Paper Pigments Market revenue to reach USD 30 Billion by 2033, says Research Nester
Key paper pigment market players include KaMin LLC/ CADAM SA, Kemira Oyj, The Chemours Company LLC, Imerys S.A., BASF, Minerals Technologies Inc., Ashapura Group, J.M. HUBER Group, Thiele Kaolin Company, and Omya AG.
New York, Aug. 03, 2023 (GLOBE NEWSWIRE) — The global paper pigments market size is projected to expand at ~5% CAGR between 2023 and 2033. The market is expected to garner a revenue of USD 30 billion by the end of 2033, up from a revenue of ~USD 17 billion in the year 2022.The market growth is due to the increased consumption of paper and paper products. It was recently estimated that paper consumption in 2020 totaled 400 million tons. This number is expected to increase further over the next decade and reach a consumption value of around 470 million tons by 2031. The increasing use of paper in various industries, including packaging.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-4426
Government restrictions on the use of plastic increased the use of paper to package goods and products. Paper is an ecological product and can be disposed of without any problems as it does not harm the environment even after burning. Recent industrialization has led to an increase in paper consumption in various industries. Due to its advantages such as color appearance improvement and insolubility. Therefore, it is estimated that the large-scale production of paper for various purposes will increase the paper pigments market over the forecast period. In 2022, the world is expected to produce about 300 million tons of paper annually. It is also estimated that the growing number of educational institutions, land transactions and medical sectors will drive the growth of the market. The market growth is also attributed to the growing financial sector during the forecast period.
Paper Pigments Market: Key Takeaways
- Market in Asia Pacific to propel highest growth
- The uncoated paper segment to garner the highest growth
- Market in North America to grow at a highest rate
Increasing Production of Packaging Paper across the Globe to Boost Market Growth
The introduction of paper packaging in various industries such as food & beverage, bakery, confectionery, personal care, and cosmetics is expected to increase the demand for paper pigments. The global production value of packaging paper and board was estimated at around 257,000 tons in 2018, up from 236,000 tons in 2016.
Most recently, the global consumption of printing and writing paper was estimated at around 90 million tons in 2021, with spending in the global Chemical industry expected to be USD 239 billion by 2023. This is a significant increase from USD 220 billion in 2020. The World Bank announced that research and development sector spending in 2020 amounted to 2.63% of total global GDP. This was an increase from 2.14% of the total GDP in 2016. It is estimated that this is due to the high investment in research and development activities, the increase in spending in the chemical industry due to the increasing use of dyes, and recent demand for paper because emerging printing and writing institutions are contributing to the growth of the market.
Paper Pigments Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Expanding paper consumption to Drive the Market Growth in Asia Pacific Region
The paper pigments market in Asia Pacific region is estimated to garner the largest revenue by the end of 2035. The growth of the market is mainly due to the high paper consumption in the region. China is the largest producing country, producing 120 million tons of paper in 2020. Also, the high consumption of paper units in the region is another factor driving the market growth. According to 2018 estimates, around 460 billion paper and cardboard packaging units are used in the Asia-Pacific region. It is estimated that the increasing number of educational institutions and growing industries in the region will fuel the growth of the market.
The growing number of hospitals and healthcare centers are also expected to fuel the growth of the market in the coming years. In addition, the growing paper packaging industry in the region is also expected to boost market growth.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-4426
Growing Demand for sustainable and eco-friendly products to Propel Growth in the North America Region
The North American paper pigments market is estimated to garner the highest CAGR by the end of 2035. The demand for sustainable paper products is rising, driven by increasing environmental concerns and regulations. In North America, the demand for eco-friendly paper pigments has been fueled by consumer preferences for recycled and recyclable paper products. The demand for recycled paper products in North America has also been on the rise. In 2019, the recycled paper packaging market in the United States was valued at approximately USD 3.4 billion. The expansion of the e-commerce sector has led to increased demand for packaging materials, including paper-based packaging. North America is witnessing significant growth in the e-commerce industry, contributing to the demand for paper pigments used in packaging applications. Advancements in papermaking technologies have led to the development of high-quality papers with improved printability, brightness, and color reproduction. These advancements have increased the demand for specialized paper pigments that offer enhanced optical properties.
Paper Pigments, Segmentation by Application
- Coated Paper
- Uncoated Paper
Amongst these two segments, the uncoated paper segment in paper pigments market is anticipated to hold the largest share over the forecast period. The expansion of the e-commerce sector has led to an increased demand for packaging materials, including uncoated papers for corrugated boxes, cartons, and other packaging applications. The rise of e-commerce in the United States resulted in a 17% increase in corrugated box shipments in 2021. The advancements in digital printing technologies have facilitated cost-effective short-run and on-demand printing, driving the demand for uncoated papers in the commercial printing sector. The uncoated paper segment finds significant usage in educational materials, notebooks, office stationery, and other writing applications. Governments and regulatory bodies have implemented regulations promoting sustainable packaging practices, which include the use of recyclable and biodegradable materials. These regulations have driven the adoption of uncoated papers in various packaging applications.
The demand for sustainable paper products has been rising, driven by environmental concerns and the shift towards eco-friendly materials. The uncoated paper segment is favored for its recyclability and biodegradability, meeting the growing demand for sustainable packaging and printing materials.
Purchase Copy of this Report @ https://www.researchnester.com/purchage/purchase_product.php?token=4426
Paper Pigments, Segmentation by End User Industry
- Print Media
- Personal Care
Amongst these segments, the packaging segment in paper pigments market is anticipated to hold a significant share over the forecast period. Stringent regulations regarding product safety, labeling, and sustainability have influenced packaging practices. Regulations related to food safety, such as the Food Safety Modernization Act (FSMA) in the United States, have contributed to the adoption of advanced packaging materials and technologies. Advancements in packaging technologies, such as smart packaging and active packaging, have fueled market growth. The food and beverage sector is a major contributor to the packaging industry, driving the demand for packaging materials.
Consumer preferences for environmentally friendly products have led to an increased demand for sustainable packaging solutions. The e-commerce market is experiencing significant growth, driving the demand for packaging materials. E-commerce sales reached USD 4.28 trillion in the year 2020.
Paper Pigments, Segmentation by Type
- Calcium Carbonate
- Titanium Dioxide
Few of the well-known market leaders in the paper pigments market that are profiled by Research Nester are KaMin LLC/ CADAM SA, Kemira Oyj, The Chemours Company LLC, Imerys S.A., BASF, Minerals Technologies Inc., Ashapura Group, J.M. HUBER Group, Thiele Kaolin Company, Omya AG, and other key market players.
Recent Development in the Market
- Kemira Oyj and Veolia Wasser Germany have entered into a joint cooperation. This coalition is expected to conduct a comprehensive technology assessment of the new ViviMag phosphorus recovery technology.
- Omya AG has entered into an R&D partnership with IFG. This collaboration will study the incorporation of calcium carbonate into the fibres.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
CONTACT: AJ Daniel Corporate Sales, USA Research Nester Email: [email protected] USA Phone: +1 646 586 9123 Europe Phone: +44 203 608 5919
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.