The global specialty paper market size is expected to witness elevated growth owing to the increasing number of online shopping portals and rising home deliveries during the forecast period. This information is provided by Fortune Business Insights™, in its report, titled, “Specialty Paper Market, 2024-2032.” Also, factors such as increasing digitization will increase the footprint of the market.
COVID-19 Impact
Lockdowns & Disrupted Supply Chains to Reduce Market Share During Pandemic
The ongoing pandemic created financial ripples for the market of specialty paper during the intended forecast. Disrupted supply chains & logistics and a shattered transport sector led to a decrease of the market volume exponentially at the beginning of the pandemic. Reduced operations from dependent industries such as packaging, building & construction led to a decrease in sales. Players in the sector were also allowed to continue operations after a brief shutdown period with a less-than-optimal workforce, leading to a slow revival of the market.
Information Source: https://www.fortunebusinessinsights.com/specialty-paper-market-104618
Top Company in the Speialty Paper Market:
- UPM-Kymmene Oyj (Finland)
- Glatfelter Corporation (U.S.)
- Mondi (U.K.)
- Domtar Corporation (U.S.)
- Stora Enso (Finland)
- International Paper (U.S.)
- Ahlstrom-Munksjo (Finland)
- Sappi Ltd. (South Africa)
- Nippon Paper Industries CO. LTD. (Japan)
- Robert Wilson Paper Corporation (U.S.)
Segments
Based on product type, the market can be divided into packaging papers, décor papers, labelling papers, office papers, and others.
By material, the market can be broken down into natural material & recycled material.
With respect to distribution channel, the market can be segmented across specialty retails, online stores, and others.
In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage
The market report for the specialty paper consists of a quantitative & qualitative analysis of the market by integrating critical factors such as leading companies, types of products, and the leading region for every segment. Additionally, factors such as future market trends and ongoing industry developments are noted. Also, factors that are expected to impact the market in a meaningful way are noted in the report.
Drivers & Restraints
Expanding Packaging Industry to Boost Sales of Market During Forecast
Factors such as increasing residential and commercial housing facilities triggering an increase in consumption rate and a rocketing packaging sector will boost the specialty paper market growth during the forecast period. Additionally, increasing demand for online shopping activities and rising requirements from hospitals & pharmacies for specialty label papers will drive the growth of the market. Also, rising digitization activities will push the boundaries of the existing market towards a new horizon.
However, stricter government regulations regarding the limited use of wood material are expected to limit the growth of the market during the forecast period. Additionally, increasing occurrences of uncertain environmental threats including heavy rains & fire in the mills will further restraint the growth of the market.
Regional Insights
Europe Witnesses Largest Market Share due to Large Production Capacity
The market in Europe is expected to occupy the largest specialty paper market share during the forecast period owing to a large production capacity in the region along with the increasing packaging paper sector. Additionally, increasing urbanization & globalization rates among the general population will increase the footprint of the market during the forecast period.
The Asia Pacific will hold considerable market share during the forecast period owing to increasing infrastructural facilities regarding pharmacy stores in emerging economies including India & China. Also, the increasing trend of home decoration will push the boundary of the market towards a larger horizon.
Competitive Landscape
Accelerated Product Development & Mergers & Acquisitions to Push Players Towards Dominance
The sector of specialty paper comprises various big and small players, which divides the market into a highly competitive place. Players are focused on integrating strategic tactics such as mergers & acquisitions, increasing investments towards R&D activities, partnerships & agreements, joint ventures, and introducing novel products to expand their market share. For example, in May 2021, UPM-Kymmene Oyj launched their latest product under their specialty paper range, namely, UPM Asendo Pro. UPM Asendo Pro is an advanced fiber-based barrier paper that is expected to serve a wider range of applications. Others are focused on expanding their consumer base by increasing their presence across various regions simultaneously.
Industry Development
- February 2020: Resolute Forest Products Inc. announced acquiring three U.S.-based sawmills from Conifex Timber Inc. in order to scale their capacity of producing specialty paper.
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