Market Trends of Paper Coating Material Industry
This section covers the major market trends shaping the Paper Coating Material Market according to our research experts:
Growing Demand for Paper Coating Materials from the Printing and Packaging Industry
- The paper is coated with a blend of materials or a polymer to give certain characteristics to the paper, including weight, surface sparkle, smoothness, or diminished ink absorbency.
- The increasing need for the self-promotion of products on store shelves and mounting environmental concerns make the packaging field the largest consumer of paper-coating materials.
- According to a report published by PMMI, 'The Association for Packaging and Processing Technologies,' the value of the global packaging industry reached USD 42.2 billion in 2021, owing to the increasing population, growing sustainability concerns, more spending power in developing regions, and increasing demand for smart packaging, among others.
- Coated paper is utilized widely in printing applications to enhance aesthetic characteristics. The coated paper in food packaging prevents the passage of moisture and oxygen, keeps the food content fresh, and provides extended shelf-life.
- Globally, approximately 97 million metric tons of graphic paper were produced. Meanwhile, packaging paper and board production amounted to 249 million metric tons. Overall, the quantity of paper and paperboard produced worldwide in 2020 weighed more than 400 million metric tons.
- Hence, owing to the above-mentioned factors, the application of paper coating materials in printing and packaging is likely to dominate during the forecast period.
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The Asia-Pacific Region is Expected to Dominate the Market
- The Asia-Pacific region is expected to dominate the market for paper coatings during the forecast period. The rising demand for paper coating materials from the paints and coatings industry, along with the growing population and construction activities in developing countries, such as China and India, is expected to drive the demand for paper coating materials in this region.
- The increasing focus on eco-friendly and sustainable paper packaging is expected to gain traction with many countries, such as India and China, pushing for paper packaging products over plastic packaging.
- The Chinese packaging industry has grown at a rapid and consistent rate in recent years, owing to expanding economy and rising middle class with greater purchasing power. Food packaging is a major player in the packaging industry, accounting for roughly 60% of the total market share in China. According to Interpak, in China, in the foodstuff packaging category, total packaging is expected to reach 447 billion units in 2023.
- According to the Packaging Industry Association of India (PIAI), the Indian packaging industry is expected to grow at a rate of 22% during the forecast period. Moreover, the Indian packaging market is expected to reach USD 204.81 billion by 2025.
- The largest producers of paper coating materials are located in the Asia-Pacific region. Some of the leading companies in the production of paper coating materials are BASF SE, Eastman Chemical Company, Asia Pulp & Paper (APP) Sinar Mas, Nippon Paper Industries Co. Ltd, and Michelman Inc., among others.
- Owing to the above-mentioned factors, the market for paper coating materials in the Asia-Pacific region is projected to grow significantly during the study period.
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