NEWARK, Del, Sep 02, 2022 (GLOBE NEWSWIRE) — The global tracing paper market is expected to be valued at US$459.7 million in 2022 with a rather stagnant CAGR of 2.4% over the estimated period of 2022 to 2032. the market size is expected to reach US$583.9 million by the end of 2032. The global market surpassed a valuation of US$449.2 million in 2021.
According to IMF historical projections, the tracing paper market was valued at US$449.2 million in 2021, at a CAGR of 1.0% over the entire historical period. The increasing use of this type of paper to plot an image or graph is applicable across a wide range of industries, which is likely to drive growth. The top 3 countries in the tracing paper market are expected to hold 30-40% of the global share by 2022.
Regarding the thickness, the 81-100 GSM segment is expected to own the major share of the global market due to its lightweight and high quality properties. According to IMF projections, this segment should hold 39% of the market share by the end of 2022.
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Key points to remember
- Growing demand for recyclable tracing solutions in numerous applications such as drawing and painting among several others is expected to fuel the sales in the market. It is therefore estimated that the market will grow at a rate of 1.3x over the projection period.
- Rising popularity of coding in the field of technical drawing is another crucial factor in anticipating an increase in the global tracing paper market. Transparent papers are also needed in construction drawings for creating accurate and complete designs. Construction workers can easily find the edges on the images and trace the image, which would save time and money.
- Previously, these papers were made for architectural and engineering design applications, but now they are also used in various industries. The smooth surface of the tracing paper allows the image to be traced in less time and thus would gain popularity among end users.
- These tracing papers are non-toxic in nature, which helps reduce the carbon footprint globally. The growing need for moisture resistant and recyclable heat tracing solutions is another factor responsible for strengthening demand over the review period.
- Rising demand for interior design and expanding construction and architectural industry is expected to increase sales of plotting solutions such as carbonless paper across the world. Also, the growing interest of millennials and children in arts and crafts is expected to accelerate the growth of the market.
- Tracing paper is preferred over conventional paper because it is generally smoother and has a strong tear resistance property than traditional paper. It also allows for transparency which helps in producing an easy draft. Various industries use tracing paper, such as construction and architectural drafting, digital printing and photography, and lamination and embossing films.
- The main material used in the manufacture of tracing paper that allows its recyclability is cellulose fiber. The efficient recyclability of this type of paper adds to its sustainable footprint. Growing demand for recyclable paper for plotting would drive the market in the coming years.
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The major manufacturers in the tracing paper market are focusing on expanding their production capacities and resources to meet the growing demand across the globe. In addition, prominent players in the market are also focusing on mergers and acquisitions to strengthen their presence, expand their product portfolios and increase their resources.
More tracing paper market insights
Germany is expected to dominate the market growth in the European region, accounting for a total of 23% of market revenue share over the assessment period. The expansion of the construction industry in Germany should increase sales.
The Indian tracing paper market is expected to create a lucrative growth opportunity with a total valuation of US$16.7 million during the forecast period. The rapid expansion of the textile industry in the country is expected to support growth.
Tracing Paper Market Outlook By Category
- Up to 60 GSM
- 61-80 GSM
- 81-100 GSM
- Above 100 GSM
- Cellulose fiber
- cotton fiber
- Recycled fiber
- Photographic and cinema lighting
- Others (greeting cards, envelope, etc.)
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa (MEA)
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market context
The table of contents continued…!
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