The global paper coating materials market was worth US$ 2.2 Bn in 2022, and the demand for paper coating materials is expected to reach US$ 3.52 billion by 2032, rising at a CAGR of 4.8% over the forecast period. The factors influencing the growth of the paper coating materials market are:
| Attributes | Details |
|---|---|
| Market Value (2022) | US$ 2.2 Billion |
| Market Value (2032) | US$ 3.52 Billion |
| CAGR | 4.8% |
During the projected period, the sales of paper coating materials are anticipated to be led by the Asia-Pacific region. The growing population and construction activity in emerging economies like China and India are forecast to fuel the need for industrial coating materials in this region.
IBEF predicts that by 2020, paper consumption in India is expected to have increased by 53%. Over the course of the last few years, the Indian paper industry has spent almost $20 billion on investments like infrastructure modernization, capacity expansion, and mergers and acquisitions. Paper's increasing versatility in applications as diverse as corrugated boxes and food packaging is expected to drive demand for paper coating materials. The Government of India and the Ministry of Commerce and Industry founded the India Brand Equity Foundation (IBEF) to increase demand for Indian exports and boost the reputation of Indian brands abroad.
The rising paper market has been propelled by rising environmental awareness about plastic use, particularly in the Asia Pacific and Middle East areas. The top companies in the paper coating materials market frequently implement product innovations and geographical expansions as part of their overall strategies.
The Asia Pacific area, is home to the world's largest producers of paper coating materials. Companies like BASF SE, Eastman Chemical, Asia Pulp & Paper (APP) Sinar Mas, Nippon Paper Industries Co. Ltd, and Michelman Inc. are at the forefront of the paper coating materials industry.
Many nations, including India and China, are promoting paper packaging products over plastic packaging. Thus the shift toward eco-friendly and sustainable paper packaging is likely to gain pace.
Paper coating materials are various compounds that are used to coat the paper in order to improve and enhance its glossy appearance, brightness, opacity, and ink absorption characteristics. There are several chemicals such as Silicate of Magnesia, Calcium Magnesium Carbonate and Alganic acid which are used to prepare the paper coating materials.
The demand for paper coating material market is influenced by the growing consumption of paper for various purposes such as Packaging, office paper, stationery, corrugated boxes, wallpaper and bookbinding. Paper coating materials are available globally owing to its increasing demand across the world and anticipated to project a remarkable growth during the forecast period 2015-2025.
The paper coating material market is anticipated to show significant growth with a single digit CAGR.
The technological advancement in paper coating process, various advantages offered by the paper coating materials and emerging markets especially in Asia Pacific region, are expected to drive the paper coating material market with exponential growth rate during the forecast period 2015-2025.
However, the increased use of electronic gadgets and applications such as smartphones, computers, e-book and e-newspaper has reduced the use of paper which might hinder the growth of paper coating material market.
Depending on geographic regions, global paper coating material market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
Asia Pacific region dominated the global paper coating material market followed by North America and Western Europe in terms of market revenue. Asia Pacific region is expected to be the fastest growing region during the forecast due to the emerging markets in this region such as China, South Korea and Japan.
Omya AG (Switzerland), Michelman Inc. (The Netherlands), Archroma (Switzerland), Imerys S.A. (France), DuPont (USA), Dow Company (Michigan), Penford Corporation (U.S.), and BASF (Germany) are the major players in global paper coating material market. With the adoption of various strategies such as strong research and development, launching of new products and active strategic adoption, these companies have dominated the global paper coating material market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Paper Coating Materials Market
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