The global converting paper Market is projected worth US$ 440.2 billion by 2026 and the market is projected to showcase 2.2% CAGR during the forecast period. The converting paper market is driven by rapid expansion in the e-commerce packaging sector.
The consumption of converting paper for tasks apart from writing and printing is growing across the globe. For instance, the sanitary and packaging industry are using converting paper on a large scale. The adoption of converting paper for industrial packaging is growing owing to the low cost and sustainability as compared to other materials such as plastic or glass. The usage of converting paper material for the manufacturing of bulk containers, liners, and absorbents has significantly improved in the past few years owing to the high-quality products.
The rapid increase in digitalization is expected to reduce the demand for printing and writing paper. The digital media is replacing the paper which can be one of the restraining factors that hinder the growth of the traditional paper market. The evolution from printing paper to packaging paper due to the growing e-commerce market and customer preference for converting paper packaging are the major factors boosting the demand for converting paper market globally. With the help of digital tools, converting paper and packaging manufacturers are improving their customer services and manufacturing activities to ensure better product quality, tracking information of shipped goods, and suitable customer support.
The global converting paper market is segmented into the application, pulp type, paper type, end use, and region. On the basis of application, the global converting paper market is segmented into newsprint, hygiene paper, printing paper, writing paper, and others. On the basis of pulp type, the global converting paper market is segmented into mechanical wood pulp, semi-chemical pulp, chemical wood pulp, non-wood pulp, and recycled pulp. On the basis of paper type, the global converting paper market is segmented into uncoated and coated. On the basis of end use, the global converting paper market is segmented into packing& wrapping, food service, printing, consumer goods, and others. On the basis of the region, the global converting paper market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Based on the application, the global converting paper market can majorly be segmented into five sub-segments, which are newsprint, hygiene paper, printing paper, writing paper, and packaging. The packaging sub-segment is expected to dominate the global converting paper market. In the packaging segment, converting paper is used for manufacturing carton board, corrugated board, and flexible paper. Most of the converting paper are used in packaging applications due to the low cost and eco-friendly packaging. The carton board segment is expected to witness fast-paced growth over the forecast period.
The Asia Pacific is projected to be an evolving market for converting paper during the forecast period. The rapidly developing packaging industry of China and India is the major driver for the converting paper markets in the Asia Pacific region. The U.S is estimated to dominate the converting paper market due to the evolving packaging industry and intolerance for plastic products in packaging. The rising digital media is anticipated to restrain the development of graphic paper in the North America region.
The major players associated with the converting paper market are Georgia-Pacific LLC, International Paper Company, UPM-Kymmene Oyj, Domtar Corporation, Verso Corporation, Burgo Group SPA, American Eagle Paper Mills, Catalyst Paper Corporation, Rolland Enterprises Inc., Finch Paper LLC, Stora Enso Oyj, Canfor Corporation, Clearwater Paper Corporation, P.H. Glatfelter Co., Mitsubishi Paper Mills Limited, BillerudKorsnäs AB, Twin Rivers Paper Company Inc., Delta Paper Corp., Asia Pacific Resources International Holdings Ltd., and Alberta Newsprint Company Ltd., etc.
Key manufacturers in the global converting paper market are focused on investing heavily in research and development activities in order to manufacture innovative converting paper for effective applications. Additionally, the players in the global converting paper market are focusing mainly on merger and acquisition and developing strategic partnerships with other players in order to expand their business geographically as well as by capturing huge market share.
Market By Application
Market By Pulp Type
Market By Paper Type
Market By End Use
Market By Geography