At an estimated Y-o-Y growth of around 4% in the revenue recorded in 2018, the global machine glazed paper market is poised to exceed the US$ 12 billion mark in 2019. As reported by a recent research study of Future Market Insights (FMI),
- Unbleached machine glazed paper will remain the preferred choice over bleached paper, among end use industries as well as consumers.
- Kraft paper accounts for nearly 80% of total machine glazed paper sales and will surpass the revenues worth US$ 10 billion toward 2020 end.
- Machine glazed paper with heavy basis weight, i.e. between 71 and 100 GSM and above, will continue to account for a majority of sales in market.
FMI’s report suggests that the rising consumption of paper-based packaging products and the surging demand for sustainable packaging solutions will play a solid role in pushing the consumption of machine glazed paper in the coming years.
Significant Growth in Revenue Share Slated for Building & Construction, Healthcare, and Automotive
Significant applicability in the manufacturing of bags & pouches, sacks, wraps, labels & liners, envelopes, trays, cups, & bowls is expected to continue fueling the sales of machine glazed paper across the packaging and consumer products industries. Moreover, various other prominent end uses in food & beverages, healthcare, building & construction, electrical & electronics, personal care & cosmetics, textile, household, and automotive industries will remain the predominant booster for the growth of machine glazed paper market.
Food and beverages industry will however remain the leading end use industry consuming machine glazed paper, accounting for almost a fourth of the total market value. As an expanding consumer base is preferring food and beverage products that are packaged in biodegradable/sustainable formats such as kraft paper, it is highly likely that the machine glazed paper – particularly kraft paper, will witness significantly growing traction within the food and beverages industry in coming years. This growth is strongly backed by the flourishing online food delivery services sector, especially in developing economies, according to FMI’s analysis.
Building and construction industry is also cited as one of the key end users in machine glazed paper market. The report also points to promising growth in the revenue shares of healthcare, automotive, and electronics and electrical industries in the global machine glazed paper market.
East Asia to Continue Lead, Sacks Consume over a Third of Machine Glazed Paper
More than 1/3rd of the globally consumed machine glazed paper is utilized in the manufacturing of sacks, followed by bags and pouches. The report further prompts at a substantial collective share of coatings, laminates, and warps in terms of revenue, in the machine glazed paper market.
East Asia, currently holding more than 30% of the revenue share in global machine glazed paper market, will reportedly remain dominant through coming years, spearheaded by China. The country has a large pool of manufacturers and a strong consumer base for packaging, which is likely to create lucrative growth opportunities for the machine glazed paper market within China, as well as across the East Asian region.
Machine Glazed Paper Market: Expansion in Existing Production Capacity
Manufacturers have introduced MG (machine glazed) paper machines to enhance their existing production capacity, which has enabled them to expand their businesses in the current value chain and offer complete solutions to their customers. For an instance, Billerud Korsnäs recently (in September 2018) announced expansion of the business by opening up one of the most efficient and Europe’s largest MG paper machines. The company has invested US$ 150 million to fulfil the rising MG paper machine demand in the market.
The report has covered some of the prominent companies actively partaking in the competition landscape of global machine glazed paper market, including Daio Paper Corporation, International Paper APPM Ltd., Nippon Paper Industries Co., Ltd., BPM Inc., Smurfit Kappa Group, Burgo Group SPA, Stora Enso Oyj, Mondi Group, SPE Flexibles, SCG Packaging, BillerudKorsnäs AB, Charta Global, Heinzel Group, Twin Rivers Paper Company, Gascogne Papier, Verso Corporation, Laufenberg GMBH, Asia Pulp & Paper, Thai Paper Mill Company Limited, and Papelera de Brandia, S.A.
Press-release Source – https://www.globenewswire.com/news-release/2019/04/11/1802858/0/en/Machine-Glazed-Paper-Market-is-projected-to-expand-at-a-CAGR-of-4-5-during-2019-2029-Future-Market-Insights.html
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