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Apr 17, 2023

Coated Paper Market to Reflect Tremendous Growth Potential with A CAGR of 3.3%BY 2030

The Coated Paper market is anticipated to exhibit a growth rate of 3.3% during

The Coated Paper market is anticipated to exhibit a growth rate of 3.3% during the period from 2019 to 2030 on a global scale. In 2021, the market was valued at USD 50.54 Billion. The primary driving factors for the industry's demand include the increasing trend of online sales and trade, rising demand for advertising and packaging across various sectors, and the use of coated paper in advertisement media such as newsprints, magazines, brochures, and catalogs.

The growth of e-commerce and online shopping has significantly increased the demand for packaging materials, leading to the expansion of the coated paper industry. Additionally, there is a growing consumer preference for eco-friendly products, resulting in a shift away from plastic packaging. The food and beverage industry is also adopting biodegradable alternatives, further fueling the growth of the industry. Governments worldwide, including those in European countries, the USA, India, and China, are implementing initiatives to ban plastics as packaging materials, making paper packaging a favorable alternative. In summary, changing trends in the packaging industry are expected to contribute significantly to the market's growth in the forecast period.

However, deforestation worldwide has caused a scarcity of wood pulp supply, leading to an increase in its price. This poses challenges for the coated paper industry as the cost of its products rises, making it face tough competition from alternative solutions. Additionally, the industry requires substantial capital and labor resources, and rising labor rates globally impact the market. These factors restrict the industry's growth. To address these challenges, major players in the industry are focusing on developing innovative packaging, labeling, and printing solutions to reduce costs while maintaining sustainability.

COVID-19 has had a positive impact on the industry to some extent, as the crisis has significantly boosted the e-commerce sector. Lockdown measures implemented worldwide have limited people's physical access to goods, resulting in a heavy reliance on online delivery services for everyday items. These products require packaging, driving the demand for coated paper even during the crisis. However, experts are concerned that the demand may soon exceed supply due to disruptions in production processes worldwide. Major players are looking to increase their production capabilities and capitalize on the situation to further drive the industry's growth.

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