by Converting paper refers to specialty paper or paperboard that is commonly used for various converting processes such as folding cartons, flexible packaging, labels and tapes. It finds wide applications in food, beverages, pharmaceuticals and personal care industries for packaging purposes. Converting papers provides properties such as printability, machinability, barrier protection and shelf appeal to packaged products. The growth of e-commerce and demand for attractive and durable packaging has propelled the demand for converting papers across the globe.
The global converting paper market is estimated to be valued at US$ 498.41 Mn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Sustainable packaging is one of the major trends being witnessed in the converting paper market. There is growing consumer preference for eco-friendly products and packaging made from recycled or sustainable raw materials. Paper being a renewable resource, converting papers manufactured using recycled fibers are gaining traction. Key players are focusing on developing converting papers with lower carbon footprint and offering sustainable packaging solutions to end-use industries. For instance, increased adoption of sustainable flexible packaging made from paper or paperboard for food and consumer goods is promoting the use of recycled content or FSC certified virgin pulps for manufacturing converting papers. This trend is expected to continue and drive the demand for sustainable converting papers over the forecast period.
Porter’s Analysis
Threat of new entrants: Low capital requirements and widespread availability of raw materials poses moderate threat of new entrants.
Bargaining power of buyers: Many buyers in packaging, printing and publishing industry results in high bargaining power of buyers.
Bargaining power of suppliers: Presence of numerous suppliers of pulp and paper keeps bargaining power of suppliers in check.
Threat of new substitutes: Digital media has seen rise as substitute but paper still has demand in packaging, publishing, newspapers etc.
Competitive rivalry: Intense competition exists among regional and international players operating in converting paper market.
Key Takeaways
The Global Converting Paper Market Size is expected to witness high growth. The global converting paper market is estimated to be valued at US$ 498.41 Mn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031.
Regional analysis comprised Asia Pacific dominates the global converting paper market and is expected to maintain its lead over the forecast period. This can be attributed to rising demand from packaging and printing industries in China and India.
Key players operating in the converting paper market are GlaxoSmithKline, Kimberly-Clark Corporation, Georgia-Pacific LLC, International Paper Company, WestRock Company.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
