Global Speciality Paper Market to Reach US$54bn by 2027 – Future Market Insights

Nov 9, 2017 - (Newswire)

​​​​Future Market Insights (FMI) has published a research report, which is titled, “Speciality Paper Market: North America and Western Europe Anticipated to be Attractive Regional Markets Owing to High Volume Generation: Global Industry Analysis and Opportunity Assessment 2017-2027.” According to the report, the global specialty paper market is anticipated to rise from US$31bn in 2017 to US$54bn by 2027 expanding at a 5.7% CAGR from 2017 to 2027 in terms of value. The lead author of this report states that the improvement in specialty paper and the introduction of sustainable specialty paper such as water based barrier coating, special performance coating, and lightweight coating are expected to be two important factors boosting the growth of this market.

It is also estimated that the biodegradability of specialty paper, high performance composites, and the emergence of nanomaterials are expected to create new growth opportunities for specialty paper in the years to come. Manufacturers are giving their customers the option of customizable specialty paper products, which have very specific properties as per consumer preference and this will propel the growth of the global specialty paper market.

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The demand of specialty paper for packaging is increasing across various sectors on account of its lower weight, better performance, increased shelf life of products, less scope of contamination, and seamless transportation handling. Specialty paper is used in pouches, for wrapping, in bags and other paper based flexible packaging, which is boosting its demand.

On the basis of geography, North America is estimated to account for 28.7% of the total market in 2017 and Europe will account for 27.2% in the same year. North America is also estimated to exhibit higher incremental value throughout the forecast period as compared to any other region in the world. APEJ is anticipated to expand at a CAGR of 7.3% between 2017 and 2027 and account for 13.9% in 2017. Japan on the other hand, is anticipated to account for 14.3% of the total market in 2017 and register a 6.6% CAGR during the forecast period from 2017 to 2027.

The consumption rate of tea in European countries, especially England and Scotland is very high. The demand for tea bags may be low as compared to tea packets in this region, but it is expanding at a fast pace. As these tea bags are made up of specialty paper and it is biodegradable, the growth of this market will remain healthy in this region.

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As per the report, the application of NFC technology and other electronic labels such as QR code, is witnessing high demand across Europe on account of a high demand for secured transactions and preventing counterfeit operations by secure authentication. Therefore, these kind of labels are being adopted extensively by merchants and brand owners so as to get protection from counterfeit goods with the use of mobile applications. These labels are also becoming popular among consumers as they can purchase authentic items quickly by scanning. As these labels are made up of specialty paper, the market is anticipated to witness high growth in Europe. However, the market in Europe is not expanding to its fullest potential as manufacturers are increasingly making use of plastic as a preferred choice for packaging for products such as confectionery items, dairy products, snack foods, and others. On the other hand the use of glassine paper may help the specialty paper market to grow.

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Original Source: https://www.newswire.com/news/global-speciality-paper-market-to-reach-us-54-bn-by-2027-future-market-20047856

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