The global specialty paper market size is expected to reach USD 36.4 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.1% over the forecast period. The growth of the market is attributed to growing need for packaging and labeling delivery goods. Rise of e-commerce across the world is a major factor increasing the online shopping and delivery of goods, thereby impacting the demand for specialty paper.
Growing e-commerce, along with booming consumer goods industry, is accelerating the global market growth. Online shopping is dominated by consumer goods that require packaging and labeling while shipment, thus fueling the growth of global market.Kraft paper is anticipated to expand at the fastest CAGR of 5.0% in terms of revenue over the forecast period. Increase in demand for food packaging in emerging economies and developing retail infrastructure are driving this segment. Moreover, transformation in storage, distribution methods, and transportation is increasing the demand for this product type.
In 2018, the printing and publishing application segment held the largest share of 34.7% in terms of volume owing to its wide range of applications across various industries. The segment is gradually becoming saturated due to evolution of digitalization. The packaging and labeling segment is expected to expand at a CAGR of over 4.0% in terms of revenue and volume as leading players are making high investment in this segment. For instance, one of the key players named Mondi Group invested heavily in the development of high quality kraft paper. Specialty paper also finds its application in the industrial sector, wherein it is used in electrical applications.
Germany, China, and U.S. are the leading paper manufacturing and exporting countries in the world. Europe exports the largest amount of paper every year due to countries like Germany, Sweden, and Finland that account for a share of 12.6%, 5.3%, and 5.0% respectively, in paper shipment. In 2017, European countries had the highest value of paper shipments amounting to USD 90.7 billion. Asia Pacific was the second largest exporter due to countries like China and Indonesia, accounting for a share of 24.0%.
The market in Asia Pacific is expected to expand at the highest CAGR in terms of revenue as well as volume due to growth of the construction industry in developing countries like India and China. Key players operating in the market include Domtar, Glatfelter, Mondi, Sappi, Fedrigoni, International Paper Company, Nippon Paper, Stora Enso, Robert Wilson Paper Corporation, and Griff Paper and Film.
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