The global speciality paper market is estimated to be valued at nearly US$ 31 Bn in 2017 and is projected to reach approximately US$ 54 Bn by the end of forecast period. The global speciality paper market is anticipated to expand at a CAGR of 5.7% during the forecast period (2017–2027) in terms of value. Western Europe and North America are the global leaders, both in terms of consumption as well as production of speciality paper, and the regions together are estimated to account for more than half of the global speciality paper market. In terms of volume, the global speciality paper market is estimated to register a CAGR of 5.2% over the forecast period.
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Adoption of light weight glassine paper resistant to grease and water is boosting the speciality paper market in Western Europe
The key role of packaging is marketing besides its primary function of protection and transportation. Non-rigid packaging solutions promote visual impressions conveyed by the package. Speciality paper helps provide better performance, lower weight and less scope of contamination, increasing the shelf life of a product and also enabling seamless transportation handling. A wide range of applications such as pouches, bags, wrapping and paper based flexible packaging is a major factor boosting the growth of the speciality paper market in Western Europe. Moreover, the presence of major players and new technology also drives the speciality paper market in this region.
Packaging tea bag demand growing in Western Europe, despite low market share
Europe is one of those regions that has a high consumption of tea. This high demand for tea is fuelled by packet tea. Although tea bags have a low market share in the region, the demand for tea bags is growing at a rapid rate due to tea bags made of speciality paper and the fact that speciality paper is biodegradable acts as an advantage to the growth of the speciality paper market in the region.
Dampening growth of speciality paper in traditional outlets hampering market growth in Western Europe
Dairy products, confectionary items, and snack foods use plastic as a material for packaging. The packaging through chemical coating provided by manufacturers in plastic packaging for dairy products and other packed items is gaining more demand in Western Europe, which may hamper the market of speciality paper in the region. However, the use of glassine paper is shifting the trend with the use of new items such as foil and other plastic wraps.
Labels with informative function, security systems and NFC technology to boost speciality paper market in Western Europe
The application of electronic labels such as QR code and NFC technology is attracting demand in Europe as it enables security and anti-counterfeit functions by authentication. Such kind of applications of labels are getting the attention of brand owners and merchants that help them to get protection from counterfeit goods and with the use of mobile applications, it helps consumers perform quick scans to avoid purchase of imitation goods. Such labels are made of speciality paper and this is helping fuel the market growth of this product in the region.
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Global Speciality Paper Market Attractiveness Analysis, by Region
Among all regions, North America is estimated to account for 28.7% value share in the global speciality paper market by 2017 end, followed by Western Europe with 27.2% value share. North America is projected to exhibit a higher growth compared to Western Europe due to a downfall in the paper industry and the economic turmoil of BREXIT that has affected Western Europe. North America is also anticipated to show a higher incremental value during the forecast period compared to other regions. APEJ is projected to register a value CAGR of 7.3% over the forecast period and account for 13.9% value share by 2017 end. Japan is projected to account for 14.3% value share in the global speciality paper market by 2017 end. The market in Japan will register a CAGR of 6.6% in terms of value over the forecast period.
Sustainable improvement in speciality paper such as water-based barrier coating and lightweight and special performance coating is on the rise due to constant research and development in the enhancement of speciality paper. Likewise, high performance composites, biodegradability and nano-materials are poised to give rise to new markets in the foreseeable future and will continue to boost global market growth. The availability of customisable speciality paper products with specific properties according to end-user preference is an advantage driving the global speciality paper market.
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