Paper Coating Materials Market Size, Industry Share, CAGR, Regional Forecast 2031
Paper Coating Materials Market Analysis
Paper coating materials market size is projected to reach $3.4 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031
WILMINGTON, DELAWARE , UNITED STATES, January 29, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Paper Coating Materials Market by Material Type (Calcium Carbonate, Kaolin Clay, Titanium Dioxide, Starch, Others), by Coating Type (Single-side, Double-side), by End Use (Binding, Stationary, Packaging, Corrugated Boxes, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031".
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Paper Coating Materials Market Growth Statistics:
According to the report, the global paper coating materials industry generated $2.1 billion in 2021, and is anticipated to generate $3.4 billion by 2031, witnessing a CAGR of 4.8% from 2022 to 2031.
Prime determinants of growth
The increase in demand from the paper manufacturing industries, especially for corrugated boxes and cover bindings in food packaging drive the growth of the global paper coating materials market. However, rise in use of electronic devices such as mobile phones, tablets, and e-books restrict the market growth. Moreover, the environmental concerns on non-biodegradable plastics present new opportunities in the coming years.
Leading Market Players: -
BASF SE
The Dow Chemical Company
Celanese Corporation
Imerys SA
Omya AG
Penford Corporation
Michelman Inc.
Nippon Paper Industries Co., Ltd
Eastman Chemical Company
Asia Pulp & Paper (APP) Sinar Mas.
Covid-19 Scenario
The outbreak of the Covid-19 pandemic had a negative impact on the global paper coating materials market, owing to implementation of global lockdown which led to halt all industrial operations across the world, especially in the initial period.
Owing to supply chain disruptions, closure of production facilities, shortage of raw materials, and less labor force, the packaging industry was severely hampered which had a direct impact on the global paper coating materials market.
A significant reduction in demand for consumer goods and raw materials from various industries in different regions resulted in the loss of corrugated packaging manufacturers, which in turn, declined the demand for paper coating materials during the pandemic.
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However, the market has already recovered the loss in the post-pandemic.
The packaging segment to maintain its leadership status throughout the forecast period
Based on end use, the packaging segment held the highest market share in 2021, accounting for more than two-fifths of the global paper coating materials market, and is estimated to maintain its leadership status throughout the forecast period, attributed to ban on lightweight plastic bags in some countries. Growth in demand for flexible paper packaging, owing to rise in awareness among consumers regarding harmful effects of plastic on the environment is another factor that drives the paper packaging industry. However, the stationary segment is projected to manifest the highest CAGR of 5.8% from 2022 to 2031. Rise in inclination toward higher education fuels demand for different types of stationery products. In addition, encouraging government initiatives led to growth of the educational sector in recent years, which has a positive impact on the market growth.
The calcium carbonate segment to maintain its leadership status throughout the forecast period
Based on material type, the calcium carbonate segment held the highest market share in 2021, accounting for more than one-thirds of the global paper coating materials market, and is estimated to maintain its leadership status throughout the forecast period. Increase in demand for paper from packaging applications and hygiene-related products like tissue paper is a major growth driver for the market. However, the starch segment is projected to manifest the highest CAGR of 6.0% from 2022 to 2031, due to increase in closure of paper mill systems.
The single-side segment to maintain its lead position during the forecast period
Based on coating type, the single-side segment accounted for the largest share in 2021, contributing to nearly two-thirds of the global paper coating materials market, and is projected to maintain its lead position during the forecast period. This is attributed to the surge in demand for gift wraps and rise in advertisement activities in developing countries through posters. However, the double-side segment is expected to portray the largest CAGR of 5.2% from 2022 to 2031. Increase in demand for information related magazines such as fashion magazines and science magazines drive demand for double-side coated paper. Double-sided coated papers are usually made up of multiple layers that create a lot more opacity, making them a great option for printing images.
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Asia-Pacific to maintain its dominance by 2031
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for nearly half of the global paper coating materials market, and is likely to dominate the market during the forecast period. Moreover, the same region is expected to witness the fastest CAGR of 5.1% from 2022 to 2031. Rise in population, increase in disposable income, and rise in demand for attractively packaged materials are among the major motivators for the growth of the paper coating materials market in the region. Other regions discussed in the report include North America, LAMEA, and Europe.
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