According to a new market research report published by Credence Research, Inc. “Book Paper Market By product type (Uncoated Wood Free, Coated Wood Free, Coated Mechanical, Uncoated Mechanical) By Application (Educational, Academic/Professional, Trade/Consumer Books, and Others) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global book paper market was valued at US$ 8,485.82 Mn in 2016, and is expected to reach US$ 10,483.93 Mn by 2025, expanding at a CAGR of 2.5% from 2017 to 2025.
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High demand from Asia Pacific region is the major driver for the books paper market. Increased usage from developing countries such as South Korea, India, and Indonesia and so on, forcing manufacturers to set up bases in this region. Demand from countries where literacy rate is booming is also helping in rise of usage of book paper in this region. Since, paper market in Americas and the European Union has already reached to saturation level, major players in the book paper market is targeting Asia-Pacific for pulp plantation and paper manufacturing.
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With the advent of online and digital media, book papers consumers are migrating towards the usage of electronic media and electronic books due to its easier, simpler and faster characteristics. This has resulted in dramatic reduction in the demand of books paper. However, innovative uses of paper and feature such as bio-degradability, recyclability and re-use ability has made book paper to sustain its position in the market.
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Some of the major companies operating in the market include Shandong Chenming Paper Holdings Ltd, Holmen AB, International Paper Co., Khanna Paper Mills Limited, Nine Dragons Paper Holdings Limited, Nippon Paper Industries Co., Ltd., Norske Skogindustrier ASA, Oji Holdings Corporation, Stora Enso AB, Svenska Cellulosa Aktiebolaget SCA, UPM-Kymmene Corporation, PT Indah Kiat Pulp & Paper Corp Tbk, PT Pabrik Kertas Tjiwi Kimia Tbk, and Sundaram Multi Pap Ltd.
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