The global specialty papers market is expected to witness a CAGR of 5.7% in the forecast period (2020-2027). Growing concerns for environment pollution and efforts to encourage environment sustainability through paper recycling leading in generation of novel paper products, poses as a driving factor in the long run for specialty papers market. The market valuation is expected to touch USD 28.7 billion by 2027.
Specialty papers are used as grade papers that exhibit properties such as strength, density, porosity, wet strength and absorption. The manufacturing process involves a special purpose catering to wedding invitations, birthday cards, packaging of important documents and printed photos. For instance, StoraEnso offers a wide range of specialty papers such as Lumiflex, LumiLabel and NovoBase. LumiLabel and Lumiflex are flexible packaging papers mainly designed as bags, pouches, labels, and food packaging.
Lumiflex is a versatile product, coated from one-side and much ideal for end uses in paper packaging. It is produced with optical brightening agents and enables a natural choice for food packaging. From the industrial standpoint, it is much ideal for process printing and offers a variety of printing options with a high performance. For instance, Lumiflex PE 15 is a flexible packaging paper coated with polymer on the top side for food packaging that prevents any moisture to enter food contents. While, Lumiflex T is a glossy and works great in rotogravure, flexographic and offset printing.
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The major drivers listed in the global specialty papers market report attribute as rise in demand through e-commerce transactions followed by rise in demand for sustainable packaging and manufacturer emphasis on offering eco-friendly paper solutions. In addition, innovation in packaging and labelling techniques have spurred the market demand. On the other hand, many countries such as U.K. and Australia have permanently banned the use of plastics owing to adverse effects on environment. Hence, paper products are the best alternatives for plastics for daily use since it is highly recyclable. Rise of the ecommerce sector coupled with sustainability solutions is fueling the adoption of recyclable packaging. Convenience and awareness of sustainability can drive the adoption rate.
The global specialty papers market is segmented based on raw material, product, application, and region. Application segment is further quadfurcated into construction, industrial, packaging, and printing. Packaging used in the commercial end-use sector maintains a dominant position due to demand for recyclable products. By raw material, it is segmented into fillers & binders, additives, pulp, and others. Types include masking tape, décor paper, flexible packaging papers, printing paper, release liner paper, and others.
Regionally, the global specialty papers market is segmented into Europe, Asia Pacific (APAC), North America, and Rest-of-the-World (RoW). Europe accounts for the largest market share in the specialty papers market in the upcoming years due to stringent environmental laws and inclination towards eco-friendly products. Consumer awareness plays an important role in demand for specialty papers. APAC, on the other hand, is expected to exhibit a robust growth rate due to rampant industrialization and urbanization. The migration to cities has ballooned the urban populace
Technological advances, significant investments, merger and acquisition and product launchers are some of the key strategies adopted by the major players. Major players in the global specialty papers market are Nippon Paper Group, Inc, Munksjo Group, Stora Enso Oyj, Domtar Corporation, Oji Holdings Corporation, Asia Pulp & Paper Co Ltd, Sappi Limited, Potsdam Specialty Paper Inc, Verso Corporation and Mondi Plc.
The market is currently looking for new entrants as evident with the divestment of its specialty papers unit by Glatfelter. The disbursement of funds will be allocated to pay off pending debt.
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