The global Long Fibers & Specialty Paper market is expected to reach USD 36.77 billion by 2030, growing at a CAGR of 6.20% from USD 41.49 billion in 2021. The market growth is attributed to the growth of the e-commerce and logistics industry, coupled with technological advancements in packaging mechanisms and equipment.
Specialty papers have a wide range of applications, including paper currency, coffee filters, insulation paper, carbonless copy paper, décor papers, and others. Increasing usage of specialty papers in e-commerce activities such as storage, transport, and packaging is driving industry growth. Specialty papers are also used in printing and decorating invitations.
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The growing usage of specialty printing papers, cardstock paper, and specialty tissue papers, along with new and innovative solutions offered by leading industry players, will boost the growth of the Long Fibers & Specialty Papermarket. Additionally, the expanding e-commerce and logistics business, coupled with the massive consumption of consumer goods, will further drive market revenue share through 2027.
The decor paper segment contributed to the largest market share in 2019 in terms of both volume and revenue and is estimated to witness a notable growth rate through 2027. The kraft paper segment is anticipated to register the highest growth rate of 4.4% over the analysis period, driven by growing demand for food packaging and the growth of retail infrastructure in developing economies.
Based on raw material, the filler segment accounts for 30.3% of the specialty paper market share and is anticipated to generate significant revenue over the forecast period. In terms of application, the packaging and labeling segment accounted for 25% of the market in terms of volume and is set to witness notable CAGR through 2027. The printing and publishing segment is also estimated to contribute significantly to the specialty paper market share, driven by increasing usage of specialty paper in security papers, currency, postage stamp, and cheque paper.
Europe is estimated to witness a CAGR of 2.2%, contributing to the maximum revenue generation by 2027, owing to its position as the largest exporter of paper in the world. The Asia Pacific region is estimated to exhibit a growth rate of 6% over the forecast period, driven by increasing industrialization and population growth in the region, as well as the expansion of the real estate industry in emerging countries such as India and China.
Key participants in the global specialty chemicals market include Michelman Inc, Domtar Corporation, Nippon Paper Group, International Paper, Mondi Plc, Stora Enso, Oji Holdings Corporation, ITC Ltd, WestRock, Fedrigoni, and Asia Pulp & Paper Co. Limited, among others. These companies are focusing on product development and innovation to gain a competitive advantage over others.
The report by Reports and Data has segmented the global specialty paper industry based on product type, raw material type, application, and region.
Specialty Paper Market: Notable Innovation
The Long Fibers & Specialty Paper Market has witnessed notable innovations from leading industry players. For example, Pixelle Specialty Solutions™, a major manufacturer of specialty papers, introduced North America's largest portfolio of release liner papers, consisting of 50 standard products, by leveraging synergies across its specialty mills platform. The market's key players, including Michelman Inc, Domtar Corporation, Nippon Paper Group, International Paper, Mondi Plc, Stora Enso, Oji Holdings Corporation, ITC Ltd, WestRock, Fedrigoni, and Asia Pulp & Paper Co. Limited, are focusing on product development and innovation to gain a competitive advantage.
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