Research Nester released a report titled “Kraft Paper Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global kraft paper market in terms of market segmentation by product type, application, end user and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global kraft paper market is predicted to register a remarkable growth rate over the forecast period, i.e., 2018-2027. Factors such as growing demand for kraft papers in various sectors such as food and beverages, construction industries and others is anticipated to drive the growth of the market throughout the world.
The kraft paper market is segmented by product type, application, end user and by region. Chipboard that falls under the product type segment is predicted to record the highest growth. Chipboard segment is anticipated to record a CAGR of 4.35% in the European market. On the other hand, the market in Asia Pacific region is set to register a CAGR of 5.13% over the forecast period. Moreover, chipboard is highly preferred in food sector, where it involves packaging of food items as well as from others sectors that involve the need for strong cartons that can be folded easily.
Based on region, the global kraft paper market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in Asia Pacific is predicted to register a CAGR of 4.02% over the forecast period. This is on account of increase in the requirements to adopt packaging that is of high quality for FMCG products, in addition to the rise of the manufacturing sector in the region. On the other hand, the market in Europe is anticipated to record a CAGR of 3.54% over the forecast period.
This is owing to the fact that key market players are present and operating in the region and the growing activities in e-commerce taking place in the region. Apart from that, there is a significant demand for light-weight packaged products and packaging material that is sustainable and environment-friendly in the region, which are all predicted to drive the growth of the market over the forecast period.
Growing Demand for Kraft Papers in Electrical, Construction and Food and Beverage Sectors
The demand for kraft papers especially in the power industry has been growing, as the requirements for usage of kraft papers are multiple in the industry. The requirement of using kraft papers for insulation of high voltage apparatus, in addition to their use for insulation of transformers, capacitors and cables are anticipated to drive the growth of the market over the forecast period. Moreover, the substantial use of kraft papers in insulation of HV oil filled transformers, including capacitors and cables are anticipated to drive the growth of the market over the forecast period.
However, some of the factors such as higher use of plastic packaging by the majority of population globally who are finding it comfortable to handle and use, including the low costs involved in packaging using plastic as compared to kraft paper packaging are acting as major restraints to the growth of the market over the forecast period. The growth in usage of plastic bags for industrial use regularly across various sectors including construction, horticulture and others and the growth in demand for food and beverages including grocery as well as consumer items is helping drive the high demand for plastics in the market, thereby affecting the growth of the kraft paper market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global kraft paper market which includes company profiling of Natron-Hayat, Nordic Paper, Stora Enso, Segezha Group, Mondi, Smurfit Kappa and Daio Paper Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global kraft paper market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.