Specialty papers are manufactured or converted for a specific use. They are either manufactured separately or the normal paper is converted into specialty paper. They are used in a variety of industries including packaging, e-commerce, food & beverage, building & construction, healthcare, etc. Specialty papers are generally either printed or coated with a foam that serves as a covering. Most manufacturers use a three-part technique for foaming the foams. The first technique makes a two-part foaming foam and the second technique make a single-part foaming foam. The final technique, used to make specialty papers, is known as a blended foaming foam.
Rapid growth of the e-commerce sector in developed and emerging economies is expected to drive growth of the global specialty paper market during the forecast period. E-commerce has emerged as a major platform for online shopping for a vast range of products. According to the India Brand Equity Foundation (IBEF), the Indian e-commerce sector is expected to reach US$ 99 billion by 2024, increasing from US$ 30 billion in 2019, registering a CAGR of 27% during the forecast period. This is typically due to rising internet penetration in India. Specialty paper is used packaging. Thus, these factors are expected to drive growth of the global specialty paper market during the forecast period. Furthermore, the robust development of the food and beverage industry combined with rising urban population is expected to boost the global specialty paper market growth over the forecast period.
However, a shortage of raw materials and strict government regulation is expected to hamper the global specialty paper market growth over the forecast period. The emergence of nano technology can present lucrative growth opportunities in the global specialty paper market. Among regions, Europe is expected to witness significant growth in the global specialty paper market during the forecast period. This is owing to the rise in online shopping combined with increasing delivery of packaging across the region. Moreover, Asia Pacific is expected to register a robust growth rate in the global specialty paper market over the forecast period. This is owing to increasing population coupled with growing industrialization in emerging economies such as India and China.
Key players operating in the global specialty paper market are Domtar, Griff Paper and Film, Glatfelter, Robert Wilson Paper Corporation, Sappi, Stora Enso, Fedrigoni, Nippon Paper, and International Paper Company.
For instance, in February 2020, Fedrigoni Group, an Italy-based paper manufacturer, acquired Ritrama, a company specializing in self-adhesive products.
For instance, in December 2017, Sappi Limited acquired Cham Paper Group, a specialty paper company, for US$ 149 million.
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