The market for paper and paperboard reached a value of nearly $482.4 billion in 2017 and is expected to grow at a compound annual growth rate (CAGR) of 1.7% to nearly $523.6 billion by 2022.
Albany, NY -- (SBWIRE) -- 03/19/2018 -- Paper and paperboard market is experiencing steady growth since many years. The market is expected to continue growing due to huge increase in population and also in need of packaged products. A new research report added to the repository of Market Research Hub, highlights a complete scenario of the global paper and paperboard market. The report is titled 'Paper and Paperboard Manufacturing: Global Markets to 2022'.
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Paper and Paperboard Manufacturing: Overview
This comprehensive research report is based on the facts curated in examination of each and every part of global paper and paperboard market. The report suggests that the market is expected to witness a drop due to sudden enhancement in digitalization and use of plastic. The global paper and paperboard market is anticipated to grow at a sluggish CAGR of 1.7% during the forecast period, and reach a market value of over US$ 500 bn by the end of 2022. The major section of market growth is contributed by paper manufacturing due to its growing use. The food industry is also increasing the use of paper for packaging of food including popular products like processed meat and chicken. The report also briefs other factors that have impacted the market and the segments marked lucrative in the industry.
Paper and Paperboard Manufacturing: Segmentation
The global paper and paperboard manufacturing market is broadly divided into segments based on product type and regions. The segmentation helps in distributing the analysis into parts, giving more accurate results and increasing the scope of study. The product type's segmentation includes paper manufacturing and paperboard manufacturing, whereas regional segmentation includes Asia Pacific, North America, Western Europe, South America, etc.
Among product type segments, paperboard segment is expected to grow at a higher rate of 2.6% during the forecast period. Among the regions, Asia Pacific leads the market with highest market value projected during the forecast period. South America leads in terms of market growth which is projected to be 7.1% during the forecast period. However these segments might face a hindrance in growth due to factors like growing digitization and abolition of manual writing or use of papers for writing. There has also been an increase in prices of plastic which has a negative impact on market's growth.
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Paper and Paperboard Manufacturing: Competitive Landscape
An important part of the report is competitive landscape of the market. It briefs the profile of all major players in paper and paperboard manufacturing industry. These players are analyzed on the current developments taking place in the company, and future strategies for their businesses. This helps in getting a grip on the competitive edge of the market. It helps in identifying the companies that are threats to other businesses in the industry. Some of the key players mentioned in the report are International Paper, WestRock Company, Svenska Cellulosa Aktiebolaget, Kimberly Clark, etc.
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