The global duplex paper and board market is expected to experience gradual growth, with a projected Compound Annual Growth Rate (CAGR) of 2.8% throughout the forecast period. As of 2022, the market holds a current valuation of US$ 4,405.9 million. Looking ahead, the market’s value is anticipated to reach a peak of US$ 5,807.1 million by the year 2032. Notably, historical data from 2016 to 2021 reveals a CAGR of 2.1% as reported by Future Market Insights.
Furthermore, the confluence of factors such as urbanization and industrialization trends, coupled with the rapid expansion of the e-commerce industry, is expected to exert a significant influence on the growth trajectory of the duplex paper and board market.
The escalating appetite for biodegradable and environmentally responsible packaging solutions is poised to act as a driving force, propelling the continuous expansion of the market.
While the market exhibits an upward trajectory, certain factors have the potential to hinder its growth in the upcoming years. These factors include the volatility in raw material prices and the existence of substitute materials, which are likely to pose challenges to the expansion of the duplex paper and board market.
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Market Drivers:
- Sustainable Packaging Demand: Growing awareness of environmental issues and the need for sustainable packaging solutions have increased the demand for duplex paper and board, which is recyclable and eco-friendly.
- E-commerce Growth: The expansion of the e-commerce industry has driven the demand for duplex paper and board for packaging and shipping of products.
- Consumer Goods Packaging: Duplex paper and board are commonly used in the packaging of consumer goods, including cosmetics, electronics, and food products, due to their aesthetic appeal and protective properties.
- Printing and Labeling: Duplex paper and board are suitable for high-quality printing and labeling, making them a preferred choice for promotional materials, packaging, and labeling applications.
- Product Innovation: Manufacturers are constantly innovating to develop duplex paper and board with enhanced features, such as moisture resistance and improved printability, to meet specific customer requirements.
- Government Regulations: Regulations promoting sustainable packaging and discouraging the use of non-recyclable materials have bolstered the demand for duplex paper and board.
Manufacturers Gaining High Margins from Natural Materials – Strategic Outlook
A comprehensive market analysis conducted by experts at FMI sheds light on the manufacturer’s prevalent inclination towards producing duplex paper and board from natural materials. This preference is driven by the prospect of attaining more favorable profit margins from such resources compared to other material types. Consequently, this strategic choice is yielding higher revenues within the natural materials segment.
Among the various materials utilized in the duplex paper and board market, the natural materials segment enjoys strong favor among manufacturers. The cost-effectiveness inherent in natural materials during the processing phase provides a distinct advantage over recycled materials, leading key industry players to gravitate towards this preference.
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Key Market Players:
- Kimberly-Clark Corp.
- Stora Enso Oyj
- International Paper Company
- The West Coast Paper Mills Ltd. (SKG)
- Mangum Ventures Ltd.
- El-Salam Paper Mills
- Sappi Ltd
- Emami Paper Mills Ltd.
- Millennium Overseas
- Hangzhou Gerson Paper Co. Ltd.
- JK Paper Ltd.
- Monit Paper and Chemicals Pvt. Ltd.
- Nippon Paper Industries
- Qiongdao Sanshi Paper Co. Ltd.
Market Segmentation
Duplex Paper and Board Market by Type:
- Duplex Paper
- High-weight coated
- Light-weight coated
- Board
- White Board
- Kraft Board
Duplex Paper and Board Market by Thickness:
- Up to 200 gsm
- 201-300 gsm
- 301-400 gsm
- Above 400 gsm
Duplex Paper and Board Market by End Use Industry:
- Healthcare & Pharmaceuticals
- Chemicals
- Food & Beverages
- Homecare
- Personal care & Cosmetics
- Others
Duplex Paper and Board Market by Region:
- North America Duplex Paper and Board Market
- Latin America Duplex Paper and Board Market
- Europe Duplex Paper and Board Market
- Asia Pacific Duplex Paper and Board Market
- Middle East & Africa Duplex Paper and Board Market
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