Coated Paper Market to reach US$64 billion by 2026, packaging sector has been stimulating the global industry
Selbyville, Delaware, United States, September 16 2020 (Wiredrelease) Global Market Insights, Inc –:Global coated paper market size is projected to reach USD 64 billion by 2026, with the packaging sector providing a major boost to the material demand. Packaging plays an extremely vital role in the online purchase and sale of goods. It helps protect from spoilage, damage and wear and tear. Additionally, gaining popularity of ordering food and grocery items from home has led to a rise in the demand for advancements in packaging.
Several initiatives are being undertaken by the governments and other recognized entities to reduce the use of plastic bags across the globe. The Ministry of Commerce and Industry, Government of India has urged the e-commerce industries across the country to gradually eliminate the use of single-use plastic in the packaging of products being sold. Companies have been advised to develop sustainable packing measures, spelling favorable demand conditions for certain coated paper products.
Key manufacturers of coated paper include Twin Rivers Paper Company, BURGO GROUP SPA, Verso Corporation, Dunn Paper Company, and Nippon Paper Industries Co., Ltd. among various others.
Coated fine paper, in particular, has gained considerable demand over the years due to superior brightness of up to 96% as well as its high grammage. These are mainly produced for offset printing from chemically bleached pulp and comprise of lesser amount of mechanical pulp.
Coated fine papers find extensive usage to print magazines, annual reports, catalogs, and advertising materials. Coated papers provide gloss and thickness which is a viable feature for printing applications. It provides a smooth surface for printing books with sharp images and relatively reduced ink absorption.
Printing has emerged as a key consumer of coated papers due to the vast demand for reading items like financial reports, printed magazines, and attractive brochures. The increasing establishment of commercial entities across different sectors of the economy has fueled developments in the printing technologies. Reports estimate that the printing industry in Europe contributes approximately US$99 billion to the economy, indicating a considerable customer based for coated paper.
The growing popularity of e-commerce in both developed and developing nations has facilitated the wide availability of various products at a cost-effective rate, leading to amplified online sale of small items to heavy equipment. Packaging plays a key role in the e-commerce sector to ensure the safe and reliable delivery of goods. In the year 2019, in Europe, the total value of online sales stood at US$700.34 billion.
APAC coated paper market has witnessed considerable gains over the years mainly due to the expanding end-use industries for the packaging sector like pharmaceutical manufacturing, food and beverages, personal care products, and pharmaceutical manufacturing.
Led by China, India, and Singapore, the region has witnessed unprecedented developments in the e-commerce sector due to the increase in penetration of the internet as well as the improvement in disposable income among people in the region.
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