According to a new market research report published by Acute Market Reports “Book Papers Market By product type (Uncoated Wood Free, Coated Wood Free, Coated Mechanical, Uncoated Mechanical) By Application (Educational, Academic/Professional, Trade/Consumer Books, and Others) - Growth, Future Prospects, and Competitive Analysis, 2020 – 2028,” the global book papers market was valued at US$ 9,334.1 Mn in 2019 and is expected to reach US$ 11,279.6 Mn by 2028, expanding at a CAGR of 2.4% from 2020 to 2028.
Browse the full Book Paper Market - Growth, Future Prospects and Competitive Analysis, 2020 – 2028 report at https://www.acutemarketreports.com/report/book-paper-market
Market Insights
High demand from the Asia Pacific region is the major driver for the books papers market. Increased usage from developing countries such as South Korea, India, and Indonesia, and so on, forcing manufacturers to set up bases in this region. Demand from countries where the literacy rate is booming is also helping in the rising usage of book papers in this region. Since the paper market in the Americas and the European Union has already reached to saturation level, major players in the book papers market are targeting Asia-Pacific for pulp plantation and paper manufacturing.
The Middle East & Africa is a highly attractive region that has been benefiting from the growing demand for paper printing. However, there is a lot of untapped potential for product expansion in these regions. This region is the third fastest-growing market in terms of market value growing at a CAGR of 2.5% between 2020 to 2020.
Factor such as urban population growth, rising household incomes, the development of a consumer class, and so on is expected to drive the book papers consumption across the applications such as educational, academic, and children & adult books. Higher urbanization and consumerism have been the key drivers for the structural changes in the global paper industry. Since the aforementioned factors are present in the emerging economies the industry is shifting from west to east leading to the Asian and South American emerging economies on top of the consumers and producers list, while the traditional big consumer and producer regions such as North America and European region are stagnating.
Rapid economic growth coupled with increasing urbanization and educational levels is fueling the demand for paper consumption in emerging economies. Economies such as India, China, Indonesia, Brazil, Poland, Russia, Turkey, and so on, are characterized by rapid population growth, rising disposable incomes and the concomitant expansion of a consumer class; deregulation of media; rapid technological change; which makes them favorable for books paper market to show robust growth.
Some of the major companies operating in the market include Shandong Chenming Paper Holdings Ltd, Holmen AB, International Paper Co., Khanna Paper Mills Limited, Nine Dragons Paper Holdings Limited, Nippon Paper Industries Co., Ltd., Norske Skogindustrier ASA, Oji Holdings Corporation, Stora Enso AB, Svenska Cellulosa Aktiebolaget SCA, UPM-Kymmene Corporation, PT Indah Kiat Pulp & Paper Corp Tbk, PT Pabrik Kertas Tjiwi Kimia Tbk, and Sundaram Multi Pap Ltd.
