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The demand for the Converting paper market was estimated at USD 398.34 Bn in 2019. It is projected to witness a CAGR of 1.9% during the forecast period (2020-2028).
Increasing demand for environmental friendly and reusable paper among the packaging industry is one of the major factors expected to support the growth of the global market. This demand is attributed to low-cost packaging solutions as well as the eco-friendly nature of the paper material. In addition to this, converting paper is used for producing personal hygiene products such as sanitary napkins, tissues, baby diapers, etc., that is another factor expected to boost the growth of the market.
E-commerce industry is adopting converting paper for packaging of shipments owing to the high demand for lightweight packaging formats. High penetration of E-Commerce in the market is growing at a substantial rate. Moreover, companies want to stay a step ahead of their key competitors to ensure maximum market share and hence, these are willing to invest in packaging solutions.
Consumption of converting paper for various applications such as writing and printing is becoming prominent in the market. The high adoption of converting paper for industrial packaging is increasing owing to sustainability and its low cost. Moreover, the use of converting paper for manufacturing of intermediate bulk containers, sacks and absorbents have considerably increased in the past few years.
The carton board segment is projected to witness rapid growth throughout the forecast period. The growing adoption of digitalization is expected to reduce the demand for printing as well as writing paper. Digitalization is affecting printing and writing paper market but still, it offers benefits for converting paper manufacturers and suppliers. Converting papers and packaging companies are improving their manufacturing activities and services to offer products with improved quality and track information of shipped goods.
Writing paper had accounted for a significant share of XX% in 2019 and is expected to remain dominant during the forecast period.
In converting the paper market, the writing paper segment is projected to register rapid growth, owing to the increasing utilization of writing paper for newspapers, digital printing, commercial printing, etc. The consumption of converting paper for tasks such as writing and printing is increasing across the globe. For example, packaging and sanitary markets are becoming the emerging end-users for converting paper. The adoption of writing paper for industrial packaging is increasing owing to sustainability and low cost as compared to others.
Recycled pulp accounted for a significant share of XX% of the global Converting paper market in 2019 and is expected to remain dominant during the forecast period.
Pulp can be used for recycling and created from recovered paper. Recycled pulp is used to produce paper products. Packaging is growing all across the globe along with tissue papers and pulp for hygiene products. Sources of the recycled pulp include cardboard boxes, magazines, cereal boxes, shoe boxes, catalogs, newspapers, and office papers. Depending on the need of the final product, the recycled pulp is further processed to remove inks, sizing adhesives, coatings, or other impurities. This recycled pulp can be used to produce new paper products that are made entirely of pulp from recovered content or from wood chips or from a blend of recovered paper pulp. Increasing demand for recycled pulp products from various industries such as packaging and others is expected to boost global converting paper market during the forecast period (2020-2028).
Asia Pacific is likely to dominate the global Converting paper market during the forecast period (2020-2028).
Asia pacific had accounted for a significant share of xx% in 2019 and is expected to remain dominant during the forecast period. In converting the paper market, Asia Pacific is expected to hold the largest market share over the forecast period, owing to the increasing demand for industrial packaging. Moreover, the use of paper conversions into a host of products such as wallpapers, sanitary papers, bag boxes, and others is expected to boost global converting paper market in this region during the forecast period. This is attributed to increasing demand for personal hygiene products and utilization of the converting paper for producing personal hygiene paper products including tissue papers, baby diapers, etc. Asia Pacific market for convertible paper is projected to register significant growth, owing to the growing awareness related to the environment, higher consumer preference for converting paper packaging formats and rapidly growing e-commerce sector in the region.
In the Global converting paper market, the major key players have used various strategies such as joint ventures, acquisitions, new product launches, partnerships, agreements, expansions, joint ventures, acquisitions, and others to increase their footprints in this market.
The key players of converting paper market are Mitsubishi Paper Mills Limited, Verso Corporation, BillerudKorsnäs AB, Burgo Group SPA, Stora Enso Oyj, Georgia-Pacific LLC, Canfor Corporation, International Paper Company, Clearwater Paper Corporation, UPM-Kymmene Oyj, P.H. Glatfelter Co., Domtar Corporation, Twin Rivers Paper Company Inc., Rolland Enterprises Inc., Alberta Newsprint Company Ltd., American Eagle Paper Mills, Delta Paper Corp., Catalyst Paper Corporation, Asia Pacific Resources International Holdings Ltd., and Finch Paper LLC.
Converting paper Market Segmentation:
Global Converting paper Market by Application
- Hygiene Paper
- Printing Paper
- Writing Paper
Global Converting paper Market by Pulp type
- Mechanical Wood Pulp
- Semi-Chemical Pulp
- Chemical Wood Pulp
- Non-Wood Pulp
- Recycled Pulp
Global Converting paper Market by Paper type
Global Converting paper Market by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa