Friday, June 21, 2024

Coated Paper Market Expected to Reach USD 67.89 Billion By 2030

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The global Coated Paper market is forecasted to grow at a rate of 3.3% during the period 2019-2030. The market under study had a value of USD 50.54 Billion in 2021. The demand for the industry is primarily driven by the rise in online sales or trade, rising demand for advertising and packaging in different sectors, demand from advertisement media like newsprints, magazines, brochures, and catalog among others.

The rise in e-commerce and online shopping of various goods and items is creating a huge demand in the packaging industry. This, in turn, is driving the growth of the industry and increasing its demand. Apart from that, people are also eager to use eco-friendly products and are willing to abandon plastic packaging. The food and beverage industry is also moving away from plastic packaging and adopting eco-friendly and biodegradable alternatives. These factors are giving a huge boost to the industry’s growth. Governments in European countries, the USA, India, China, among others, are taking initiatives to ban plastics as packaging material, and paper packaging is coming up as the next best alternative. Thus, in a nutshell, changing trends in the packaging industry are predicted to contribute largely to the market’s growth during the forecast period.

Deforestation across the world is making the supply of wood pulp scarce, and its price is also increasing. This is creating some problems as the cost of coated paper products is increasing, and thus, the industry is facing stiff competition from its alternatives. The industry is also capital and labor-intensive, and increasing labor rates around the world are having an effect on the products in the market. Thus these are some factors which are restricting the industry’s growth. In order to solve these problems, major players in the industry are trying to develop innovative packaging, labeling, and printing solutions in order to reduce cost as well as maintain sustainability.

The COVID-19 impact:

COVID-19 is having positive effects on the industry to a certain extent as this crisis is constantly booming the e-commerce sector. Lockdowns implemented in various parts of the globe have restricted people from going outside, and they are largely dependent on online delivery services even for items they use in their daily life. These products need to be packaged before delivery, and this paves the demand for the market’s products. Coated paper is widely used in packaging or labeling, and this is fuelling the industry’s demand even in this crisis situation. But industry experts are also worried about the fact that demands may soon surpass supply as the production process has been disrupted to a large extent in many parts of the world. The major players are looking forward to increasing their production capabilities and take advantage of the situation, thus driving the industry’s growth further.

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Regional Outlook: In 2021, the Asia Pacific dominated the coated paper market, accounting for the largest revenue share, and is expected to witness the fastest revenue CAGR. The growth is attributed to the thriving e-commerce industry, online trade, and the rising printing sector. North America is projected to experience rapid growth, driven by the U.S. economy’s dependence on the corporate sector, leading to increased usage of paper products.

Competitive Landscape: The global coated paper market features a moderately fragmented competitive landscape, with key companies operating at both global and regional levels. Companies engage in product development and strategic alliances to expand their product portfolios. Key players include Dunn Paper Company, Lecta, Nippon Paper Industries Co., Ltd., Stora Enso, Svenska Cellulosa Aktiebolaget SCA (publ), Twin Rivers Paper Company, Sappi, JK Paper Ltd, Minerals Technologies Inc., Burgo Group S.p.A., UPM, Paradise Packaging Pvt. Ltd., and Imersys.

Further key findings from the report suggest

  • The global coated market size is predicted to reach USD 60.205 billion by 2027. The packaging industry, along with the rise in online trade, is contributing majorly towards this figure.
  • The segment held a market share of more than 65.0% in 2019. Coated fine papers contain less amount of mechanical pulp and are mainly produced from the chemically bleached pulp. These papers provide excellent brightness, and that is why its demand has been consistently high every year.
  • The Grounded Calcium Carbonate variant of Calcium Carbonate segment would contribute to the segment’s growth during the forecast period as it is cost effecting and provides gloss, brightness, and opacity to the coated paper.
  • Apart from packaging, the Printing application segment is projected to witness a growth rate of 3.3% during the forecast period. As compared to other applications, the Printing segment is projected to witness a slow growth rate due to the increasing digitalization which may negatively impact the demand for printing.
  • The Asia-Pacific market is predicted to witness a significant growth rate of 3.8% during the forecast period. The expansion of the market in this region is mainly due to China and Japan that is supported by its consumer base, affordable labor, and regulations restricting plastic usage. The e-commerce industry is also gaining momentum in this part of the world.
  • Some of the key product launches in recent times are Liberty and Futura by Verso Corporation, Sinar Fold, and Sinar Card by Asia Pulp and Paper. Nippon Paper Industries have come up with innovative technologies like cellulose nanofibre, afforestation technology and kraft lignin.
  • JK Paper, proposed the launch of a 4250 mm wide coated board machine at the end of 2020. The machine contains extensive automation capabilities.
  • Key participants include Asia Pulp & Paper, Dunn Paper Company, Lecta Group, Nippon Paper Industries Co. Ltd., South African Pulp and Paper Industries Limited, Stora Enso, Svenska Cellulosa Aktiebolaget, Twin Rivers Paper Company, Verso Corporation, and Burgo Group SPA.
  • Deals Landscape
  • Important deals taking place in the market include Nippon Paper Industries acquiring 70% stakes of TS Plastics Sdn. Bhd in 2019, Dunn Paper Company acquiring Clearwater Paper Ladysmith Wisconsin Facility for USD 72 million in 2018 and Lecta Group acquiring 100% shares of Pilot Service SRL in 2017.

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