Rivières facility delivered its first shipment of bleached thermomechanical pulp (TMP) which enabled the Wayagamack Mill to expand its product portfolio into a wider range of brightness levels. In this project the company invested around US$ 40 million to build the new bleached TMP plant at Kruger Trois-Rivières and to upgrade production at Wayagamack.

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