The global specialty paper market is projected to grow at a CAGR of over 4% during the forecast period. The key factor that drives the growth of the market includes the continuous contributions from the key players operating in the market. International Paper Co., Koehler Paper Group, Mondi Group Plc, Nippon Paper Industries Co. Ltd., Sappi Ltd., Smurfit Kappa Group, and Stora Enso Oyj are some of the key players contributing to the growth of the global specialty paper industry.
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New product launches & developments, partnerships, agreements, and acquisitions are some of the key strategies adopted by the players in order to cope in the competitive market and strengthen tehri foothold in the global specialty paper market. For instance, in February 2020, Pixelle Specialty Solutions acquired specialty papers mills business of Verso Corp with an aim to extend its annual production capacity.
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Moreover, in February 2020, Stora Enso Oyj announced the expansion of its renewable packaging materials product portfolio with the launch of novel dispersion barrier materials for food packaging and paper cups. With this expansion, the company is aimed at increasing its customer base as well as generate revenue of the company in the market. Such contribution from the market players tend to expand the global specialty paper market size in the near future.
Moreover, the growth in foodservice industry is creating demand for specialty paper. With the increasing consumption of packaged food among the consumers, the demand for specialty paper for packaging application tends to increase which in turn, will drive the overall growth of the global specialty paper market.
Additionally, the growth in e-commerce industry tends to increase the need for specialty paper for packaging & labelling of consumer goods. The market is estimated to exhibit growth with the rising trend of home delivery services. Moreover, the recent COVID-19 outbreak has further accelerated the growth of the e-commerce industry, which in turn, will provide an ample opportunity for the growth of the global specialty paper industry
Global Specialty Paper Market – Segmentation
By Product Type
- Decor Paper
- Thermal Paper
- Carbonless Paper
- Kraft Paper
- Others
By Application
- Packaging & Labeling
- Printing & Publication
- Building & Construction
- Others
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