The Specialty Paper Market envisions a promising future, poised to expand at a notable CAGR of 5.1%, reaching a projected valuation of USD 26.9 billion by 2033. The Kraft segment, with a 7.1% anticipated growth, is set to contribute significantly, driven by escalating demand for luxury bags and innovative packaging solutions. As the top three countries are projected to collectively hold 40-45% of the global market by 2023, the industry is strategically positioned for regional growth.
Specialty paper’s integral role in the flexible packaging paper market, accounting for 31% of the USD 50 billion industry in 2022, underscores its versatile applications. The future growth trajectory is further underscored by the rising demand for specialty paper in interior designing, where it serves as a decorative element.
With an estimated incremental growth opportunity of USD 10.5 billion, the Specialty Paper Market is poised to thrive, driven by diverse applications and increasing demand for safe and hygienic packaging solutions.
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Furthermore, the top three countries are forecasted to command 40% to 45% of the global industry share by 2023, signifying concentrated growth. A substantial influence is drawn from the realm of interior design, as the demand for specialty paper intensifies alongside the trend of ornate home decor in both developed and developing regions.
With its pivotal role in the flexible packaging paper market, the Specialty Paper industry is carving a niche as a resilient and innovative sector within the broader paper industry.
Specialty paper comes with various added benefits such as moisture resistance, lightweight, waterproof, cost-effective, customizable, and others. It is available in numerous types as per the requirement of end-use application such as décor paper, Kraft paper, thermal paper, carbonless paper, and others.
Specialty paper is also non-reactant in nature, which is suited for food & beverage packaging. Considering the overall benefits, the global specialty paper market is projected to experience soaring demand among several industries, especially packaging and building & construction.
Key Takeaways from the Specialty Paper Market
- Décor product type segment is estimated to hold nearly 41% of share in 2023 and expand by 1.7 times the current specialty paper industry during the forecast period.
- Based on end-use application, the packaging segment is expected to create an incremental revenue opportunity of nearly USD 5.0 billion in the next ten years.
- India specialty paper market is estimated to generate a share of around 44% by the end of 2033.
- The USA specialty paper market is likely to expand by 1.8x the current value during the forecast period.
- Germany specialty paper industry is anticipated to expand at a CAGR of 3.4% during the forecast period.
“The finest paper to use for creating decorative objects is a specialty paper with good printability. Due to urgent need for aesthetic goods that are both biodegradable and environmentally friendly, specialty paper enables producers to offer a wide range of products that are in high demand,” says a lead analyst at Future Market Insights.
Competitive Landscape
Key specialty paper companies faced a reduction in terms of sales and market share during the pandemic back in 2020. However, at present, these players in the global market are gaining high share by developing new products in the specialty paper segment.
Key Players
Mondi plc; Nippon Paper industries Co., Ltd.; Domtar Corporation; Stora Enso Oyj; International Paper Company; UPM¬-Kymmene Oyj; Ahlstrom¬Munksjö Oyj; Oji Holdings Corp.; ONYX Specialty Papers, Inc.; Potsdam Specialty Paper Inc.; KJ Specialty Paper Co., Ltd.; Nordic Paper AS; Asia Pulp & Paper Group; Pudumjee Paper Products; BPM Inc.; The Griff Network (Griff Paper and Film); SWM International; LINTEC Corporation; Monadnock Paper Mills, Inc.
Recent activities and mergers implemented by leading players in the specialty paper industry are
- In March 2022, Stora Enso Oyj launched a renewable high strength material for paper bags named CarrEco Brown. It is made from fresh fibers, provides tear resistance properties, and is safe for food contact packaging.
- In October 2022, Mondi Group announced the investment of 400 million euros in a new Kraft paper machine at the Št?tí mill in the Czech Republic.
- In May 2021, Domtar Corporation announced entering into a definitive agreement for strategic business combination under which the Paper Excellence Group acquired all of the shares of Domtar common stock.
Specialty Paper Market Outlook by Category:
By Product Type:
- Décor
- Thermal
- Carbonless
- Kraft
- Other Types
By End Use Application:
- Printing & Writing
- Packaging
- Building & Construction
- Industrial
- Other Commercial End Use
By Region:
- North America
- Latin America
- Europe
- Middle East & Africa
- East Asia
- South Asia
- Oceania
