|Study Period:||2019- 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The specialty papers market is expected to register a CAGR of 6.8% over the forecast period 2021 to 2026. Specialty paper provides enhanced moisture retention, pH levels, and hygiene, making it suitable for packaging materials in the food and beverage, lifestyle, and cosmetics industries. Also, rising disposable incomes have increased the demand for high-quality packaging material, boosting the market growth.
- Apart from this, busy lifestyles have increased the consumption of instant tea premix sachets made from specialty paper. Further, specialty paper is used in masking tapes which are used to mask off walls and doorframes. Growth in the construction industry, especially in emerging regions, has also stimulated the demand for masking tape, driving the market growth.
- Sustainable improvement in specialty paper such as water-based barrier coating and lightweight and special performance coating is on the rise due to constant research and development in the enhancement of specialty paper. Likewise, high-performance composites, biodegradability, and nano-materials are poised to give rise to new markets in the foreseeable future and will continue to boost the global market growth.
- The market is gaining traction owing to its rising applications in the e-commerce activities such as packaging, storing, and transportation. Other basic applications of specialty papers other than high-end packaging products include printing invitations and decoration purposes. These products are either produced individually or converted into specialty forms by applying pulp chemicals and are expected to grow over the forecast period.
- The growing usage of the latest design, colors, and materials in home decor is driving new and advanced décor papers. Owing to its convenience, strength, and less impact on the environment, kraft paper is witnessing growing demand for wrapping, sacks, and pouches to handle goods.
- Moreover, the availability of customizable specialty paper products with specific properties according to end-user preference is an advantage driving the global specialty paper market. However, carbon emissions resulting from the paper manufacturing processes, coupled with deforestation, are projected to be a substantial disadvantage of specialty papers, hindering their market growth.
- With the recent outbreak of COVID-19, the specialty papers manufacturer is facing supply chain disruption and decreasing manufacturing at the site in many parts of the world. However, Governments across the globe have deemed food-related businesses essential, owing to which the demand for packaging from specialty papers is expected to be steady during the period.
Scope of the Report
Specialty papers are superior quality papers that are designed for specific purposes. They possess specific features and properties along with proficiency in print technologies and design. These papers are manufactured using nano-based materials, wood pulp, fibers, and composites. They are fed into the machines with certain chemicals and then converted into specialty paper. Specialty paper holds unique characteristics such as chemical properties, physical properties, electrical properties, optical properties, and others.
The market study is segmented into several types such as kraft paper, label papers, container board/paper board, silicon-based papers; end-user industries such as packaging & labelling, food service, printing & publication, building & construction; and geography.
|Container Board/Paper Board|
|By End-user Industry|
|Packaging & Labelling|
|Printing & Publication|
|Building & Construction|
|Other End-user Industries (lamination, retail bags etc.)|
|Middle East and Africa|
Key Market Trends
Food Service Industry is Expected to hold Significant Share
- With the increasing disposable income and hectic lifestyles of the urban population, the demand for packaged food products increases significantly. As specialty paper is extensively used in the foodservice segment for packaging takeout products, the increasing consumption of packaged food products is driving the demand for specialty paper. For instance, Just Eat PLC in the United Kingdom reported that takeaway household expenditure is expected to reach GBP 11.2 billion by 2021.
- In the Foodservice industry, specialty papers are increasingly being used for carryout boxes, carryout bags, paper tubes, paper plates, and cups, and more as they provide good barrier performance, high wet strength, excellent flexibility, print-ability, and increases the shelf life of a product and also enables seamless transportation handling.
- Also, packaging and labeling have become differentiating factors for potential customers in the industry. Therefore, manufacturers and marketers constantly innovate and improve their packaging and labeling solutions to attract potential buyers. This is further expected to boost the market growth for specialty papers in the foodservice industry.
- Moreover, the rising need for food safety and providing convenience to consumers are influencing players in the industry to rapid product developments that enable them to cater to the rising need.
- During the initial spread of the virus, the demand for essential packed food and beverage products surged, companies struggled to meet the rapidly changing demand and faced supply chain disruptions. In addition, the rapid growth of e-commerce has contributed to the growth outlook by driving the growth of specialty paper packaging in the sale of food, beverages, online pharmacies, and drug stores.
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North America is Expected to hold the Largest Share
- The rising trend for on-the-go eating coupled with the rise of the foodservice industry in the region is one of the prominent factors expected to fuel the adoption of specialty papers in the region over the forecast period. According to Home Chef, Americans spend an incredible USD 70,000 on takeout and delivery in their lifetime.
- The market players are also witnessing strategic acquisitions as a lucrative opportunity to expand their market presence in the region. In February 2020, Pixelle Specialty Solutions completed its acquisition of specialty papers mills from Verso Corporation. In a move that allowed the company to extend its production capacity to one million tons annually.
- The region also is witnessing an increased output from the quick-service restaurant (QSR). This is expected to fuel market growth over the forecast period. For instance, according to the International Franchise Association, the Output of the quick-service restaurant (QSR) franchise industry in the United States reached USD 255.53 billion.
- In the North American region, the U.S. dominates as the specialty paper sector proliferates. Also, the increasing consumption of specialty paper as a leaflet in the pharmaceutical industry boosts the demand for specialty paper in the market. Such instances indicate that the market in the region is poised to grow over the forecast period.
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The specialty papers market is highly competitive in nature. The players in the specialty papers market are focusing on recyclability and sustainability to widen their consumer base. Product differentiation along with quality enhancement is a key focus area of key players in the specialty papers market. Some of the key developments in the market are:
- May 2021 - Mondi group introduced a new recycled containerboard machine called the PM19 paper machine at its facility in Slovakia with an investment of EUR 370 million to produce Kraft Top White products. The machine has a capacity to produce 300,00 tones per annum and uses 200,00 tones of recycled paper.
- In April 2020 - Nippon Paper Industries and its wholly-owned subsidiary, Paper Australia Pty Ltd, announced the completion of the purchase of Orora Limited's paperboard and fiber-based packaging business in Australia/New Zealand. Through the acquisition of the Business, Nippon Paper Group will be entering the integrated corrugated paperboard manufacturing business in the Oceania region.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
4.4 Assessment of COVID-19 Impact on the Industry
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Trend of On-the-Go Eating Habits
5.1.2 Changing consumer preference to adopt sustainable decorative lamination
5.2 Market Challenges
5.2.1 Stringent Government Regulations Pertaining to the Usage of Chemicals While Manufacturing of Specialty Papers
5.2.2 Shortage of Raw Materials caused due to Stringent Environmental Regulations for deforestation
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Kraft Paper
6.1.2 Container Board/Paper Board
6.1.3 Label Paper
6.1.4 Silicon-based Paper
6.2 By End-user Industry
6.2.1 Packaging & Labelling
6.2.2 Food Service
6.2.3 Printing & Publication
6.2.4 Building & Construction
6.2.5 Other End-user Industries (lamination, retail bags etc.)
6.3 By Geography
6.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
6.3.3 Asia Pacific
22.214.171.124 Rest of Asia Pacific
6.3.4 Latin America
6.3.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
*List Not Exhaustive
7.1 Company Profiles
7.1.1 Stora Enso Oyj
7.1.2 Nippon Paper Industries Co., Ltd.
7.1.3 Mondi Group PLC
7.1.4 ITC Limited
7.1.5 Domtar Corporation
7.1.6 Nordic Paper AS
7.1.7 Twin Rivers Paper Company
7.1.8 LINTEC Corporation
7.1.9 Sappi Limited
7.1.10 BillerudKorsns AB
7.1.11 Glatfelter Corporation
7.1.12 Fedrigoni SPA
7.1.13 Munksjo Group
8. INVESTMENT ANALYSIS
9. FUTURE OUTLOOK OF THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Specialty Papers Market market is studied from 2019 - 2026.
What is the growth rate of Specialty Papers Market?
The Specialty Papers Market is growing at a CAGR of 6.8% over the next 5 years.
Which region has highest growth rate in Specialty Papers Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Specialty Papers Market?
North America holds highest share in 2020.
Who are the key players in Specialty Papers Market?
Nippon Paper Industries Co., Ltd., Stora Enso Oyj, Sappi Limited, Mondi Group PLC, International Paper Company are the major companies operating in Specialty Papers Market.