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Converting Paper Market to Surpass US$ 556.2 Mn by 2030

Converting Paper Market to Surpass US$ 556.2 Mn by 2030 - Coherent Market Insights

Publish In: Apr 04, 2023

The global Converting Paper Market was valued at US$ 417.4 million in 2022, according to Converting paper Market Report by Application (Newsprint, Hygiene Paper, Printing Paper, Writing Paper, and Others), by Pulp Type (Mechanical Wood Pulp, Semi-chemical Pulp, Chemical Wood Pulp, Non-wood Pulp, and Recycled Pulp), by Paper Type (Coated and Uncoated), by End use Industry (Food Service, Packaging & Wrapping, Printing, Consumer Goods, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa). Published By: Coherent Market Insights.

The global converting paper market is projected to reach US$ 556.2 million by 2030, exhibiting a CAGR of 3.65% during the forecast period (2023-2030). Factors such as the emergence of low-cost and sustainable products coupled with increasing demand for converting paper in the packing & wrapping, printing, consumer goods, and other industries are expected to drive the growth of the global converting paper market over the forecast period. Furthermore, demand for efficient packaging solutions in lightweight packaging formats is increasing in evolving e-commerce industry. Converting paper is used in packaging applications, owing to eco-friendly packaging formats. According to the Wisconsin Economic Development Corporation, the Indian packaging industry is expected to be worth US$ 204.71 billion by 2025, growing at a CAGR of 26.8% between 2020 and 2025, as reported by Invest India (National Investment Promotion and Felicitation Agency), As a result, substantial growth in the packaging industry is expected to drive demand for converting paper during the forecast period. Digitalization is adversely affecting the writing and printing paper markets. The growing adoption of digitalization is expected to reduce the demand for printing and writing paper. Paperless communication and digital media are replacing paper and are anticipated to adversely affect the converting paper market for office paper and newsprint. Moreover, the covid19 pandemic has had a significant impact on the global converting paper market. With lockdowns, social distancing measures, and reduced economic activity, demand for paper products has fluctuated significantly. For instance, one of the major impact has been on the demand for tissue paper products, such as toilet paper and paper towels. At the on set of the pandemic, panic buying led to a surge in demand for these products., leading to shortages in many parts of thye world. However as lockdowns and other restrictions were put in place, demand for tissue paper products declined as people spent more time at home and reduced their usage outside of public spaces.

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Browse 54 market data tables* and 32 figures* on "Global Converting paper Market” - Global forecast to 2030.

Key Takeaways of the Market:

  • Based on application, the converting paper market is segregated into newsprint, hygiene paper, printing paper, writing paper, and others. Others segment comprises industrial packaging, textile, and automobiles.
  • In 2018, the hygiene paper segment held a dominant position in the market, in terms of revenue. The increasing demand for hygiene paper is driven by its rising awareness among emerging economies about health, hygiene products, and its high usage. Major applications of hygiene paper include feminine hygiene products (tampons, pads, and napkins) baby diapers, and adult incontinence products. Hygiene papers are transparent, lightweight, and eco-friendly products and they prevent the spread of infection and disease.
  • In 2022, Asia Pacific held the largest revenue share of around 41.60% in the global converting paper market. Major factors driving the growth of the market in the region include increasing demand for converting paper from the packing and wrapping industry in countries such as India, China, South Korea, and Japan that house some of the major packaging and wrapping companies such as Pro-Pac group, Airbag Packing Co., Ltd. c/o Kunshan Airbag Packing Corp., Anhui Zengran Packaging Technology Co. Ltd., Baopack Auto Packaging Machine Co. Ltd., Changzhou Jerry Packaging Technology Co. Ltd., and others.
  • 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.
  • Key players in the market are focused on increasing production capacity and research and development (R&D) investment, in order to enhance their product offerings. For instance, in September 2017, International Paper Company invested around US$ 300 million in its paper-converting machine at Riverdale Mill. It produces high-quality containerboard and white top liner board from fresh uncoated sheets. This investment helps the company to increase its annual production capacity to 450,000 tons.

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