- Packaging and Decoration Applications of Stone Papers will Grow Stronger, Accounting for Over 50% of the Sales in 2021: Fact.MR Survey
- The latest Fact MR Analysis offers in-depth stone paper market survey. The report is intended to identify hidden prospects across key segments in terms of application. It also evaluates competitive trends influences growth strategies adopted by market players.
NEW YORK, July 28, 2021 /PRNewswire/ --As per a survey conducted by Fact.MR, the global sales of stone paper totaled US$ 718 million in 2020, growing at a CAGR of 4.1% between 2016 and 2020. Favored by the increasing adoption of stone paper due to its low-cost and water-resistant feature, the market for is estimated to reach US$ 1.3 billion by 2031, surging at a CAGR of 6% over the forecast period 2021 to 2031.
Owing to its characteristics such as high strength, durability, and water resistance, the demand for stone paper is increasing. Application for packaging in fast-moving consumer goods (FMCG) and food & beverages will particularly soar in the coming years.
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However, the unprecedented outbreak of novel coronavirus had severely impacted the market. The epidemic has resulted in declining sales of stone paper as operations suspended in paper and packaging industry amid lockdown.
Nevertheless, growth will continue in response to the growing concerns regarding exploitation of natural sources of timber and subsequent inclination for eco-friendly alternatives for conventional papers.
Fact MR has projected, the packaging & decoration industry to remain dominant in the global stone paper market. On account of the changing consumer preference for paper-based packaging, the segment is projected to account for more than 50% of the revenue share in 2021.
"Stone paper manufacturing companies are emphasizing on expanding their footprint by producing raw material required for manufacturing heavy-duty bags, stand-up pouches, side gussets, and containers. Their emphasis on capacity expansion will create opportunities for the market's growth in the coming years," says the Fact.MR analyst.
Key Takeaways from Stone PaperMarket Analysis
Asia Pacific is expected to dominate the global market, owing to the presence of a large number of key manufacturers and suppliers in the region.
The demand in the U.S. is likely to grow at a brisk pace, favored by rising technological advancement in the domain of products manufacturing in the country.
Driven by the increase in demand from the packaging industry, the market in Germany is anticipated to grow by 1.6X by 2031.
China is estimated to emerge as a highly lucrative market and the consumption of stone paper in the country is projected to be 1.2X in 2021 more than the world average.
Printing industry is expected to be a major contributor to the market, with an incremental dollar opportunity of around US$ 15 million.
Increasing awareness regarding the consumption of sustainable products is fueling the demand for stone papers.
Growing concerns regarding the exploitation of natural sources of timber are estimated to drive market growth.
Surging demand from the packaging & decoration industry due to its high strength and water-resistance characteristics is spurring the sales of stone paper.
Environmental regulations on mining activities are restraining the growth of the stone paper market
Availability of substitutes such as pulp-based papers is impeding the sales of stone papers.
Leading stone paper manufacturing companies investing in research and development (R&D) for launching innovative products to enhance their product portfolio and aiming at establishing new manufacturing facilities to expand their global market presence. For instance,
In August 2019, TBM Co Ltd launched its new product, Limex bag, the bag contains zero petroleum-derived resins. Moreover, Limex can be used as a substitute to paper and plastic, thus declining the use of petroleum-derived products.
In 2016, Pishgaman Sanat sabz company (PSSCO) announced opening of a stone paper manufacturing facility in Yazd province of Iran. The manufacturing facility has an annual production capacity of 5,000 tons.
Some of the prominent market players operating in the stone paper market profiled by Fact.MR are:
Fact.MR, in its new report, offers an unbiased analysis of the global stone paper market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in the stone paper market with detailed segmentation
Stone Paper for Packaging & Decoration
Stone Paper for Industrial Use
Stone Paper for Printing
Stone Paper for Marketing & Advertising
Others (including Poster Display and Metro Advertising)
Key Questions Covered in the Stone PaperMarket Report
The market survey also highlights projected sales growth for the stone paper market between 2021 and 2031
The report offers insight into stone paper demand outlook for 2021-2031
Stone paper market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
Stone paper market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
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