Coated Paper Market Scenario
Market Research Future (MRFR) asserts the global coated paper market is anticipated to USD 51.2 billion with a CAGR of 4.3% during the forecast period (2016-2022). The accelerating usage of paper in the packaging industry favors the market growth to a great extent. When a paper is coated with a compound or polymer to offer qualities to the paper such as condensed ink absorbency, weight, smoothness, or surface gloss, it is referred to as coated paper. Either matte finish or glossy, coated paper is used for several applications such as magazines, printing, photo prints, book covers, art books, advertising materials, and catalogs.
Coated Paper Market Potential and Pitfalls
Coated paper is extensively used as it is resistant to wear, dirt, and tear. They are customized by adding textures depending upon the quality required by several end-user industries such as printing, packaging, and labeling. With the ban on plastics regarding packaging, there has been a shifting trend towards degradable and bio-based packaging which needs to be used for flexible packaging of food and beverages, medical products, industrial goods, and consumer goods. With the mounting popularity of home delivery systems and e-commerce, the market is estimated to flourish throughout the estimated period. Coated papers are highly adopted as they provide a variety of textures along with finishing qualities, thereby offering several packaging options. The mounting demand for flexible packaging in the food and beverages sector is further propelling the market growth to a great extent. Coated papers also offer high-quality pictures as compared to conventional papers. This is considered to boost its application in camera and imaging products sector.
In contrast, with the reduction in the supply of raw materials, the global coated market is adversely affected. There has been a decline in the plantation of pulp across the world which has led to the shutdown of pulp manufacturing companies. The high capital and resource requirement coupled with the strong workforce required for the production coated papers can be considered as top barriers to the growth of the market.
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Coated Paper Market Competitive Dashboard
The prominent players operating the coated paper industry growth are Imerys S.A., Asia Pulp & Paper Co. Limited, UPM-Kymmene Corp, Verso Corporation, Stora Enso Oyj, Nippon, Penford Corporation, Sappi Ltd, Arjowiggins SAS, Burgo Group S.p.A., and others.
Geographically, the coated paper market span across regions namely, Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).
Among all the regions, the Asia Pacific region is considered as the largest consumer of coated paper, both in terms of volume and value. Economies such as India and China are expected to boost product demand due to the high availability of raw materials, technological advancements, and expansion of the application industries.
The North American region is estimated to exhibit a significant growth and is anticipated to retain its dominance as the U.S. is predicted to occupy the largest market share in this region. The companies are embracing several strategies like acquisitions, new product launches, and joint venture and partnerships in order to augment their market share. Such factors are expected to favor the market growth in this region.
The European region is considered occupy the second-largest share due to high utilization of bio-based paper in place of polymer-based product in consumer goods and food and beverage sector.
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