Global Converting Paper Market – Insights
Paper converting is a process that comes from taking the paper and converting it into another product. Converting paper finds use in various applications such as hygiene paper, writing paper, newsprint, printing paper, and others. Increasing demand for converting paper from various applications is expected to propel growth of the global converting paper market.
Among pulp type, chemical wood pulp is a pulp obtained Kraft pulping process and it is the most common process used by cooking or digestion of wood treating with different solutions of chemicals. The paper produced from chemical wood pulp are colorless and the products which are manufactured are quite strong. Usually, chemical pulps are used to make writing and printing papers, paper bags, shipping containers, and various other paper product categories that require strength.
Among applications, packaging segment accounted for the largest revenue share in 2018, in the global converting paper market. Converting paper is used in packaging industry for production of carton board, corrugated board, and flexible paper. Growth in packaging industry leads to high demand for converting paper. For instance, in 2017, Wisconsin Economic Development Corporation (WEDC) stated that the Indian packaging industry offered significant business opportunities and held nearly about 4% of the global packaging industry. Furthermore, India's per capita packaging consumption was only 10.5 kg per year, as compared to other countries such as 109 kg in the U.S., 32 kg in Brazil, and 45 kg in China.
However, digitalization and increasing usage of mobiles with high internet speed is adversely affecting newsprint and writing & printing paper markets. Growing adoption of digitalization and high usage of mobile phones for social media networking is expected to reduce the demand for newsprint and printing & writing paper. Paperless communication and digital media are replacing paper and are projected to adversely affect the converting paper market for office paper and newsprint products.
The global converting paper market was valued at US$ 369.2 million in 2018, and is expected to register a CAGR of 2.5% in terms of revenue over the forecast period (2019–2027), to reach US$ 458.0 million by 2027.
Figure 1. Global Converting Paper Market Share (%), By Region, 2018
Source: Coherent Market Insights, 2018-19
Asia Pacific is expected to record the fastest growth in the global converting paper market over the forecast period, owing to increasing demand for newsprint supported by increasing population and improving literacy rates of the populace in the Asia Pacific region. For instance, according to Credit Analysis & Research, an increasing number of magazines and newspapers and rising circulation in India is likely to boost newsprint demand, which is expected to reach 2.7 million tons in 2019. Therefore, significant increase in demand for newsprint is expected to boost the global converting paper market during the forecast period.
Europe is expected to hold significant market share in the global converting paper over the forecast period. According to Confederation of European Paper, paper and board production was stable in 2018, compared to the last three year. Total production of paper reached to 92.2 million tons in 2018 from 91 million tons in 2016. This target was achieved due to upgradation of existing machines and net capacity increase of 1.3 million tons.
Figure 2. Global Converting Paper Market Share (%), By End-use Industry, 2018
Source: Coherent Market Insights, 2018-19
Furthermore, key players in the market are focused on adopting strategies such as technological development and collaborations, in order to strengthen their footprint in the global converting paper market. For instance, in January 2018, American Eagle Paper Mills introduced recycled printing papers, Eagle Inkjet 100. Eagle Inkjet 100 is engineered to deliver exceptional print performance across multiple high-speed inkjet platforms. Produced from 100% post-consumer recycled fiber, Eagle Inkjet 100 offers a high quality, sustainable paper option for consumers and corporations looking to minimize their environmental footprint. It is an ideal and environmentally conscious choice for direct mail, transpromotional marketing and transactional printing.
Major players operating in the global converting paper market include International Paper Company, Georgia-Pacific LLC, Finch Paper LLC, Burgo Group SPA, Alberta Newsprint Company Ltd., Rolland Enterprises Inc., P.H. Glatfelter Co., American Eagle Paper Mills, Asia Pacific Resources International Holdings Ltd., Canfor Corporation, Domtar Corporation, Twin Rivers Paper Company Inc., UPM-Kymmene Oyj, BillerudKorsnäs AB, Catalyst Paper Corporation, Clearwater Paper Corporation, Stora Enso Oyj, Verso Corporation, Mitsubishi Paper Mills Limited, Delta Paper Corp., and others
Converting paper finds applications in sanitary and in packing industry. The consumption of converting paper is growing rapidly for tasks other than printing and writing across the globe. Converting paper finds applications in growing industrial packaging industry, owing to sustainability and low cost as compared to other materials such as metal, glass or plastic. Converting paper material are used in the manufacturing of absorbents, liners, and bulk containers owing to increasing the quality of products, in the recent past.
Converting paper finds applications in packaging industry. This is owing to evolving packaging industry and stringent government regulation regarding intolerance for plastic products in packaging. Therefore, significant growth in packaging industry is expected to boost global converting paper market during the forecast period. According to fact book released by ‘Interpack Alliance’, by 2020, Indian packaging industry is projected to generate a revenue of US$ 73.00 billion from US$ 32.00 billion in 2015.
Among applications, the writing paper segment is expected to hold significant market share in the global converting paper market over the forecast period. Writing papers are paper grades used for commercial printing, newspapers, catalogs, books, business forms, magazines, stationeries, copying and for digital printing.
Among regions North America held dominant position in the global converting paper market, in terms of revenue share, in 2018. This is owing to increasing demand for personal hygiene products and high use of converting paper in making hygiene paper products such as tissue paper, baby diapers, and others. This is attributed to growing health awareness and increasing healthcare investment, which is propelling growth of global converting paper market in this region. According to the Centers for Medicare & Medicaid Services (CMS), U.S., healthcare investment increased by 3.9% and reached US$ 3.5 trillion or US$ 10,739 per person in 2017 from US$ 3.3 trillion or US$ 10,348 per person in 2016.
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“*” marked represents similar segmentation in other categories in the respective section.
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