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(MoneyNewsWire.Net, May 09, 2018 ) The global coated paper market is projected to reach USD 7.18 Billion by 2021, at a CAGR of 3.2% from 2016 to 2021. Coated paper is witnessing high demand from packaging industries in the Asia-Pacific region. The strategies of new product developments, and acquisitions & mergers adopted by different companies and growth of the packaging industry are the key factors driving the coated paper market.
Based on coating material, the Grounded Calcium Carbonate (GCC) segment is projected to lead the coated paper market from 2016 to 2021. GCC is mined from natural limestone deposits by fine grinding, washing, and crushing natural white calcite (CaCO3). GCC offers optimum particle size with high brightness, which is essential during the coated paper manufacturing process. GCC improves brightness, opacity, and gloss of the coated paper and is a cost effective coating material.
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Based on type, the coated fine paper segment is expected to lead the coated paper market during the forecast period. Increasing demand from high-end printing of books, magazines, financial reports, and promotional materials has led to an increase in the consumption of coated paper in the printing industry. Coated paper, also being an eco-friendly product, is considered as a food grade product, due to which, it is being used extensively in food and pharmaceutical industries.
Packaging is the largest application segment of the coated paper market. The packaging application segment consists of food packaging, cosmetics packaging, and pharmaceutical packaging. The demand for coated paper for packaging from Asia-Pacific was the highest in 2015. The increased demand for coated paper from the packaging industry is due to its low cost, high thermal stability, and mechanical flexibility. The use of coated paper is estimated to grow rapidly in Asia-Pacific, owing to easy availability of coated paper and presence of several industries using coated paper.
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The Asia-Pacific dominated the coated paper market in 2015 and is expected to continue its dominance during the forecast period. China, India, Japan, South Korea, and Indonesia are the major consumers of coated paper in Asia-Pacific. The high demand for coated paper is primarily due to its increased use in various industries such as printing and packaging. China is the major consumer of coated paper and the demand for coated paper is expected to increase during the forecast period in Asia-Pacific.
The growth of the coated paper market is affected by a few factors such as increased use of electronic media in the advertising and promotional industry.
Most countries are focusing on bio-based packaging for a sustainable environment. As coated paper is a bio-based product, it replaces conventional plastics in packaging. Plastic packaging is hazardous and hence, coated paper is increasingly being used in food packaging, pharmaceutical packaging, and cosmetic packaging in some regions.
Companies such as Oji Holdings Corporation (Japan), Nippon Paper Industries Co., Ltd. (Japan), Stora Enso Oyj (Finland), Sappi limited (South Africa), Asia Pulp & Paper (Indonesia), and UPM (Finland) are the leading players in the coated paper market. These companies have adopted various organic and inorganic growth strategies such as expansions, mergers & acquisitions, and new product developments to enhance their market shares.
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