The billing paper market is expected to experience strong demand, with a total valuation of US$ 897.1 million in 2023 rising to US$ 1,536.5 million by 2033. FMI also forecasts billing paper sales to increase at a steady 5.9% CAGR between 2023 and 2033.
Increasing adoption of digitalized billing systems, especially across developing economies such as India, China, Indonesia, and others is propelling the demand for billing paper.
Increasing need to keep the business data organized and save operational costs by providing printed bills to customers is driving the market.
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Rising awareness regarding the hazardous effect of carbon paper on human health and the environment is encouraging businesses to adopt sustainable and carbon-less billing paper for invoices and receipts.
Some of the leading billing papers manufacturers are launching environment-friendly products to capitalize on the increasing demand for green papers. For instance, Pixelle Specialty Solutions recently launched carbonless billing papers, which are made using novel NatureSolv™ technology to address surging demand for sustainable billing papers. A slew of such developments and product launches are estimated to create lucrative growth opportunities in the market.
In terms of paper-type, the 2 parts no carbon required (NCR) paper segment is projected to hold the largest revenue share, accounting for nearly 35% of the sales through 2031. Easy transfer of handwritten data from the top sheet to the underneath one is expected to improve the growth in the segment.
“Key players are focusing on providing customized carbonless billing papers to assist companies to promote their businesses. Some are offering self-designed billing papers to businesses, showcasing specific information that will help companies improve their brand identify,” says a FMI analyst.
Key Drivers
- Growing trend of shopping from supermarkets and increasing popularity of e-commerce in China, India, the U.S., and Germany are expected to drive the demand for billing paper.
- Rising demand for two-part billing papers for keeping the track of sale transactions to maintain reliable records and eliminate conflicts & queries regarding the post-transaction is facilitating the sales of 2 parts NCR papers.
Key Restraints
- Increasing number of initiatives undertaken to eliminate the use of paper and decline deforestation activities are hampering the growth in the market.
- Rising trend of electronic invoicing and digital payments, owing to the growing smartphone and internet penetration across the world is hindering the sales of billing paper.
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Competitive Landscape
The top five companies in billing paper market include Koehler Paper Group, Pixelle Specialty Solutions, Mitsubishi HiTec Paper Europe GmbH, Asia Pulp & Paper (APP) Sinar Mas. and Jinyi Paper Co., Ltd.
Some of the key players operating in the market profiled by FMI are:
- Koehler Paper Group
- Pixelle Specialty Solutions
- Mitsubishi HiTec Paper Europe GmbH
- Krpa Holding CZ, A.S.
- Nekoosa Coated Products, LLC
- KDM Enterprises
- Asia Pulp & Paper (APP) Sinar Mas.
- Yulu Paper Industry Co.,Ltd
- Jinyi Paper Co., Ltd.
- VistaCoat
- Double Tree Paper Industry Group Co.,LTD
- Gold Huasheng Paper (Suzhou Industrial Park) CO., Ltd Inc.
- Xiandai Paper Production
- Surya Coats Private Limited
- Shandong Sincere Paper Co., Ltd.
More Valuable Insights on Billing Paper Market
FMI, in its new report, provide an in-depth analysis of the global billing paper market, analyzing forecast statistics for the coming 10-years. The survey reveals growth projections on in billing paper market with detailed segmentation:
By Paper Type:
- 2 Parts NCR Paper
- 3 Parts NCR Paper
- 4 Parts NCR Paper
- 5 Parts NCR Paper
By Basis Weight:
- Up to 40 GSM
- 40-100 GSM
- Above 100 GSM
By Application:
- Institutional
- Educational
- Business
- Households
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
- South Asia
- Oceania
About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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