SAN FRANCISCO, June 21, 2022 /PRNewswire/ — The Global kraft paper market the size should reach $71.28 billion by 2030, according to a new report from Grand View Research, Inc. It is expected to register a CAGR of 6.9% from 2022 to 2030. The growth in the packaging industry owing to the booming e-commerce sector across the globe is the major driver for the growth of the market over the forecast period.
Key industry insights and findings from the report:
- Kraft coating with GSM 80 to 160 led the market and accounted for 59% of revenue share in 2021 due to their various applications in food and beverage industries, consumer goods, medical tools, equipment and the pharmaceutical industries.
- The GSM > 160 product segment was one of the main contributors to the market, accounting for 35.5% of the market share. It is expected to grow at a significant CAGR due to its increasing use in packaging industrial machinery, auto parts, glassware and others.
- Asia Pacific is estimated to experience the fastest CAGR of 7.2%, due to the presence of a large number of producers and end-use industries such as food and beverage sector, construction and manufacturing.
- Market demand has been hampered due to the global outbreak of the COVID-19 pandemic in 2020. Governments of major economies like the United States, India, South KoreaGreat Britain, Germanyand Italyimposed restrictions on several industries to prevent transmission of the virus.
- To meet customer demand and meet the challenges of the growing industry, linerboard manufacturers are specifically investing in research and development to find the solutions that would have a significant impact on the e-commerce sector.
Get more industry insights from the comprehensive market research report,”Kraft Coatings Market Size, Share and Trends Analysis Report by Product (GSM 160), by region (North America, Europe, Asia Pacific, Latin America, Middle East), and sector forecasts, 2022 – 2030“, published by Grand View Research.
Kraft Coatings Market Growth and Trends
Kraft liner is mainly used for packaging as an alternative to plastic-based packaging. It is a two-ply product in which the top ply is made from unbleached softwood fibers and the base ply is made from a mix of unbleached and recycled fibers. Kraft liner has characteristics such as high strength and good printability.
An increase in the demand for packaging in the e-commerce industry across the world has led to an increase in the use of kraft liners. Additionally, the increase in industrial operations across the globe is expected to drive the growth of industrial logistics, thereby driving the demand for kraft coatings.
Multinational companies integrate to reduce the overall cost of the process, which makes it difficult for smaller players to stay in the market due to competitive pricing. Distributors and retailers are the other important entities in the value chain as they have a major influence on the pricing model of the whole process.
Kraft Coatings Market Segmentation
Grand View Research has segmented the global kraft coatings market based on product and region:
Kraft Coatings Market – Product Outlook (Volume, Kilotons; Revenue USD Billion, 2017 – 2030)
- GSM 80 to 160
- GSM > 160
Kraft Coatings Market – Regional Outlook (Volume, Kilotons, Revenue USD Billion, 2017-2030)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
List of Kraft Coatings Market Key Players
- Kappa Smurf
- Europac Group
- Roxcel Handelsges.mbH
- Astron Paper and Board Mill
- Eagle Paper International, Inc.
- Thai Paper Mill Company Limited
- International paper
- Hazel Mercantile Limited
- Mondi Group
- Nine Dragons Paper (Holdings) Limited
Check out other related studies published by Grand View Research:
- Lignin market – The global lignin market size is expected to reach $1.12 billion by 2027, according to a new report from Grand View Research Inc. It is expected to grow at a revenue-based CAGR of 2.0% over the forecast period. Wide acceptance of lignin as a natural food additive is expected to drive demand. Rising applications in the construction and industrial sectors are also expected to support growth.
- Special papers market – The global specialty papers market size is expected to reach $36.4 billion by 2025, according to a new report from Grand View Research, Inc., expanding at a CAGR of 4.1% over the forecast period. The growth of the market is attributed to the increasing need for packaging and labeling of delivery products. The rise of e-commerce globally is a major factor that is increasing online shopping and delivery of goods, impacting the demand for specialty paper.
- Spray Drying Equipment Market – The global spray drying equipment market size is expected to reach $7.19 billion by 2025, registering a CAGR of 6.8%, according to a new study by Grand View Research, Inc. Spray drying envisions transforming a liquid, suspension or semi-solid food into a spray-dried powder form. using hot gas. It is a widely preferred method for drying foods, pharmaceuticals, and other temperature-sensitive items, such as dairy products. Additionally, the growing need to increase the shelf life of processed food and pharmaceutical products is opening up new growth opportunities in the food and pharmaceutical industries. Thus, the demand from the dairy processing industry for the production of milk powder and stabilization of milk constituents and from the pharmaceutical industry for the production of antibiotics is expected to drive the market.
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About Grand View Research
Grand View Research, a US-based market research and consulting firm, provides syndicated and custom research reports and consulting services. Checked in California and whose head office is at San Francisco, the company has more than 425 analysts and consultants, adding more than 1,200 market research reports to its extensive database each year. These reports offer in-depth analysis of 46 industries in 25 major countries around the world. Using an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and assess upcoming opportunities.
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