Demand for speciality paper set to push market value to $43.4m
The value of the global speciality paper market is set to reach $43.4bn (£31.9bn/€37.5bn) by the year 2026, as demand for products increases in regions around the world.
The value of the global speciality paper market is set to reach $43.4bn (£31.9bn/€37.5bn) by the year 2026, as demand for products increases in regions around the world.
According to a new report by market research company Global Industry Analyst, the sector was valued at approximately $29.5bn in 2020 but is now forecast to expand at a compound annual growth rate (CAGR) of 6.5% in the period to 2026.
Speciality paper can be used across a wide range of print applications, from photo printing and direct mail, to key growth areas such as packaging, interior design and environmentally friendly print work.
The Global Industry Analyst report acknowledges the use of speciality paper in a range of markets and singles out certain areas that will see substantial growth over the next five years and contribute to the development of the wider market.
Décor paper – speciality finishes used to create quality finishes on wooden materials – is set to expand at a CAGR of 6.9% in the reporting period and reach a value of $12.1bn by the year 2026.
Elsewhere, the label paper segment is expected to grow at a CAGR of 7.3% between now and 2026, driven by demand for and use of speciality papers in the US, China, Japan and Europe. These regional markets accounted for a market size of $3.4bn in 2020, though this is now set to increase to $5.5bn over the five-year period, with China expected to see significant growth in particular.
Looking more closely at regional markets and the overall value of the speciality paper sector in China is set to expand at a CAGR of 9.9% and reach a value of $9.1bn by 2026, while Japan and Canada are also forecast to increase at a CAGR of 3.5% and 5.8%, respectively.
In Europe, Germany is expected to grow at a CAGR of approximately 4.1% over the reporting period, though the US is forecast to remain the leading regional market for speciality paper, having led the sector with a value of $8.5bn in 2021.
Speciality paper will be one of a wide range of topics up for discussion at the FESPA Global Print Expo 2021, which takes place from 12-15 October at the RAi Amsterdam Convention Centre. Visitors will be able to speak with experts from a number of leading paper manufacturers and suppliers at the event, as well as find out more about the different types of applications and jobs that can benefit from the use of speciality papers. To learn more about the event, please click here.
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