According to Transparency Market Research’s recent report titled “Converting Paper Market Global Industry Analysis, Size, Share, Growth, Trends, Historic Analysis 2014–2018 and Forecast 2019–2027,” the growth of the paper packaging industry is attributed to boost the demand for converting paper during the forecast period. The global market for converting paper was valued at US$ 375.9 Bn in 2018 and is projected to expand at a CAGR of 1.9%, during the forecast period (2019-2027).
The global converting paper market is segmented on the basis of application, end-use, pulp type, and paper type. In terms of application, the converting paper market is segmented into printing paper, newsprint, writing paper, hygiene paper, packaging, and others. In the packaging segment, converting paper is used for manufacturing carton board, corrugated board, and flexible paper.
Converting Paper Is Repositioning the Paper Industry as “Fiber Industry”
The consumption of converting paper for tasks apart from writing and printing is increasing across the globe. For example, sanitary and packaging markets are becoming the emerging end users for the converting paper market. The adoption of converting paper for industrial packaging is increasing owing to low cost and sustainability as compared to plastic, metal, and glass. The use of converting paper material for manufacturing of intermediate bulk containers, liners, sacks, and absorbents has considerably increased in the past few years owing to the high-quality products offered by packaging leaders such as Sealed Air, Mondi, DS Smith, and others.
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Expansion of E-Commerce Packaging Sector Fueling Demand for Converting Paper
The evolving e-commerce industry is embracing converting paper for shipment packaging owing to the quality expectations of customers and the need for lightweight packaging formats. Penetration of E-Commerce in the retail market is growing at a substantial rate. With this growth, the demand for efficient packaging solutions is also increasing. Packaging is one of the key factors influencing consumer preference. Companies want to stay a step ahead of their competitors to ensure maximum market share, which is why, they are willing to invest in superior packaging solutions.
Digitalization Compelling Converting Paper Manufacturers to Incorporate Innovative Features
The growing adoption of digitalization is expected to reduce the demand for printing and writing paper. Digital media and paperless communication are replacing paper, and threatening the traditional market for newsprint and office paper. The market share of printing and writing paper is shifting to packaging paper owing to the growth of the e-commerce market and consumer preference for converting paper packaging formats.
Global Converting Paper Market: Competitive Landscape
The global converting paper market critically analysed key players during the course of the study. These include Stora Enso Oyj, Georgia-Pacific LLC, Canfor Corporation, International Paper Company, Clearwater Paper Corporation, UPM-Kymmene Oyj, P.H. Glatfelter Co., Domtar Corporation, Mitsubishi Paper Mills Limited, Verso Corporation, BillerudKorsnäs AB, Burgo Group SPA, Twin Rivers Paper Company Inc., American Eagle Paper Mills, Delta Paper Corp., Catalyst Paper Corporation, Asia Pacific Resources International Holdings Ltd., Rolland Enterprises Inc., Alberta Newsprint Company Ltd., and Finch Paper LLC.