Billing Paper Market Snapshot
[171 Pages Report] The billing paper market is estimated to register year-on-year (YoY) growth of 4.2% in 2021 to total volume of 752.8 ‘000 Tones.
Meanwhile, the global sales of billing papers are expected to grow by 4.4%, enabling the billing paper market value to top US$ 831 Mn in 2021. FMI also forecasts the market to record compound annual growth rate (CAGR) of 6.0% between 2021 and 2031.
In 2021, the China billing paper market grew by 4.3% year on year, bucking initial doubts about how the market would perform during a global pandemic. Across East Asia, total sales of billing paper reached US$ 207 Mn in 2020.
The billing paper market also represented nearly 1% of the total US$ ~62 billion worth global printing paper market in 2020. The percentage of share held by the market is expected to improve over the assessment period.
| Base Year Billing Paper Market Value (2020A) | US$ 796.3 Mn |
| Estimated Billing Paper Market Size (2021E) | US$ 831.2 Mn |
| Projected Billing Paper Market Size (2031F) | US$ 1.48 Bn |
Global Billing Paper Market - 2015-2020 Outlook Compared to 2021-2031 Forecast
Driven by the staggering need for invoice and receipts in institutional and commercial sectors globally, the billing paper market is anticipated to rise at 6.0% CAGR, from 2021 to 2031.
Billing paper consists of paper sheet that are coated with micro-encapsulated dye or ink. When these sheets are written with a ballpoint pen or impact typed with a dot-matrix printer or typewriter, the pressure makes the micro-capsules break and release their dye.
Billing papers are used when more copies of invoices and receipts are required in businesses. Hence, the billing paper market is driven by the rising demand for convenience, budget-friendly, and user-friendly billing transactions.
The pre-printed billing invoice copies are an excellent way to keep data on business organized in an efficient and effective manner by offering customers an instant and tangible transactional record.
With the use of billing papers, preparing invoices and providing receipts have become faster, easier, and mess-free. The growing preference for safety and security and ease in the production of duplicate documents are fuelling the demand in the billing papers market. Additionally, increasing environmental protection concerns will boost the billing papers market due to its eco-friendly, recyclable, and sustainable features.
Why are Billing Papers Highly Sought-after in Corporate Offices?
Billing papers are an excellent way to keep the business organized efficiently and effectively. By adding a unique design logo, eye-catchy captions, motto, important information, rules, and regulations, billing paper gives a personal touch to businesses.
It also saves time, energy, and printing costs by offering customers an instant and tangible transactional record or agreement. Companies can edit, add, or replace information to the billing paper.
Companies can customize billing papers to keep the pre-printed sequential numbering for easy tracking, hole punching, and other business work to keep the copies together for quick reference.
The self-designed billing paper forms offer convenience and ease of use. They are also user-friendly, showcasing specific and essential information. Hence, self-designed and customized billing paper improves a company’s brand image and promotes business.
Growing demand for the same will create lucrative opportunities to the billing paper market.
How are “Green” Billing Papers Shaping Market Growth?
Application of billing papers in diverse end-use industries such as grocery stores, pharmaceutical shops, and offices is increasing. Billing paper (carbon copying paper) manufacturing consumes a substantial amount of montan wax, which is extracted from brown coal or certain types of lignite.
Wide use of lignite wax is unsustainable and costly. Hence, considering the environmental drawbacks of carbon copying papers, carbonless paper is biodegradable and far more environmentally viable.
Additionally, carbonless paper is more efficient than carbon copying paper as each carbonless paper sheet produces legible, neat, and clear 2-part, 3-part, or multiple-part copies at a time. It is more efficient and effective than carbon paper.
It is manufactured by using environmentally friendly wood pulp and has a significant impact on conserving the green cover. Hence, growing preference for eco-friendly, sustainable carbonless paper will reduce the carbon footprint.
In order to curb the carbon emission, demand for eco-friendly and sustainable carbon-less paper will improve the growth in billing paper market.
What is the Impact of COVID-19 Crisis on Billing Paper Market?
Every industry across the globe has been impacted by COVID-19, paper industry is among the worst hit due to supply disruptions and non-availability of raw materials. The pandemic created numerous challenges to the paper and pulp industry across the globe and provided unprecedented possibilities for medical specialty papers, etc.
Due to the travel restrictions and lockdowns, consumers initiated and favored e-commerce and online shopping. Hence, due to the sudden rise in the billing and receipts transactions, the distributors and dealers switched to the billing papers as the most convenient, speedy, and accurate way of billing.
It ensured the safety and security of the consumers and offered valid evidence of proof for sale transactions. Due to the closing of educational institutions, offices, and commercial establishments, the billing papers market had an adverse impact due to the Covid-19 pandemic.
Billing Paper Market - Country-wise Insights
How will Demand for Sustainable Billing Paper Propel the Growth in the U.S.?
According to the study, the U.S. is estimated to account for ~ 85% value share of the North America market through 2021 & beyond.
According to American Forest and Paper Association, paper products are sustainable and essential for a circular economy made from renewable resources and recycled paper products, which can be reused and recycled multiple times by reducing the dumping of landfills.
In the U.S., paper is a widely recycled material, and they are largely invested in recycling infrastructure and creating awareness about recycling practices.
The billing invoice paper has made billing more convenient and more manageable. It also provides durability coupled with high-performance solutions for offset presses, digital duplicators, and high-speed copiers.
- For instance, manufacturers of billing papers such as Pixelle Specialty Solutions have developed carbonless papers (billing paper) made from NatureSolv™ technology, which ensures naturally based, organic solvent to create capsules. Xcelerator® Digital Carbonless rolls (billing rolls) are the environment-friendly responsible choice for printable carbonless papers (billing papers) with proprietary NatureSolv™ capsule technology and 30% Post-Consumer Waste (PCW) options.
Hence, growing demand for sustainable and eco-friendly billing paper in the U.S. will create numerous growth opportunities for the market players over the forecast period.
What is Supporting Billing Paper Sales Across Germany?
As per FMI, demand for renewable raw materials and low-carbon bio economy products, is expected to propel the growth in the billing paper market. Germany is estimated to account ~ 25% value in 2031.
According to Confederation of European Paper Industry (Cepi), the European paper industry wants to lead the decarbonizing and invest significantly on the route towards low-carbon European bio economy where the use of renewable and recyclable raw materials is the top-notch priority.
Hence, Europe billing paper market is highly sustainable and competitive due to the transformation in the sector by using new technologies, new bio-values, and business opportunities.
- For instance, Germany's biggest amusement park, Europa-park, has started using the innovative Blue4est® receipt paper of Koehler paper (from Koehler Paper Group) which is sustainable, durable, and recyclable by taking into consideration the customer's interest in increased sustainable importance.
Rising demand for user-friendly, cost-effective billing papers coupled with growing environmental concern will bolster the growth in the market.
How will Expansion of FMCG and E-Commerce Increase the Billing Paper Sales in India?
The billing paper market in India is expected to account for significant 50% value share during the forecast period. According to Indian Paper Manufacturers Association (IPMA), the paper industry is taking new strides in India due to cutting-edge technology, the Make in India initiative, manufacturing excellence, and sustainability.
India is among the fastest-growing paper market across the globe. It exhibits an exciting scenario using a variety of raw materials such as wood, bamboo, bagasse, wheat straw, and rice husk in paper production.
India's rapid growth in fast-moving consumer goods (FMCG), ready-to-eat food, pharmacy, healthcare, educational, and organized retail sector is expected to have a remarkable impact on the billing papers market.
The billing paper consumption is poised for a big leap forward as the Indian paper industry supports about 5% world's paper production.
Companies are focusing on keeping track of sale transactions with high-quality invoice paper, which maintains reliable records in an organized manner. Also, rising trend of shopping in supermarkets, e-commerce, and readymade takeaway food will augment the growth of the billing paper market.
Why is the Demand for Billing Paper Rising in China?
China’s billing paper market is projected to expand at 6.5% CAGR during the forecast period. Rising demand for convenience and security of billing transactions in business, institutions, and the commercial sector are the major factors propelling the growth in china’s billing papers market.
According to the Chinese Paper Industry Association, China is one of the largest country for paper production and consumption. However, the paper market is experiencing both opportunities and challenges.
In several developed regions of China, consumers have a relatively higher quality of life. With increasing transaction and purchase from shopping malls and growing popularity of e-commerce, consumption of billing papers in China is expected to increase.
Also, the growing consumer’s inclination towards convenience and security against forgery will boost the adoption of billing papers in China.
Why is Australia Anticipated to Yield Credible Growth Opportunities ?
Australia’s billing paper market is expected to account for ~ 85% value share during the forecast period of 2021-2031. Rapid growth in paper recovery, recycling, and customized billing papers are the factors propelling the growth in the market.
According to Australasian Paper Industry Association (APIA), the paper recycling rate in Australia is the highest globally as more than 87% of paper and paperboard consumed have been recovered.
Since paper is one of the most recycled materials, it plays a crucial role in the circular economy. Bill, invoice, and receipt books are required for daily business transactions. Also, customizing and pre-printed bill or receipt book with premium quality adds a professional status.
Hence, businesses are using environment-friendly paper to advertise and boost the brand image. Subsequently, growing manufacturer’s and consumer’s preference for eco-friendly, recyclable, and customized billing papers will propel the demand in Australia.
Billing Paper Market - Category-wise Insights
Which Paper Type in the Billing Paper is Most Preferred Globally?
As per FMI, 2 parts NCR paper segment is experiencing an upward growth rate, accounting for ~35% market share by 2031-end. The 2 parts paper is preferred for forms that need only a single copy of invoices and sales receipts.
According to study, 2 parts NCR papers are expected to have the highest market share due to the easy transfer of handwritten information from the top sheet to underneath. 2 parts NCR paper ensures accuracy of getting the same information on the second copy.
The two parts, billing invoice, and receipt represent the company's branding image. It helps record transactions and eliminates the conflicts and queries that arise as valid, authentic documents.
Also, carbonless (billing paper) two parts invoice forms are cost-effective and an eco-friendly alternative to carbon paper. Availability of readymade customized double part invoice book will also propel the segment growth.
Sales of 2 parts NCR paper are expected to spur as it saves time and reduces human errors by preparing the documentation fast and hassle-free. Hence, growing demand for convenient, safe, and reliable receipt and billing transactions will enhance the billing papers market.
Which is the Chief Application of Billing Papers?
Nowadays, most organizations, institutions, and business sectors switch towards billing paper forms such as invoices, sales receipts, purchase orders, etc. It is mainly used as a receipt given to the customers during the purchase of any products from stores.
As per FMI, increasing adoption of billing paper in institution and businesses will spur the sales over the coming years. Additionally, institutions prefer these billing receipts or invoice books because this is coated to transfer the handwritten or typed data beneath multiple pages.
Businesses save the maintenance cost by using laser printers for bill printing, reducing the waste papers, and accommodating higher demand for convenient and more accessible printing.
The pre-printed and customized carbonless invoice, receipts register, shipping documents, bill of lading, etc., provide convenience and security. Hence, companies and industrial sector are resorting to billing papers due to their cheap, cost-effective, and simple attributes.
Why are Billing Papers of 40–100 GSM Weight Highly Sought-After?
Future Market Insights projects, 40-100 GSM segment is anticipated to dominate the segment, contributing ~60% sales during the forecast period. The 40-100 GSM is the basic standard GSM used in various billing invoice registers.
The highest GSM ensures the stiffness and sturdiness of the paper. For typical office stationery such as invoice and receipt book printing, usually the 70-90 GSM weight paper is preferred. As 70-75 GSM paper are made with superior wood fiber materials, end-users prefer billing papers of this basis weight.
Lighter weights and recyclable good quality papers are excellent for the environment. Also, 75 GSM billing papers are extremely eco-friendly. Hence, increasing adoption of 40-100 GSM weight billing papers will boost the market.
Billing Paper Market - Competitive Landscape
Companies operating in the billing paper market are aiming at acquisition and strategic partnerships with other manufacturers.
- In April 5, 2021, Pixelle Speciality Solutions company announced two strategic investments to expand its product portfolio. The company acquired the security papers and carbonless rolls business from Appvion Operations Inc.
- On March 31, 2021, Pixelle Speciality Solutions the company acquired the roll source specialty paper business from Veritiv Corporation.
- On September 10, 2021, Koehler Paper Group enters into partnership with Claurs films GMBH in the small roll business. The strategic partnership will enable Koehler paper to explore and tap an additional market developed with a new partner.
Scope of Report
| Attribute | Details |
| Forecast Period | 2021-2031 |
| Historical Data Available for | 2015-2020 |
| Market Analysis | USD Million for Value and Volume in Tonnes |
| Key Regions Covered | North America, Latin America, Europe, Middle East and Africa, East Asia, South Asia, and Oceania |
| Key Countries Covered | The U.S., Canada, Brazil, Mexico, Germany, Italy, France, U.K., Spain, Russia, Turkey, South Africa, GCC Countries, Japan, South Korea, India, China, and Australia |
| Key Segments Covered | Paper Type, Basis Weight, Application and Region |
| Key Companies Profiled |
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| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Key Questions Answered in the Report
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What Is the Current Valuation Of Billing Paper Market?
The billing paper market is expected to surpass a valuation of US$ 831.2 Mn by 2021.
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At what growth rate did the billing paper market expand in the last 5 years?
The billing paper market exhibited steady growth at 3.4% CAGR between 2015 and 2020.
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What is the demand outlook for billing paper market?
As per FMI, the market is projected to expand at a CAGR of 6.0% between 2021 and 2031.
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What are the key trends prevailing in the billing paper market?
Increasing preference for self-designed carbonless paper forms for convenience, ease of use, and user-friendly feature is aiding the growth in the market. Hence, growing demand for customized carbonless billing paper to improve the company's brand image are expected to generate lucrative growth opportunities for the market.
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What are the key factors fuelling billing papers sales?
With rising demand for environment-friendly printed papers, companies are switching towards green credentials using sustainable papers. This is expected to increase the sales of billing papers across the globe.
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What is the East Asia billing paper market outlook?
East Asia market is estimated to hold 26.0% value share in the global billing paper market, in 2021.
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What is the cumulative share of top five companies in billing paper market?
Top five key players in billing paper market include Koehler Paper Group, Pixelle Specialty Solutions, Mitsubishi HiTec Paper Europe GmbH, Asia Pulp & Paper (APP) Sinar Mas. and Jinyi Paper Co., Ltd. These major players held market share of 35%-40% in 2020 of global billing paper market.
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At what rate will billing paper market grow in South Asia?
FMI has forecast the South Asia billing paper market to exhibit a CAGR of 8.4% between 2021 and 2031.
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Which Are the Top 5 countries exhibiting high demand for billing paper market?
The U.S., China, India, Germany, and Japan are among leading markets for billing paper market, exhibiting consistently high demand.
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At what rate will Japan billing paper market grow?
As per FMI, Japan billing paper market is expected to rise at 7.5% CAGR between 2021 and 2031.
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Billing Paper Market by Category
By Paper Type:
- 2 Parts NCR Paper
- 3 Parts NCR Paper
- 4 Parts NCR Paper
- 5 Parts NCR Paper
By Basis Weight:
- Up to 40 GSM
- 40-100 GSM
- Above 100 GSM
By Application:
- Institutional
- Educational
- Business
- Households
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
- South Asia
- Oceania
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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