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Paper Products Market Growth And Overview Report 2024-2033
Paper Products Market Growth
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According to The Business Research Company's, The paper products market size has grown strongly in recent years. It will grow from $1059.15 billion in 2023 to $1134.94 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increase in demand for packaging paper from retail companies and growing awareness about sustainable practices.
The paper products market size is expected to see strong growth in the next few years. It will grow to $1474.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to rapid advances in technology and growing demand from e-commerce. Major trends in the forecast period include 3d printing, implementation of artificial intelligence, increasing acquisition activities, utilizing recycled materials and produce recyclable products and focus on sustainability.
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Market Drivers and Trends:
The increased use of packaging-grade paper is driving the growth of the paper products market going forward. Packaging-grade paper encompasses the diverse varieties or classifications of paper utilized within the packaging sector. The increasing demand from various end-use industries, growing awareness regarding sustainability among consumers, and the need for eco-friendly packaging increased the demand for the paper products. For instance, in July 2022, according to EUWID Europäischer Wirtschaftsdienst GmbH, a Germany-based independent trade press publisher, the production of packaging grade paper in 2021 surged by 7.1% compared to 2020, reaching the highest level ever recorded in Europe. Therefore, the increased use of packaging-grade paper will propel the paper products market growth.
Major companies operating in the paper products market are focused on investments to expand the global presence to access new markets, diversify their customer base, and reduce supply chain risks. Investments in paper products can lead to the expansion of production capacity, allowing manufacturers to meet growing demand for paper and related products. For instance, in June 2021, Mondi, a UK-based manufacturing company, invested €125 million ($132 million) capital investment project at its semi-chemical fluting mill in Kuopio, Finland. The investment's goal is to enhance the plant's capacity by 55,000 metric tons and will be allocated towards modernizing various areas, including the fiber line, wood yard, paper machines, and evaporation plants. The Kuopio mill is focused on producing top-quality semi-chemical fluting and plays a role in the worldwide packaging industry. Mondi's mission is to contribute to a more sustainable world by creating inventive, environmentally friendly packaging and paper solutions.
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Major Key Players of the Market:
JCDecaux Group, Clear Channel Outdoor Holdings, Inc, Lamar Advertising Company, OUTFRONT Media Inc, Focus Media Information Technology, Stroer SE & Co KGaA, Daktronics Inc, oOh!media Limited, APG SGA, Exterion Media Group, Broadsign International LLC, Talon Outdoor Ltd, Ooh!Media Limited, Jives Media, Commcreative, Webfx, The Times Group, Eye Media LLC, WA Logistik Gmbh, Wall Gmbh, DSM Deutsche Städte Medien Gmbh, Ströer Media Deutschland Gmbh, MOPLAK Medien Service Gmbh, Blowup Media Gmbh, Externa Spa, Boca SRL, Europe Media SRL, Esotas SRL, Mediakom SRL, RMAA Group, Transit Media Group, SUN OOH Media, Ideacomm, Adboard Media, Phil-O-Media, Media Motion, MK OOH Media, Interbus, Screen Media, Adquick, Sizmek Technologies, Inc, Intersection Media Holdings, Inc, Pattison Outdoor Advertising Limited Partnership, Newad Media Inc, Anchour, Starfish, Manifesto Agency, Astral Media Outdoor, L.P, Cameron Advertising Displays Limited, Fluent, Inc., Eletromidia SA, One Brasil Midia Interativa SA, J.Chebly Empreendimentos De Publicidade SA, Chase Marketing Promocoes E Eventos Ltda, Plamarc Ltda, Creatika Spa, Gyt Business Group SPA, Grafica Nueva SA, Ykone, Jeddah, Cdecaux SA, Posterscope, Sharp NEC Display Solutions, Hills Advertising L.L.C, Backlite Media, 365 Digital, Primedia Outdoor, OHMSA, Kong Marketing Agency
Paper Products Market 2024 Key Insights:
• The paper products market size is expected to see strong growth in the next few years. It will grow to $1474.93 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Surge In Utilization Of Packaging Grades Paper Anticipated To Drive Paper Products Market Growth
• Mondi Makes Significant Investments In Finnish Paper Mills For Enhanced Capacity And Sustainability
• Asia-Pacific was the largest region in the paper products market in 2023
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