The global converting paper market size is projected to exceed around USD 440.2 billion by 2026, the market is estimated to grow at 2.2% CAGR during the forecast period. Increase in demand for converting paper in the packaging sector is one of the factors that is expected to boost the growth of the global converting paper market.
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The evolving e-commerce industry is making efficient use of converting paper for delivery packaging due to the quality prospects of the customers and the necessity for the lightweight packaging formats. The rise in penetration of e-Commerce in the retail industry is increasing at a significant rate. The demand for effective packaging solutions is also growing with the growth in the retail industry. Packaging is one of the key factors influencing consumer preference. The manufacturers in the global converting paper market are offering differentiated product portfolio in order to gain maximum market share, due to which they are investing in greater packaging solutions. Moreover, the usage of robust corrugated boxes for shipmentguarantees safe delivery of the items.The usage of converting paper for various applications apart from writing and printing is growing globally. For instance, the sanitary and packaging markets are the emerging markets that are using converting papers on a large scale. The acceptance of converting paper for industrial packaging is also growing due to the low cost and sustainability as compared to plastic, glass, or metal. The usage of converting paper material for manufacturing of intermediate bulk containers, sacks, liners, and absorbents has significantly increased in the past decade due to the high-quality products offered by the key players.
Some of the key manufacturers in the global converting paper are focusing on continuous product launch strategy in order to expand their product portfolio and expand their business geographically. For instance, in November 2017, Stora Enso launched fiber cup, which is a paperboard-based product, used in packaging dairy products and other frozen foods. Furthermore, companies are also investing in converting paper equipment with an objective to offer high-quality paper products. For instance, in September 2017, International Paper Company has invested around US$ 300 Mn for converting its paper machine from uncoated free sheet to high-quality container board. The investment will increase the annual capacity with the flexibility to shift between containerboard products. All these factors are anticipated to drive the global HVAC system market development during the forecast period.
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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.
The prominent players operating in the global 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.The key players in the converting paper market are constantly focusing on research and development activities in order to expand its product portfolio and increase their customer base in developing regions. There is a high degree of competition among the key players operating in the global converting paper market. Moreover, the players are also strategically focused on partnership, acquisition, and product launch in order to compete in the market and gain a leading position in the converting paper market. The changing customers’ requirements aids manufacturers to offer innovative technology that caters best as per need. These factors are anticipated to offer lucrative growth opportunities for prominent players in the converting paper market.
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