Kraft Paper Market: Global Industry Size & Share to Expand USD 18.10 Billion by 2026, Report by Facts & Factors
Oct 22, 2020
Global Kraft Paper market in 2019 was approximately exceeding USD 15.5 Billion. The market is expected to grow at a CAGR of around 3.5% and is anticipated to reach around USD 18.10 Billion by 2026.
Pune, India - October 21, 2020 /MarketersMedia/ —
According to the Facts and Factors, Research Report, the global Kraft Paper market in 2019 was approximately exceeding USD 15.5 Billion. The market is expected to grow at a CAGR of around 3.5% and is anticipated to reach around USD 18.10 Billion by 2026.
Kraft papers are paperboards or papers used for packaging and other applications. The high elasticity, tear resistance, and porosity of kraft papers are the primary features propelling its demand owing to the high demand for durable and long-lasting packaging solutions. Moreover, its eco-friendly nature, recyclability, and increasing adoption of bio-degradable packaging by various industries is providing consummate opportunities for the kraft paper packaging manufacturers to develop and diversify their portfolio.
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Market Drivers:
The increasing demand for packaging solutions to keep the finished products undamaged is likely to increase the application of kraft papers in various end-use industries including building & construction, food & beverages, cosmetics & personal care automotive, packaging and paper, and consumer durables, which, in turn, is a primary factor expected to fuel the growth of the global Kraft Paper market share. Apart from this, the rapid urbanization across and the high requirement for recyclability features of kraft papers to keep the environment safe are valued to contribute to the development of the Kraft Paper market during the forecast period. Furthermore, the growing awareness about the ill-effects of packaging solutions, including plastic and other such non-biodegradable products, on the environment has increased the preference for paper-based packaging.
Market Players:
Some of the key market players of the global Kraft Paper market include Glatfelter, Mondi, Klabin, Segezha group, Daio Paper construction, Stora Enso, Nordic Paper, Billerudkorsnas, and Gascogne Papier.
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Market Segment Dominance:
Corrugated boxes category is estimated to dominate the Kraft Paper market during the forecast period
The corrugated boxes category is projected to lead the Kraft Paper market during the forecast timeframe. The dominance is attributed to the high demand for the protection of shipped products. Additionally, the reusable and recyclable feature of corrugated boxes helps lower packaging waste, thereby driving the market growth. Thus, it is being widely used in the cosmetics & personal care, food & beverages, building & construction, clothing, logistics, freight forwarding, and pharmaceuticals.
Building & construction category is projected to exhibit the largest growth rate in the global Kraft Paper market during the forecast period.
The building & construction category is expected to majorly contribute to the highest growth of the kraft paper market owing to the benefits of kraft paper packaging solutions such as resistance to temperature, chemicals, and water. In addition to this, it's easy molding into different shapes and lightweight will further help increase its application in the building & construction sector.
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The increasing demand for packaging solutions to keep the finished products undamaged is likely to increase the application of kraft papers in various end-use industries including building & construction, food & beverages, cosmetics & personal care automotive, packaging and paper, and consumer durables, which, in turn, is a primary factor expected to fuel the growth of the global Kraft Paper market. Apart from this, the rapid urbanization across and the high requirement for recyclability features of kraft papers to keep the environment safe are valued to contribute to the development of the Kraft Paper market during the forecast period. Furthermore, the growing awareness about the ill-effects of packaging solutions, including plastic and other such non-biodegradable products, on the environment has increased the preference for paper-based packaging.
Regional Dominance:
Asia Pacific kraft paper market is estimated to exhibit the fastest growth
The Asia Pacific is projected to experience the highest growth rate in the global Kraft Paper market size owing to the increasing demand for kraft papers in the emerging regions such as China and India. Additionally, its increasing use in the production of the packaging of products, cost-effective manufacturing processes, and security of the packaged items are a few of the factors anticipated to boost the growth of the global Kraft Paper market during the forecast period. The rising use of kraft papers in the consumer electronics, food & beverages, healthcare, and building and construction industries is projected to fuel the expansion of the Kraft Paper market in this region.
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This report segments the global Kraft Paper market as follows:
Global Kraft Paper Market: Grade Segmentation Analysis
Unbleached
Bleached
Wrapping & Packaging
Sack Kraft Paper
Others
Global Kraft Paper Market: Packaging form Segmentation Analysis
Corrugated Boxes
Grocery Bags
Industrial Bags
Wraps
Pouches
Envelopes
Global Kraft Paper Market: Application Segmentation Analysis
Foods & Beverage
Pharmaceuticals
Building and Construction
Cosmetics & Personal Care
Others
About Us:
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
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