Report: Coated paper market to rise by more than 4.2% CAGR by 2024
By Global Market Insights
By Global Market Insights
Aug. 8, 2017 – According to a new research report by Global Market Insights, the coated paper market size is forecast to cross US$57 billion by 2024.
Increasing popularity of online trade and e-commerce with trending demand for door step delivery of commodities may drive the global coated paper market across retail packaging. With decreasing domestic slack time, owing to dual income families, the demand for home delivery retail system is anticipated to grow exponentially throughout the forecast period.
Coated papers with different textures and grain quality provide various options for the packaging industry.
The Asia Pacific coated paper market will be dominated by China, Japan, India and South Korea due to the rising tech-savvy population. With increasing customer-friendly e-commerce applications and portals, online retail trade will be a major propeller for the demand of coated paper of different grades.
Growing demand for flexible food and beverage packaging for increasing shelf life is also expected to drive the global coated paper market in the forecast period. Replacement of polymer-based food packaging systems with paper-based systems owing to the harmful side-effects of plastic will fuel product growth. Usage of coated paper packaging for cigarettes, industrial goods, medical products, and several other consumer goods may have a positive impact on the market in the next few years. Food and beverages account to more than half of the flexible packaging market and increasing demand of packaged food may steer coated paper market growth.
Strong quality requirements for magazines, brochures, annual reports, cards and other products for advertisement purpose, such as pamphlets and cards, is also believed to influence the growth of the coated paper products market.
Global media expenditure was estimated to be more than US$600 billion in 2015 and with increasing commercialization, this market will witness a steady growth. Aesthetic features of coated papers depending on the reader segments will positively effect the global market in the forecast timespan.
Coated paper market growth will be restrained by decreasing global pulp plantation, resulting in the closure of several pulp manufacturing industries. Shortage of raw materials which comprises of forest woods along with a huge amount of water and energy is shifting the focus on development of non-wood substitutes.