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  • 12 November 2019 23:47

Converting Paper Market Growth Driven by the Adoption for Industrial Packaging

The adoption of converting paper for industrial packaging which is expected to drive the growth of the global converting paper market.

The global converting paper market size is anticipated to around USD 440.2 billion by 2026, this market is anticipated to grow with 2.2% CAGR during the forecast time period.

The rising adoption of digitalization is projected to decrease the demand for writing paper and printing paper. The replacement of paper with digital media and paperless communication can be a threat to the traditional paper market. The shifting trend from the printing and writing paper to packaging paper due to the development of the e-commerce industry and customer preference for converting paper packaging formats are some of the major factors boosting the demand for the converting paper globally. Digitalization is adversely affecting the printing and writing paper segments. Also with the help of digital tools, the converting paper, and packaging manufacturers are improving the customer services and manufacturing activities to guarantee better product quality, effective tracking information of dispatched goods, and appropriate customer support.

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Also, the converting paper is broadly used in various applications such as packaging, wrapping, food service, printing, and others. This factor is expected to boost the growth of the global converting paper market. Moreover, the key manufacturers of converting paper are focused on entering into a partnership with other players in order to expand geographical presence. For instance, in February 2018, Canfor Corporation declared the launch of a new sawmill with an estimated investment of around US$ 120 Mn. Also, in October 2018, GP Pro introduced Paper Hot Cup, which is equipped with air pockets that insulate the hot beverage from the cup holder’s hands.

The global converting paper market is segmented into the application, pulp type, paper type, end use, and region. On the basis of application, the global converting paper market is segmented into newsprint, hygiene paper, printing paper, writing paper, packaging, and others. On the basis of pulp type, the global converting paper market is segmented into mechanical wood pulp, semi-chemical pulp, chemical wood pulp, non-wood pulp, and recycled pulp. On the basis of paper type, the global converting paper market is segmented into uncoated and coated. On the basis of end use, the global converting paper market is segmented into packing & wrapping, food service, printing, consumer goods, and others. On the basis of the region, the global converting paper market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Asia Pacific region is expected to dominate the global converting paper market followed by North America and Europe region. The market in the Asia Pacific is expected to grow significantly during the forecast period due to the upsurge in demand from various end-use industries such as automotive, textile, and packaging in developing countries, such as India, Malaysia, Vietnam, and Singapore. The converting paper in North America region is anticipated to hold a significant share in the upcoming years. The demand for converting paper in North America is expected to increase at a significant pace in the coming years.

The prominent players operating in the global converting paper market are Georgia-Pacific LLC, International Paper Company, UPM-KymmeneOyj, Domtar Corporation, Verso Corporation, Burgo Group SPA, American Eagle Paper Mills, Catalyst Paper Corporation, Rolland Enterprises Inc., Finch Paper LLC, Stora Enso Oyj, Canfor Corporation, Clearwater Paper Corporation, P.H. Glatfelter Co., Mitsubishi Paper Mills Limited, BillerudKorsnäs AB, Twin Rivers Paper Company Inc., Delta Paper Corp., Asia Pacific Resources International Holdings Ltd., and Alberta Newsprint Company Ltd., etc. The demand for converting paper in North America region is expected to increase rapidly during the forecast period owing to the huge consumption of converting paper in printing, packaging and other applications. The converting paper market in the North America region is controlled by the large players and is moderately consolidated. The strategic initiatives commenced by the global players include partnerships, new product launch, acquisitions, and mergers.The research initiatives coupled with advanced technologies for manufacturing converting paper is expected to offer innovative packaging solutions that are predicted to offer opportunities for industry participants in the global converting paper market.

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