Global specialty paper market is expected to flourish at a significant CAGR of 7.2% during the forecast period. Moreover, the global specialty paper market is expected to reach 34,954.3 KT by the end of 2021. Wide scale application of specialty paper in various industries is fostering the growth of specialty paper market. Moreover, advances in packaging industry are further anticipated to fuel the demand for specialty paper market.
Asia Pacific showcased the highest demand for specialty paper in 2016. Further, riding on the back of factors such as rapid growth of food and beverage industry and growing utilization of masking tape in real estate, Asia-Pacific is projected to continue its dominance during the forecast period. Further, in developing nations such as China and India, innovations and technologies are driving packaging industry market. Moreover, packaging market is witnessing double digit growth in growing economies which further, is anticipated to positively impact the growth of the specialty paper market. Europe is the second biggest market and expected to showcase a tremendous growth over the forecast period i.e. 2017-2024.
Rising Demand for Food & Beverage Products in the World
Increasing demand and consumption of food and beverages such as tea bags and bakery products is driving the growth of specialty paper market across the globe. Apart from this, rising disposable income and changing lifestyle of the people is anticipated to bolster the growth of the specialty paper market.
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Technological Advancements and Developments
Advances in technologies such as thin elastic packaging materials are anticipated to drive the growth of the specialty paper market. Moreover, enhancements and developments in specialty paper such as gas barrier technologies are accelerating the growth of the global specialty paper market.
Although, availability of alternatives such as glassine paper and growing trend of utilization of plastic wraps are some of the key factor which is likely to dampen the growth of specialty paper market during the forecast period.
The report titled “Global Specialty Paper Market Analysis & Opportunity Outlook 2021” delivers detailed overview of the global specialty paper market in terms of market segmentation by product type, by raw material, by end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global specialty paper market which includes company profiling of Mondi Plc., Oji Holdings, Nippon Paper Group, Stora Enso, Sappi Ltd., International Papers, Domtar Corporation, Asia Pulp and Paper Co. Ltd., Staples Inc. and Dunn Paper. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global specialty paper market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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