Major companies in the converted paper products market include International Paper Company, Kimberly Clark Corporation, Procter & Gamble, WestRock Company, Essity AB, Smurfit Kappa Group PLC, DS Smith plc, Reynolds Group Holdings Limited, Mondi Group and Unicharm Corporation.
The global converted paper products market is expected to grow from $512.98 billion in 2021 to $559.66 billion in 2022 at a compound annual growth rate (CAGR) of 9.1%. The market is expected to grow to $757.17 billion in 2026 at a compound annual growth rate (CAGR) of 7.8%.
The converted paper product market consists of sales of converted paper products by entities (organizations, sole traders and partnerships) that produce converted paper products from other paper and paper board products. The converted paper products include paperboard and corrugated boxes, paper bags, stationery, sanitary paper products, and other products (crepe paper, die-cut paper for non-office use, and molded pulp products).
The main types of converted paper product are paperboard container, sanitary paper product, stationery products, paper bag and coated and treated paper and all other converted paper products.The term stationery refers to mass-produced writing products such as letters, paper, pencils & pens, and other office supplies.
Wood and agro residue, waste and recycled paper are used as raw material for converted paper product. The different sectors include packaging & wrapping, food service, printing, others.
Asia Pacific was the largest region in the converted paper products market in 2021.North America was the second largest region in the converted paper products market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Increasing demand for online shopping is expected to help the converted paper products manufacturing market grow.Manufacturers can now sell their products on a larger platform than before, which will increase their customer base geographically driving the growth of the converted paper products manufacturing market.
In countries such as India, for instance, e-commerce portals have boosted the sales of paper products manufacturers by giving larger exposure to producers who were confined to one geography where their respective community was located.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the converted paper products manufacturing market in 2021 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 converted paper products 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
The paper industry has been shifting from labour intensive manufacturing processes to automated production facilities.Automation has enabled converted paper product companies to enhance productivity and reduce production costs.
These technologies are also saving energy cost.Control systems such as integrated drive systems (IDS) are improving plant efficiency by minimizing energy consumption and simplifying service and maintenance processes.
For instance, Swedish company Stora Enso partnered with Siemens to automate its Skoghall facility.
The countries covered in the converted paper products market Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.
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