Global Converting Paper Market to Reach US$ 458.0 Million by 2027 – Coherent Market Insights
3 June 2019
SEATTLE, May 29, 2019 (GLOBE NEWSWIRE) -- The global converting paper market was valued at US$ 369.2 million in 2018, and is projected to exhibit a CAGR of 2.5% over the forecast period (2019–2027), in terms of revenue.
Key Trends and Analysis of the Global Converting paper Market:
The converting paper market is expected to witness significant growth over the forecast period. This is owing to increasing demand for converting paper from various applications such as hygiene paper, writing paper, printing paper, newsprint, and others.
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Among regions, Asia Pacific is expected to account for significant market share during the forecast period. This is owing to increasing use of converting paper in various applications such as packaging and others in the region. In Asia Pacific, mainly India and China are expected to be the largest consumers of paper for printing, writing and packaging, owing to stringent government regulation for the usage of plastics. According to India Brand Equity Foundation (IBEF), Indian printing and packaging industry generated a revenue of US$ 22.8 billion in 2014.
Major players in the market are focused on expanding their production capacity, in order to enhance their product offerings. Increase in demand for hygienic tissue, is expected to drive global converting paper market growth. For instance, in 2019, according to Group President – Georgia-Pacific Consumer Products Group, Georgia-Pacific is investing over US$ 120.0 million in new tissue machine in Naheola, Alabama mill and also in roll storage building to support the company’s retail bath tissue business. The production form the new machine is scheduled for 2020, with company operating eight facilities across Alabama.
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Key Market Takeaways:
- The global converting paper market is expected to exhibit a CAGR of 2.5% during the forecast period in terms of revenue. The market growth is driven by increasing use of converting paper in various end-use industries such as packaging, good service, packing and wrapping, printing, and others.
- Among regions, Asia Pacific is expected hold largest market share over the forecast period, owing to increasing demand for industrial packaging. Moreover, use of paper conversions into a host of products such as sanitary papers, boxes, bags, and wall paper, and others are expected to boost global converting paper market in the region during the forecast period.
- Pulp created from recovered paper can be used for recycling. Sources of recovered pulp include shoe boxes, catalogs, newspapers, cardboard boxes, magazines, cereal boxes, and office papers. Depending on the need and desire of final product, the recovered paper is further processed to remove sizing adhesives, inks, coatings, or other impurities (a process called de-inking). This recovered paper pulp can be used to produce new paper products, which are made entirely of pulp from wood chips or from recovered content or from a blend of recovered paper pulp. Recycled pulp can be used to produce paper products. Increasing demand for paper products from various industries such as packaging and others is expected to boost global converting paper market during the forecast period.
- Some of the major players operating in the global converting paper market include International Paper Company, Georgia-Pacific LLC, Finch Paper LLC, Burgo Group SPA, Alberta Newsprint Company Ltd., Rolland Enterprises Inc., P.H. Glatfelter Co., American Eagle Paper Mills, Asia Pacific Resources International Holdings Ltd., Canfor Corporation, Domtar Corporation, Twin Rivers Paper Company Inc., UPM-Kymmene Oyj, BillerudKorsnäs AB, Catalyst Paper Corporation, Clearwater Paper Corporation, Stora Enso Oyj, Verso Corporation, Mitsubishi Paper Mills Limited, Delta Paper Corp., and others.
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