Specialty paper market to grow at CAGR 5.1% during 2019-24: IMARC Group

According to IMARC Group, the global specialty paper market is further projected to reach a volume of 42.8 Million Metric Tons by 2024.

Global speciality paper market has witnessed positive growth over the past few years. This growth is being supported by increasing utilization of speciality paper by the e-commerce sector, significant growth in the consumer goods industry as well as rising demand for paperboard and industrial paper.

According to the latest report by IMARC Group, titled 'Specialty Paper Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024', the global speciality paper market volume reached of 31.9 Million Metric Tons in 2018. Speciality paper refers to a superior quality paper which is produced or designed for a specific application. It is manufactured using Nano-based materials, composites, fibres and different types of pulp, such as recycled paper, cotton fibre, wood pulp and wood chips. Speciality paper possesses various special performance features including exceptional physical, optical, electrical and chemical properties. At present, it finds applications in several everyday products like coffee filters, cigarette paper, insulation paper, food contact paper, paper currency and carbonless copy paper, among others.

Specialty Paper Market Trends

The e-commerce sector, in both the developing and developed regions, extensively employs speciality paper for labelling and packaging applications. Moreover, significant growth in the consumer goods industry has been acting in favour of the growth of the speciality paper market on account of expanding delivery facilities. In the developed regions, the market demand for speciality paper is further expected to escalate owing to changing lifestyles and growing demand for paperboard and industrial packaging paper. However, the manufacturing of speciality paper generates a considerable amount of carbon emissions which hinders the growth of the global speciality paper market. Looking forward, the global Specialty paper market is projected to reach US$ 42.8 Million Metric Tons by 2024, expanding at a CAGR of around 5.1% during 2019-2024.

Specialty Paper Market Summary

• The speciality paper market is categorized on the basis of product type as label and release papers, printing papers, flexible packaging papers, rolling papers, décor papers, banknotes and security papers, and others. Amongst these, label and release papers represent the most popular type of speciality paper.
• Based on raw material, the market is segmented into pulp, fillers and binders, additives, coatings and others.
• The Specialty Paper market has been analysed on the basis of applications into packaging and labelling, printing and writing, industrial use, building and construction and food service. Presently, speciality paper is majorly used for packaging and labelling applications.
• On a regional basis, the global speciality paper market is divided into Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America.
• The competitive landscape of the market has also been examined with some of the key players being Stora Enso, International Paper Company, Mondi PLC., Nippon Paper Group, Inc, ITC Ltd., Sappi Ltd., Glatfelter, Domtar Corporation, Munksjo Group and Fedrigoni.