According to a recent report by Fortune Business Insights, the
Pulp and Paper market is anticipated to reach USD 368.10 billion by 2027. The rise in the adoption of paper and pulp in the packaging and printing industry owing to the light-weight materials and increasing demand in various
end-use industries, largely from the pharmaceutical and printing industries are the major factors driving the growth of this market. Currently, North America holds the highest market share of the paper and pulp market on account of its growing requirement in the
packaging and consumer industry.
Millions of kilotons of recovered paper are imported each year globally, which is being used in the manufacturing of paper and
packaging products. The present use of recycled fibers in paper products is however not uniform. While most of the newsprint and packaging grades have more than 50 percent recycled content, printing, and writing paper has a global average of only 8 percent recycled content.
The Paper and pulp markets have a rising demand for pulp and paper from various applications
that include paper manufacturing, printing, and construction. Also, Pulp and paper are being used in a wide range of packaging applications in the end-user industries. These comprise consumer goods, food, and industrial packaging.
Rapid growth in application segments
The Indian paper & paper products market is projected to reach USD 13.4 billion by 2024, growing at a CAGR of 7.8 percent until 2024. The Indian paper & pulp products market has been divided into raw material, application, and regional segments. The demand for paperboard & packaging is growing rapidly in the application segments. This is because the paperboard & packaging caters to industries such as FMCG, food & beverages, textiles, and pharmaceuticals.
Whether companies are well-positioned for further growth or still in the growing process, they can expect demand to grow for paper and board products over the next decade. Paper manufacturing companies today are implementing various advanced technology in the paper manufacturing process. Strategic partnerships with technology providers who know how to synthesize advanced and emerging technologies to address the challenges in the core business processes is a key ingredient to achieve success in this industry.
J P Narain, VP, Indian Paper & Manufacturers Association and CEO of Century Paper said, “Paper industry is going through the transformation phase and few big paper companies are doing an expansion to meet their region or product or category-specific demand. Overall paper consumption is projected to increase to 24 million tons in 2024-25 from 15 million tons currently. I believe there will be a consolidation within the industry and we will see more players doing mergers and acquisitions activity to complement each other. Since it’s a manpower driven industry the same will generate jobs both directly and indirectly. Contributing to nation's development, India's quality paper producers serve the need for printing, writing, packaging, publishing, and stationery sectors.”
