Paper converting is a process that comes from taking the paper and converting it into another product. Converting paper finds use in various applications such as hygiene paper, writing paper, newsprint, printing paper, and others. Increasing demand for converting paper from various applications is expected to propel growth of the global converting paper market.
Among pulp type, chemical wood pulp is a pulp obtained Kraft pulping process and it is the most common process used by cooking or digestion of wood treating with different solutions of chemicals. The paper produced from chemical wood pulp are colorless and the products which are manufactured are quite strong. Usually, chemical pulps are used to make writing and printing papers, paper bags, shipping containers, and various other paper product categories that require strength.
Among applications, packaging segment accounted for the largest revenue share in 2018, in the global converting paper market. Converting paper is used in packaging industry for production of carton board, corrugated board, and flexible paper. Growth in packaging industry leads to high demand for converting paper. For instance, in 2017, Wisconsin Economic Development Corporation (WEDC) stated that the Indian packaging industry offered significant business opportunities and held nearly about 4% of the global packaging industry. Furthermore, India's per capita packaging consumption was only 10.5 kg per year, as compared to other countries such as 109 kg in the U.S., 32 kg in Brazil, and 45 kg in China.
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However, digitalization and increasing usage of mobiles with high internet speed is adversely affecting newsprint and writing & printing paper markets. Growing adoption of digitalization and high usage of mobile phones for social media networking is expected to reduce the demand for newsprint and printing & writing paper. Paperless communication and digital media are replacing paper and are projected to adversely affect the converting paper market for office paper and newsprint products.
The global converting paper market was valued at US$ 369.2 million in 2018, and is expected to register a CAGR of 2.5% in terms of revenue over the forecast period (2019–2027), to reach US$ 458.0 million by 2027.
Asia Pacific is expected to record the fastest growth in the global converting paper market over the forecast period, owing to increasing demand for newsprint supported by increasing population and improving literacy rates of the populace in the Asia Pacific region. For instance, according to Credit Analysis & Research, an increasing number of magazines and newspapers and rising circulation in India is likely to boost newsprint demand, which is expected to reach 2.7 million tons in 2019. Therefore, significant increase in demand for newsprint is expected to boost the global converting paper market during the forecast period.
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Europe is expected to hold significant market share in the global converting paper over the forecast period. According to Confederation of European Paper, paper and board production was stable in 2018, compared to the last three year. Total production of paper reached to 92.2 million tons in 2018 from 91 million tons in 2016. This target was achieved due to upgradation of existing machines and net capacity increase of 1.3 million tons.
Furthermore, key players in the market are focused on adopting strategies such as technological development and collaborations, in order to strengthen their footprint in the global converting paper market. For instance, in January 2018, American Eagle Paper Mills introduced recycled printing papers, Eagle Inkjet 100. Eagle Inkjet 100 is engineered to deliver exceptional print performance across multiple high-speed inkjet platforms. Produced from 100% post-consumer recycled fiber, Eagle Inkjet 100 offers a high quality, sustainable paper option for consumers and corporations looking to minimize their environmental footprint. It is an ideal and environmentally conscious choice for direct mail, transpromotional marketing and transactional printing.
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Major players operating in the global converting paper market include International Paper Company, Georgia-Pacific LLC, Finch Paper LLC, Burgo Group SPA, Alberta Newsprint Company Ltd., Rolland Enterprises Inc., P.H. Glatfelter Co., American Eagle Paper Mills, Asia Pacific Resources International Holdings Ltd., Canfor Corporation, Domtar Corporation, Twin Rivers Paper Company Inc., UPM-Kymmene Oyj, BillerudKorsnäs AB, Catalyst Paper Corporation, Clearwater Paper Corporation, Stora Enso Oyj, Verso Corporation, Mitsubishi Paper Mills Limited, Delta Paper Corp., and others
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