During the projected period from 2022 to 2032, the worldwide duplex paper and board market is estimated to grow at a CAGR of 2.8%. The duplex paper and board industry is predicted to develop rapidly in 2032, with sales increasing by US$ 5,807.1 Million.
The majority of demand for duplex paper and board is due to its widespread use in pharmaceutical and food as well as beverage packaging. As of 2022, duplex paper and board sales are expected to be valued at US$ 4,405.9 Million.
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The global demand for duplex paper and board is projected to increase at a CAGR of 2.8% during the forecast period between 2022 and 2032, reaching a total of US$ 5,807.1 Million in 2032, according to a report from Future Market Insights (FMI). From 2016 to 2021, sales witnessed significant growth, registering a CAGR of 2.1%.
Duplex paper and board are used in the production of folded carton boxes and cardboard layers for a range of end-use applications. Duplex paper and board will see a significant increase in demand in the next years due to its use for packaging applications in pharmaceutical, personal care, food and beverage, and other industries.
Duplex paper and board sales are heavily reliant on their broad use for product packaging in many sectors, resulting in constant rivalry among key competitors to supply cutting-edge packaging solutions for end customers. Furthermore, the great surface quality of duplex board, in addition to its optical properties, will make it a superior solution with good printability and a beautiful appearance.
To boost the use of duplex paper, key firms are focused on innovation and development. Furthermore, duplex board is made from recycled fibres, which decreases the carbon footprint generated by this sector. These factors will lead to an increase in demand for duplex paper and board in the coming years.
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Which Are Some Prominent Drivers Of Duplex Paper And Board Market?
Growing Desire for Biodegradable Packaging to Boost Market Growth
The worldwide packaging business is largely concerned with producing environmentally friendly packaging choices. The global desire for biodegradable packaging has gradually boosted the demand for duplex paper and board in manufacturing industries such as FMCG, retail, pharmaceutical, and many others.
The global prohibition on plastic imposed by nations owing to new rules and legislation has altered demand for duplex paper and board. The pulp and paper industry is intently focused on boosting production capacity while also introducing new technologies along the route. These factors will boost the duplex paper and board industry at the same time.
Opportunities are collapsing in the duplex paper and board sector, and the capacity to provide biodegradable packaging choices has compelled the whole industry to make an unprecedented change. The extraction of fibres from magazines, newspapers, and books and conversion to biodegradable duplex paper and board has skyrocketed product sales.
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This feature will provide a fantastic chance to reduce the use of capital in raw material procurement while also increasing the financial viability of the duplex paper and board industry.
What Are The Challenges Faced By The Duplex Paper And Board Market?
Durability is a Major Obstacle for the Market Growth
The durability of recycled duplex paper and board products will always be a point of contention, as fibre strength reduces with repeated recycling. This can result in product loss and is a market barrier that restricts demand for duplex paper and board.
However, applying binding agents while creating recycled materials greatly improves product strength, which promotes demand and income production for the Duplex Paper and Board industry.
Region-Wise Insights
How will Growth unfold in the North America Duplex Paper and Board Market?
Growing Food Industry Creating Opportunities for Duplex Paper and Board Manufacturers
North American markets are very mature when compared to those in other regions. The United States dominates the North American duplex paper and board industry, where food is likely to remain the leading end-user of folding cartons.
For example, the food industry in the United States is predicted to increase at a CAGR of 2.9% by the end of 2022, according to the Association for Packaging and Processing Technologies. Thus, due to the aforementioned reasons, North America is expected to possess 24% market share in 2022, registering a CAGR of 2.7% for duplex paper and board market in the assessment period 2022-2032.
How is the Duplex Paper and Boarding Market Faring in the Europe?
Growing Demand for Eco-friendly Packaging favouring Market Growth
Substantial market growth is expected in Europe, over the forecast period, owing to high paperboard demand from the packaging and manufacturing industries, as well as stringent government rules and regulations requiring the use of eco-friendly tools for packaging-related activities. Thus, Europe is expected to hold 17% of market share for duplex paper and board market in 2022.
How is the Duplex Paper and Board Market Progressing in Asia Pacific?
Expansion of the E-Commerce and Cosmetics and Personal Care Sectors Fuelling Rapid Adoption
In 2021, Asia Pacific was a significant market for duplex paper and board, driven by growth in the packaged food and cosmetic & personal care packaging industries. As a result, demand for duplex paper and board in Asia Pacific is likely to grow slowly over the next few years.
The Asia Pacific market is expected to grow rapidly. The expansion of the e-commerce and cosmetics and personal care sectors in countries like as India, China, and Japan is expected to drive demand for duplex paper and board in Asia Pacific throughout the projected period.
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