The rising demand for kraft papers in different end-use sectors, such as consumer durables, automotive, building and construction, cosmetics and personal care, food and beverage is expected to propel the global kraft paper market forward. Additionally, various factors such as growing urbanization together with kraft paper’s recyclability are expected to lead to the market’s expansion throughout the forecast period, from 2018 to 2026.
Some of the key players in the global kraft paper market comprise Smurfit Kappa Group Plc., Kapstone Paper and Packaging, Billerudkorsnas AB, Georgia Pacific LLC, Mondi Group, Stora Enso Oyj. Several firms in the global kraft paper market are also making investment in research and development activities to acquire a competitive advantage over their competitors. Some well-established businesses are concentrating on kraft paper-based sustainable packaging solutions.
In 2017, the global kraft paper market was valued at US$ 14.819 Bn. During the forecast period, from 2018 to 2026, the global kraft paper market is expected to grow at 3.9 % CAGR.
Driven by Demand from the Packaging Industry of India and China, Asia Pacific to Drive Growth
In terms of region, the global Kraft Paper market is classified into the principal regions of Latin America, Middle East and Africa, Asia Pacific, Europe, and North America. It is anticipated that regional classifications would provide a better knowledge of the market dynamics at play at the regional level.
The rising demand for kraft papers in highly populated nations such as China and India is ascribed to the market’s growth in the Asia Pacific region, as it is being increasingly utilized in the manufacture of packages to provide safety of packaged items, sustainability, and cost savings. In addition to that, the growing use of kraft papers in the various end use sectors like building and construction , consumer durables, healthcare, and food and beverage is expected to propel the Asia Pacific kraft paper market forward. The expansion is fueled by fast adoption of the product in a number of end-use sectors. This is particularly due to the growing usage of kraft paper packaging in food and beverage applications.
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Innovations in Terms of Printability and Look to Drive Growth of the Market
Growth of the global kraft paper market growth is driven by packaging sector advancements. Packaging goods produced from sack paper and paper board are making use of a large number of applications. Flexible, strong, and barrier-protective goods are developed by manufacturers in the global kraft paper market. Kraft paper packaging has sparked attention from consumer goods firms throughout the world. Kraft paper is growing as a result. The growing need for specialized packaging manufactured from corrugated paper has given the global kraft paper industry a major boost. In addition to that, the global kraft paper market’s customization trend is backed by producers’ emphasis on offering customer-friendly goods. As a result of tighter restrictions on the usage of plastics in packaging, the demand for kraft paper-based packaging has increased substantially in recent years and the trend is likely to continue in the years to come. In a number of industrialized and developing nations throughout the world, polymer-based packaging has been criticized.
The global kraft paper market may face major constraints due to fluctuating availability of raw materials for the kraft pulping process in some locations. On the other hand, kraft paper makers’ constant quest of innovation has led them to concentrate on enhancing the printability and look of kraft paper, amongst other essential functional qualities. To that aim, they are concentrating on enhancing kraft paper’s chemical and mechanical purity. These advancements will pave the way for new opportunities in the global kraft paper market.
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The information shared in this review is based on a TMR report, bearing the title, “Kraft Paper Market (Product Type – Specialty Kraft Paper, Sack Kraft Paper; Grade Type – Bleached, Unbleached; Finish Type – Glazed, Finished; Basis Weight – <30 gsm, 30-90 gsm, 90-120 gsm, 120-200 gsm, >200 gsm; Application Type – Bags and Pouches, Sacks, Envelopes, Corrugated Sheets, Composite Cans, Cartons; End Use – Food and Beverages, Pharmaceuticals, Building and Construction, Cosmetics and Personal Care, Electronics and Electricals) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.”
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