Economic development and hectic lifestyles of the urban population in emerging economies have propelled the demand for packaged food products. Consumers are increasingly spending on packaged food products that are convenient in terms of preparation and consumption. The increasing consumption of packaged food is driving the use of specialty paper in the foodservice sector. In addition, in emerging economies, the growing awareness regarding the importance of maintaining personal hygiene has resulted in an increase in the demand for hygiene products, such as tissue paper. As tissue paper forms a segment of specialty paper, the increasing use of tissue paper will drive the growth of the global specialty paper market.
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As per Technavio, the increasing use of specialty thermal papers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Specialty Paper Market: Increasing Use of Specialty Thermal Papers
Thermal paper changes color when exposed to heat, as it is coated with chemicals. This property of thermal paper enables inkless printing. Furthermore, thermal printers are small, less noisy, and have a low cost of ownership and low maintenance cost. Therefore, thermal printing is gaining popularity across many sectors such as retail and healthcare. In the retail sector, thermal paper is used as a point-of-sales receipt given out in supermarkets, hypermarkets, departmental stores, specialty stores, and drugstores. Thermal specialty papers have higher thickness (between 60 and 80 microns) than regular paper (around 50 microns). Therefore, thermal papers are more durable and are widely used as point-of-sales receipts. In addition, thermal papers are also used in automated teller machines (ATM) as transaction receipts. Thus, the increase in use of specialty thermal papers will drive market growth.
“Factors such as the increasing use of MFCs, advent of smart packaging , and the increasing strategic alliances will have a positive impact on the growth of the specialty paper market value during the forecast period,” says a senior analyst at Technavio.
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Specialty Paper Market: Segmentation Analysis
This market research report segments the specialty paper market by application (packaging and labeling, printing and writing, industrial, construction and others), raw material (hardwood and softwood), and geography (APAC, Europe, MEA, North America and South America).
The APAC region led the specialty paper market in 2019, followed by Europe, North America, South America, and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the presence of China, which is the largest paper-producing country in the world and the presence of leading companies such as Nippon Paper Industries and Oji Holdings.
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Some of the key topics covered in the report include:
- Packaging and labeling
- Printing and writing
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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