Coated paper market to reach US$57B by 2024: report
Jan. 10, 2017 - A recent report from Global Market Insights estimates the coated paper market share will witness gains by CAGR of 4.2 per cent, valuing more than US$57 billion by the end of 2024.
The research report believes the increasing popularity of online trade and e-commerce with trending demand for doorstep delivery of commodities may drive the global coated paper market across retail packaging. As well, it predicts the demand for home delivery retail system will “grow exponentially” throughout the forecast period.
Growing demand for flexible food and beverage packaging for increasing shelf life is also expected to drive the market, as “replacement of polymer-based food packaging systems with paper-based systems owing to the harmful side-effects of plastic will fuel product growth.” Meanwhile, use of coated paper packaging for cigarettes, industrial goods, medical products, and other consumer goods, as well as quality requirements for magazines, brochures, annual reports, cards and other similar products, is expected to have a positive impact on the market in the next few years.
Additional insights from the report include:
• Fine products, with more than 50 per cent of the overall revenue, will continue to have strong consumption. These find exclusive applications in offset printing which is accountable for more than one-third of all the printed materials.
• Based on application, the coated paper market is led by the packaging industry which accounted for more than 48 per cent of the overall share in 2015. Printing industry will lose its share owing to the increasing digitalization and popularization of e-books and online magazines and newspapers.
• Europe coated paper market size will remain mature in terms of growth opportunities, recording a revenue more than US$14 million in 2015. Asia Pacific is likely to be the most rapidly growing region with CAGR more than 6 per cent from 2016 to 2024.
• Global coated paper market is moderately fragmented with top five companies having less than 40 per cent of the overall market size.
Global Market Insights believes market growth will be restrained by decreasing global pulp plantation, resulting in the closure of several pulp manufacturing industries. “Paper and pulp industry is very capital intensive owing to the huge investments in land, resources, raw materials, and labor forces; and this factor may negatively impact the growth of the coated paper market size in the next few years,” continued the report.
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