Global Specialty Paper Market and Prospect Forecast

Global Specialty Paper Market and Prospect Forecast

Global Specialty Paper Production

According to the data released by Smithers, the global specialty paper production in 2021 will be 25.09 million tons. The market is full of vitality and will provide a variety of lucrative diversification opportunities in the next five years. This includes offering new packaging products to replace plastics, as well as new products to meet industrial needs and applications such as filtration, batteries and electrical insulating paper. It is expected that specialty paper will grow steadily at a compound annual growth rate of 2.4% in the next five years, and the demand will reach 2826t in 2026. From 2019 to 2021, due to the impact of the new crown epidemic, global specialty paper consumption will drop by 1.6% (compound annual growth rate).chocolate box

Subdivision of special paper

As more and more consumers begin to order goods online, the demand for label paper and release paper is increasing rapidly. Some food-contact grade papers, such as greaseproof paper and parchment, are also growing rapidly, benefiting from a surge in home baking and cooking. In addition, the increase in restaurant takeout and food delivery has led to an increase in sales of other types of food packaging. The use of medical specialty paper climbed due to the implementation of protective measures for COVID-19 testing and vaccination in hospitals and related locations. These safeguards mean that demand for laboratory paper remains strong and will continue to grow strongly until 2026. Demand in most other industrial sectors declined as end-use industries closed or production slowed. With the implementation of travel restrictions, ticket paper consumption fell by 16.4% between 2019 and 2020; the widespread use of contactless electronic payments led to an 8.8% decline in check paper consumption. In contrast, banknote paper grew by 10.5% in 2020 – but this was largely a short-term phenomenon and did not represent more cash in circulation, but instead, during times of economic uncertainty, consumers held The general trend of hard money.  pastry box  jewellery box

Different regions of the world

In 2021, the Asia-Pacific region has become the region with the largest consumption of specialty paper, accounting for 42% of the global market. As the economic shock from the coronavirus pandemic wears off, China’s paper makers are ramping up production to meet booming domestic demand and sell to foreign markets. This recovery, especially the spending power of the emerging local middle class, will make Asia Pacific the fastest growing region over the next five years. Growth will be weaker in the mature markets of North America and Western Europe.

future trends

The medium-term outlook for packaging papers (C1S, glossy, etc.) remains positive, especially when these papers, combined with the latest water-based coatings, offer a more recyclable alternative to flexible plastic packaging. If these packages can provide the necessary barrier properties against moisture, gas and oil, then this recyclable wrapping paper can be used as an alternative to plastic. Established brands will fund these innovations and are currently looking for viable ways to regulate and achieve their sustainable corporate citizenship goals. The impact of COVID-19 on the industrial sector will be temporary. With the return of normalization and the introduction of new policies supported by the government for infrastructure and housing construction, the demand for paper series such as electrical insulation paper, battery separator paper, and cable paper will rebound. Some of these paper grades will directly benefit from the support of new technologies, such as specialty papers for electric vehicles and supercapacitors for green energy storage. New home construction will also increase the use of wallpaper and other decorative papers, although this will be mainly concentrated in less mature economies such as Asia, the Middle East and Africa. The analysis predicts that before the COVID-19 pandemic, some large companies expanded their global influence by increasing their processing capacity, and achieved cost reduction through vertical integration, thereby promoting future mergers and acquisitions. This has added to the pressure on smaller, less diversified specialty paper producers who had hoped to find their place in a market space reshaped by the COVID-19 pandemic.sweet box