COVID-19 pandemic predicted to have an inimical impact on Pulp and Paper Market Growth which includes many chemical processes used in paper manufacturing.
Silver lining in pandemic
- Despite China being centre stage for pulp and paper market growth, the pandemic has jolted spending patterns of consumers. Moreover, there have been restriction on the purchases of non-essential goods by governments in several COVID-19 smashed countries, leading to a further fall in demand for paper packaging industries.
- According to latest study by Fortune Business Insights™, pulp and paper market size is expected to hit USD 368.10 Billion by 2027 with 0.8% CAGR over the projected timeframe.
- The industry is poised for pulp and paper market growth with respect to bleaching and functional chemicals used in specialty paper production for applications like packaging, printing, and labelling.
- The detailed report analysis assists in finding the best planning strategy to combat the pandemic. This analysis is presented in a new research called “Pulp and Paper Market Size, Share & COVID-19 impact analysis.
- The global demand is forecasted to gain encouraging momentum due to widening purchases of cosmetics, grocery and food products by multifarious users from e-commerce platforms.
- The Report addresses the below mentioned questions-
- The areas and segments regulated by the industry.
- How can the companies raise pulp and paper sales by 2019 – 20?
- What tactics players be adopting to improve their roles?
- What are the major challenges, opportunities, growth drivers and market dynamics?
Drivers & Restraints
- The Company’s switch to environmentally sustainability will stimulate growth in the recycling industry undoubtedly.
- The leading FMCG, cosmetics and food companies are teaming up with paper and pulp manufacturers to introduce better approaches for packaging products. However, as paper industries require a bunch of wood, the water crisis and deforestation rates are scaling up, which may disrupt the market growth.
Segments under focus
- With the increase in consumption of paper based packaging products, Wrapping & Packaging Segment is all set to see new highs. The sector is bifurcated into newsprint, sanitary, printing & writing, wrapping & packaging and others.
- In the near future, India is supposed to maintain steady growth due to the country’s high demand for paper-based products. The growing economic growth in Malaysia, Indonesia and Vietnam will give opportunities for paper manufacturers. On the other hand, North-America held USD 64.11 billion in terms of revenue in 2019.
- The market Key players are concentrating on acquisitions & investments, which is a competitive background of the report. For instance, Nippon Paper Industries Co. Ltd. has acquired the paperboard and fiber based packaging business from Orora Limited (Newzealand). Georgia-Pacific Corporation also announced investments of USD 120 million in Naheola Paper Mill for improving its bath tissue business.
The pandemic has given new positives to look at the visionary growth spur goals in the pulp and paper market growth at the global level.