The saturating kraft paper market has experienced robust growth, increasing from $1.36 billion in 2023 to $1.45 billion in 2024, at a CAGR of 6.7%. This growth is attributed to rising demand from the packaging industry, a shift toward sustainable and recyclable packaging solutions, a focus on circular economy principles, growing paper recycling initiatives, economic fluctuations, and regulatory changes promoting eco-friendly materials. The market is projected to reach $1.89 billion by 2028, growing at a CAGR of 6.9%. Future growth is driven by increased e-commerce adoption, demand for biodegradable and compostable packaging, innovations in barrier coatings, and a shift toward lighter-weight packaging. Key trends include expanded production capacities by manufacturers, integration of digital technologies for supply chain management, development of premium-grade kraft papers for luxury packaging, smart packaging solutions, and advancements in paper manufacturing processes.
Major Driver In The Saturating Kraft Paper Market
The growing demand in the construction industry is expected to drive the saturating kraft paper market. The construction sector's growth, driven by urbanization, infrastructure development, and increased investments, fuels demand for packaging materials like saturated kraft paper. This paper is used for packaging and protecting building supplies due to its strength and moisture resistance. The Office for National Statistics reported a significant 12.7% annual growth in the construction sector in 2021 compared to the previous year. Monthly construction output in December 2021 saw a 2.0% increase, driven by a 3.5% rise in new construction projects. This growing demand in the construction industry is propelling the saturating kraft paper market.
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Saturating Kraft Paper Market Competitive Landscape
WestRock Company, International Paper Company, Stora Enso Oyj, Mondi Group, Sappi Limited, Ahlstrom-Munksjo Oyj, Holmen AB, Metsä Board Corporation, Domtar Corporation, Kruger Inc., Nordic Paper AS, Kotkamills, Pudumjee Paper Products Ltd., Holland Manufacturing Company, Gordon Paper Company Inc., Fleenor Paper Company, Plastech Group Limited, Potsdam Specialty Paper Inc., Zerust, Fortune Paper Mills LLP, Onyx Specialty Papers Inc., Ranheim Paper & Board AS, Oji Holdings Corporation, Segezha Group LLC, Venkraft Paper Mills Pvt. Ltd
Key Saturating Kraft Paper Market Trend
The saturating kraft paper market is seeing the development of advanced products like OBA-free kraftliner to meet packaging industry demands. OBA-free kraftliner is produced without optical brightening agents, enhancing its environmental credentials. In June 2022, Stora Enso Oyj, a Finnish manufacturer, launched AvantForte WhiteTop kraftliner, made entirely from virgin fibers. This kraftliner delivers exceptional strength and purity while fulfilling brand owners' requirements for high-performance, plastic-free packaging, contributing to sustainable packaging solutions.
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Saturating Kraft Paper Market Segmentation
The saturating kraft paper market covered in this report is segmented –
1) By Paper Grade: Bleached, Unbleached
2) By Weight: Less Than 50 GSM, 50-100 GSM, 101-200 GSM, More Than 200 GSM
3) By Application: Flooring, Shelving, Partition, Countertops, Panels, Other Applications
4) By End-User: Industrial, Residential
By Geography:The regions covered in the saturating kraft paper market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the saturating kraft paper market in 2023. Europe is expected to be the fastest-growing region in the forecast period.
The Saturating Kraft Paper Global Market Report 2024 furnishes information about the global saturating kraft paper market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
