Paper, Plastics, Rubber, Wood And Textile Market Definition And Segments
Paper is a thin, flexible material that is typically manufactured in sheets from rags, wood, and plastic is a collection of materials, either man-made or natural, that can be molded while still soft and then hardened to keep the desired shape. Rubber is a material that can be made stretchy by coagulating the milky juice of a variety of tropical plants. Wood refers to the majority of the stems, branches, and roots of trees and shrubs, which are made of a hard fibrous substance called xylem that lies beneath the bark, and textile is a colloquial term for any fabric or product made by knitting, felting, or weaving.
The main types of paper, plastics, rubber, wood and textile are apparel and leather products, furniture, general manufactured goods, paper products, plastics and rubber products, printing and related support activities, textile and wood products. Leather and allied product manufacturers turn hides into leather by tanning or curing them and then constructing them into finished products, as well as producing similar goods from other materials, such as leather alternatives like rubber, polymers, or textiles (excluding clothes). The different natures include organic, conventional and is distributed through various channels such as supermarkets or hypermarkets, convenience stores, e-commerce, others.
The paper, plastics, rubber, wood and textile market covered in this report is segmented –
1) By Type: Apparel And Leather Products, Furniture, General Manufactured Goods, Paper Products, Plastics And Rubber Products, Printing And Related Support Activities, Textile, Wood Products
2) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels
3) By Nature: Organic, Conventional
Subsegments Covered: Leather And Allied Products, Apparel, Institutional And Office Furniture, Household Furniture And Kitchen Cabinet, Mattresses, Blinds And Shades, Jewelry And Silverware, Sporting And Athletic Goods, Doll, Toy, And Game, Office Supplies (except Paper), Sign, All Other Miscellaneous Manufactured Goods, Converted Paper Products, Unfinished Paper, Pulp Mills, Rubber Products, Plastic Products, Printing, Support Activities For Printing, Other Textile Product Mills, Fabrics, Yarn, Fiber And Thread, Home Furnishings And Floor Coverings, Textile and Fabric Finishing and Fabric Coating Mills, Finished Wood Products, Wood Processing, Manufactured Wood Materials
The paper, plastics, rubber, wood and textile market size has grown strongly in recent years. It will grow from $7,137.52 billion in 2023 to $7,661.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to economic conditions, raw material prices, consumer preferences, global trade.
The paper, plastics, rubber, wood and textile market size is expected to see strong growth in the next few years. It will grow to $10,003.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to sustainability and esg factors, demographic changes, consumer trends, circular economy initiatives, fast fashion and sustainable fashion. Major trends in the forecast period include eco-friendly materials, digitalization and industry 4.0, smart and functional materials, personalization and customization.
Rising Consumer Goods Demand Drives Growth In Paper, Plastics, Rubber, Wood, And Textile Markets
Escalated demand for consumer goods is expected to propel the growth of the paper, plastics, rubber, wood, and textile markets going forward. Consumer goods refer to products that are designed and produced for the direct use and consumption of individuals or households. Paper, plastics, rubber, wood, and textiles serve as key components in various consumer goods, including packaging, electronics, furniture, clothing, and more, contributing to the diverse range of products that enhance daily life. For instance, in May 2023, According to the National Bureau of Statistics (NBS), a Nigeria-based official statistical agency, retail sales of China’s consumer goods went up by 18.4 percent year-on-year (YoY) in April 2023. The total sales reached a staggering 14.98 trillion yuan (around $2.16 trillion) in the January–April period of 2023. Therefore, escalated demand for consumer goods will drive the paper, plastics, rubber, wood, and textile market going forward.
Technological Advancements Fuel Market Growth
Technology is expected to be a continued driver of market growth during this period. Industries that involve technology, such as this one, benefited from this trend during this period. For example, technologies such as Green Tires where 20-30% of a vehicle's fuel consumption is related to tire performance, took off during this period. Green Tires offer wet grip, durability and low rolling resistance, reducing fuel consumption by 5-7%. Thus, technological advances which enabled improved performance, reduced fuel consumption contributed to the market growth.
Major companies operating in the paper, plastics, rubber, wood and textile market include Nike Inc., Christian Dior SE, Michelin Group, Adidas AG, Bridgestone Corporation, International Paper Company, Kimberly Clark Corporation, Procter & Gamble Co., WestRock Company, The Goodyear Tire & Rubber Company, Pirelli & C. SPA, ExxonMobil Product Solutions, The Yokohama Rubber Co. Ltd., Continental AG, Hankook Tire & Technology Co. Ltd., Sumitomo Rubber Industries Ltd., Apollo Tyres Limited, Kumho Tire Co. Inc., Nexen Tire Corporation, Toyo Tire Corporation, Yokohama Rubber Co. Ltd., Georgia-Pacific LLC, Weyerhaeuser Company, Avery Dennison Corporation, Berry Global Group Inc., Bemis Company Inc., Sealed Air Corporation, Sonoco Products Company, Graphic Packaging International Inc., Packaging Corporation of America.
Economic Impact Of COVID-19 On Paper, Plastics, Rubber, Wood, And Textile Manufacturing Market And Expected Recovery
The outbreak of Corona virus disease (COVID-19) has acted as a massive restraint on the paper, plastics, rubber, wood and textile manufacturing market in 2022 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of 'lock down' and the outbreak had a negative impact on businesses throughout 2021 and into 2021. However, it is expected that the paper, plastics, rubber, wood and textile manufacturing market will recover from the shock across the forecast period as it is a 'black swan' event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Innovative Hamaheat Super 80 Conveyor Belt Drive Profitability In Paper, Plastics, Rubber, Wood, And Textile Industries
Major companies operating in the paper, plastics, rubber, wood, and textile markets are innovating new products, such as Hamaheat Super 80, to increase their profitability in the market. Hamaheat Super 80 is a high-temperature, heat-resistant conveyor belt from the Hamaheat series. For instance, in March 2023, Yokohama Rubber Co., Ltd., a Japan-based rubber manufacturer, launched the Hamaheat Super 80. The Hamaheat Super 80 is the most recent addition to the company's range of conveyor belts, which have earned the confidence of users across various industries. This conveyor belt is designed for conveying materials at elevated temperatures, with a permissible belt surface temperature of up to 180 °C (350 °F).
Automation Revolutionizes Plastic Product Manufacturing
Manufacturers in the plastic products industry are investing in automation technologies to reduce production costs, improve productivity, and enhance product quality. The use of sensors and wireless technology aids in gathering valuable data that is used to improve efficiencies and reduce errors. This is resulting in streamlined manufacturing processes, better product quality, and lower costs. According to ABB, an industrial robot manufacturer, some of their customers reported an increase of 15–30% in productivity after installing robotic automation systems. Around 180,000 machines were employed in the plastic manufacturing industry in 2021, an increase of 67,000 machines over the course of 4 years. Major companies providing industrial robotics include FANUC Corporation, Yaskawa Electric Corporation, ABB Group, KUKA AG, and Kawasaki Heavy Industries, Ltd.
Asia-Pacific was the largest region in the paper, plastics, rubber, wood and textile market in 2023. Western Europe was the second largest region in the paper, plastics, rubber, wood and textile market. The regions covered in the paper, plastics, rubber, wood and textile market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the paper, plastics, rubber, wood and textile market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The paper, plastic, rubber, wood, and textile market consists of sales of clothes, groceries, and wood furniture. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The paper, plastics, rubber, wood and textile market research report is one of a series of new reports from The Business Research Company that provides paper, plastics, rubber, wood and textile market statistics, including paper, plastics, rubber, wood and textile industry global market size, regional shares, competitors with a paper, plastics, rubber, wood and textile market share, detailed paper, plastics, rubber, wood and textile market segments, market trends and opportunities, and any further data you may need to thrive in the paper, plastics, rubber, wood and textile industry. This paper, plastics, rubber, wood and textile market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.