LONDON, May 05, 2021 (GLOBE NEWSWIRE) — According to The Business Research Company’s paper industry outlook report, rising e-commerce is expected to drive the market for paper products in the forecast period. Increasing demand for online shopping will help the demand for packaging material, hence encouraging the paper products market to grow. E-commerce allows the manufacturers to sell their products on a larger platform than before, thereby increasing their customer base geographically, driving the growth of the manufactured wood market.
In countries such as India for instance, e-commerce portals have boosted the sales of paper product manufacturers by giving larger exposure to producers who were confined to one geography. Growth of e-commerce will drive the market for paper products, going forward.
The global paper products market is expected to grow from $837.6 billion in 2020 to $885.6 billion in 2021 at a compound annual growth rate (CAGR) of about 5%. The global paper products industry growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. With paper price forecast in mind, the market is expected to reach $1080.4 billion in 2025 at a CAGR of 5%.
Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) is expected to drive innovation in paper products manufacturing, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence and big data analytics are being used during the manufacturing process, resulting in higher productivity, lower operating costs and higher margins. This allows companies to expand production and increase product portfolio, thus driving the market going forward.
The Business Research Company’s report titled Paper Products Global Market Report 2021: COVID-19 Impact and Recovery to 2030 covers major paper products companies, paper products market share by company, paper products manufacturers, paper products market size, and paper products market forecasts. The report also covers the global paper products market and its segments.
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The top opportunities in the paper products market segmented by type will arise in the converted paper products segment, which will gain $148.5 billion of global annual sales by 2025.The top opportunities in the paper products market segmented by application will arise in the packaging paper segment, which will gain $178.7 billion of global annual sales by 2025. The paper products market size will gain the most in the China at $41.2 billion.
Asia Pacific is the largest region in the global paper products market, accounting for 35.3% of the total in 2020. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the paper products market will be South America and the Middle East, where growth will be at CAGRs of 10.2% and 8.9% respectively during 2020-2025. These will be followed by Africa and Eastern Europe, where the markets are expected to grow at CAGRs of 6.9% and 6.1% respectively.
Major players with paper industry market shares include International Paper Company, Oji Holdings Corporation, Georgia-Pacific Corporation, Kimberly Clark Corporation, Procter & Gamble, Smurfit Kappa Group PLC, Essity Aktiebolag, Mondi PLC, and Nippon Paper Industries Co., Ltd. and Cascades, Inc.
Growth of the market can thus be attributed to increasing disposable income and increasing demand of paper products from end user industries like packaging and print media, among others. The market is also supported by growing demand for packaging due to growing demand from e-commerce industry. The economic recovery post-pandemic will also support the market for paper products going forward.
Paper Products Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Here Is A List Of Similar Reports By The Business Research Company:
Paper, Plastics, Rubber, Wood And Textile Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Converted Paper Products Global Market Report 2021: COVID-19 Impact and Recovery to 2030
Woodworking And Paper Machinery Global Market Report 2021: COVID-19 Impact and Recovery to 2030
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