The global base paper market is set to grow steadily at a compound annual growth rate (CAGR) of 1.75% during the forecast period from 2022 to 2032. According to the latest report, the market is currently valued at USD 302.66 billion and is expected to reach USD 360 billion by 2032. Key drivers behind this growth include the increasing demand for eco-friendly packaging solutions and the use of opaque laminating base paper for high-quality printing.
In particular, the United States stands out with higher consumption of base paper, primarily attributable to the flourishing ready-to-eat food segment and the demand for confectionery food packaging. This surge in consumption highlights the pivotal role of base paper in meeting the packaging needs of these industries and underscores its importance in the global market.
As the paper and pulp sectors continue to evolve and adapt to changing consumer preferences and industry requirements, the base paper industry is poised for sustained growth and innovation, catering to diverse applications and sectors within the broader paper and packaging industry.
Increased demand for eco-friendly packaging is also projected to contribute to the growth of the base paper industry share. The report sheds light on the factors improving the sales of base paper, and, in turn, the opportunities for market players. However, the base paper market also faces some challenges, which might limit the base paper market share from reaching its potential.
Base Paper Market: Dynamics
The driving factor for base paper market is the increasing demand for ecofriendly and recyclable packaging material. Because of hazardous impact of non-degradable plastic use, many countries are switching for sustainable packaging solution. Base paper is chemical free paper which acts as a fueling factor for increasing the global industry of base paper across the world.
It has zero effect on human health and environment. The growth of base paper market is increasing exponentially because it can be used as décor paper . Depending up on the requirement, the decor paper is used as overlay paper , barrier paper, print paper, absorbent kraft paper . Also, the base paper industry is growing on the backdrop of construction industries as the shuttering paper gives more wet resistance and good tensile strength.
In pharmaceutical industries, the base paper (also called as medical paper or bactite paper) is used for packaging of medical or surgical disposables. As it gives maximum protection against bacterial growth, it is expected that the base paper industry will increase with the expansion of pharmaceutical industries. Lucrative opportunities are witnessed for laminating base paper across the world as it provides high barrier to the product from moisture and air.
Regional Outlook:
The base paper market is growing on the backdrop of paper and pulp industries. It is witness that the top key payers of paper and pulp industries are present in North America and Europe. The consumption of base paper in the U.S. is more because of increasing ready to eat food segment and confectionery food packaging . Mexico is the emerging industry hence significant growth is expected for base paper market. Europe is a mature industry hence sluggish growth is witnessed.
With the development of pharmaceutical industries in APAC region, the demand for base paper is increasing in China and India. However China is the top exporter of base papers. The production of laminated base paper is also increasing in MEA region where as the regional consumption is low. Hence, the key players are exporting base paper to European market.
Key Players:
- Twin Rivers Paper Company
- KRPA Holding CZ, A.S.
- Ahlstrom-Munksjö
- International Paper
- Graphic packaging
- Stora Enso Oyj
- Pudumjee Paper Products
The base paper industry report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various industry factors on market segments and geographies.
Access Full Report: https://www.futuremarketinsights.com/reports/base-paper-market
Market Segmentation:
On the basis of Product Form,
- Rack mount
- Portable
On the basis of Grades,
- Up to 40 GSM
- 40 to 70 GSM
- Above 70 GSM
On the basis of End Use,
- Food industries
- Pharmaceutical
- Construction
- Others