The specialty paper market, in terms of volume, is projected to reach 34,879.08 KT by 2020, growing at a CAGR of around 6.59%. Specialty papers are special grades of paper which are possess of specific characteristics and properties designed for specific end use. The raw material used for specialty paper are pulp (from wood chips, recycled paper, wood pulp, and cotton fiber), which is fed into the paper-making machine; after that, the paper is coated with specialty chemicals for preparing it for a specific use. Specialty paper has emerged as a lucrative segment for the paper industry. From paper currency to coffee filters, décor papers, insulation paper, and carbonless copy paper, they are present in the daily lives of consumers.
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Specilaty paper is one of the most important segment of paper and play a very significiant role for the industries such as packaging, printing, construction and labeling. Specialty paper is manufactured and sometimes, normal paper converted into special paper with use of chemicals. The specialty paper is in specific grades and is intended to use for special purpose. Specialty paper are gaining significance due to increasing end-use application and improving lifestyle and economy in countries such as India, China, Japan, Brazil, and Argentina.
The specialty paper industry is witnessing growth due to increasing consumer demand for high-quality products in sectors providing food & beverages, cosmetics, and lifestyle products. The packaging paper required for these products needs to possess specific properties related to moisture retentions, hygiene, durability, and pH levels. The specialty paper market is mainly driven by the packaging & labeling application.
The printing application of specialty paper is affected by the increasing digitization; however, specialty grades required for printing currency notes and specialty bond papers is witnessing demand. The market dynamics for specialty paper are complex and are changing with time.
Factors such as improving economic condition in countries and increasing end-use applications are the major drivers of the specialty paper market. Specialty papers are one of the special grades of paper, which have specific characteristics and properties and are designed for some particular end use. Specialty paper is segmented on the basis of type into decor paper, release liner paper, packaging paper, and printing paper. In terms of application, the market for specialty paper is classified into building & construction, industrial, packaging & labeling, printing & writing, and others (medical application, automobile filter application, and banking application). Packaging & labeling dominated the specialty paper market, having contributed around ~46% share.
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