Specialty Paper Market Is Set To Garner Staggering Revenues By 2024

The proliferation of the packaging industry is the primary driving force for growth in the specialty paper market. Apart from printing and writing applications in the packaging industry, specialty paper is also used in various industries such as building and construction. The masking tapes are used in the construction industry for marking, painting, and designing. So the rising demand for masking tapes in infrastructural development especially in developing countries is indirectly driving growth in the specialty papers market.

The consumer goods sector also extends ample opportunities for the specialty paper market. Our busy lifestyles have resulted in the increased consumption of instant tea premix sachets. These sachets are also made from specialty paper. The increasing demand for filter paper to manufacture cigarettes is also propelling the specialty paper market.

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Sustainability is a crucial factor for specialty paper, specifically glassine paper. Apart from this, other properties such as temperature resistance, non-reactive, attractive, waterproof, lightweight, and color range are also helping in the development of specialty paper market. But the availability of substitutes for specialty paper is restricting the market growth. Apart from this, the pocket-friendly price of plastic packaging is dampening the growth of specialty paper market. Irrespective of these factors that challenge growth, the specialty paper market is providing wide opportunities for players in the said market. Its molecular structure helps to develop new product variants. The nanomaterials in these papers help in the production of several by-products.

Specialty Paper Market: Overview

The specialty paper market has risen spectacularly in recent years following the rapid adoption of packaging mechanisms and home delivery facilities in a number of sectors. Growth of the consumer goods sector has been the prime driver for the specialty paper market, as packaging and labeling applications account for close to 40% of the global specialty paper market and are likely to remain the leading revenue generator for the market in the coming years. The booming demand for consumerism channels is thus likely to remain the key driver for the specialty paper market.

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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. Besides Europe, Asia Pacific is also likely to contribute significantly to the global specialty paper market in the coming years due to the increasingly prosperous economic growth in several countries in the region.

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.

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Specialty Paper Market: Segmentation

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.

Specialty Paper Market: Major key players

Some of the key market players identified in the global specialty paper market are:

Nippon Paper Group
Domtar Corporation
Mondi Plc
International Paper
Stora Enso
Oji Holdings Corporation
Asia Pulp & Paper Co. Limited
Sappi Limited

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