Specialty Paper and Paperboards Market Analysis by Segments, Trends, Growth and Forecast 2024
Though there is no set distinction between paper and paperboard, the latter (single- or multi-ply) is normally thicker in comparison. Specialty paper and paperboards require distinct and elite raw materials and have similar applications.
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Specialty papers are usually employed in applications with representative values (such as cheques, money, vouchers, and security papers, as well as in packaging (wrapping paper and wallpaper), construction (construction paper, paper engineering, and composite materials) and others (such as litmus paper, blotting paper, and electrical insulation paper).
Specialty paperboards are usually utilized as cardboard boxes for packaging and drawing boards for students in faculties such as the arts, architecture, and engineering and also as sign boards in advertising and hard board covers for books, magazines, and notebooks. They are used to manufacture containers, cartons, and trays employed to serve food as well as store medicines, food, and dairy products.
Specialty Paper and Paperboards Market Trends
Packaging applications hold a major share in the specialty paper and paperboards market, followed by printing and graphics. Consumption has been observed to be related to economic trends (GDP). The industry requires extensive investments, which is why a few prominent players usually dominate the market in a region.
The usage of digital media has increased for marketing and advertising purposes since it offers exposure to a large population and is economical and environment friendly. A major cause of deforestation is the requirement of paper, which can be lessened by using digital media. This can be considered as a constraint for the market for specialty paper and paperboards.
Retail sector, an ever-growing and organized market, has resulted in an amplified demand of food & beverages and other consumer care products. The number of supermarkets and hypermarkets is also increasing. These factors are expected to be the drivers for the market for specialty paper and paperboards.
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Specialty Paper and Paperboards Market Segmentation
Based on product, the specialty paper market can be segmented into the following divisions: waterproof paper, cotton paper, craft paper, tracing paper, medical grade paper, cigarette paper, and others. In terms of raw materials, the market can be divided into the following categories: additives, fillers, binders, pulp, and others. List of applicationss includes packaging, medical, construction, security, insulation, decoration, and others.
By product, the specialty paperboard market can be split into the following segments: drawing board, specialty cardboard box, containers & cartons, and others. The type-based groups are virgin boards and recycled boards, while applications include the arts, printing & graphics, packaging, food service, pharmaceuticals, and others.
Specialty Paper and Paperboards Market: Region-wise Outlook
The market for specialty paper and paperboards is dominated by Europe, followed by North America, in terms of consumption due to its wide variety of industry applications, easy availability, and increasing disposable incomes of consumers. In North America, the U.S. constitutes a major share in the market. In recent years, the market has expanded and this trend is likely to continue. Asia Pacific is anticipated to develop at a higher rate in comparison to other regions. Increasing population and industrialization in the region is projected to be a major factor for increasing demand for specialty paper and paperboards here. Countries such as China, Indonesia, and India are likely to witness substantial growth.
Specialty Paper and Paperboards Market: Key Players
Key players operating in the specialty paper and paperboards market include The Paper Mill Store Inc., PAPERWORKS, Carthage Specialty Paperboard, ITC-PSPD, Voith, Speciality Papers Ltd., Dow Chemical Company, SNP Inc., Turners Falls Paper, and Mantrose-Haeuser Co. Inc.
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