Demand for more greener packaging is aligning with innovation in industrial applications to future drive sales of specialty papers, according to the latest Smithers research.
Data from its new study – The Future of Specialty Papers to 2028 – show production of these engineered premium paper grades will reach 26.52 million tons in 2023, up from 24.23 million tons in 2018. Despite challenging economic conditions in several core markets, an overall positive growth trajectory is forecast by Smithers expert data modeling. Consumption of specialty papers is forecast to increase at a +2.1% compound annual growth rate (CAGR) across 2023-2028, adding an extra 2.97 million tons of demand, globally, over the five[۱]year period.
The specialty paper market remains febrile, recent changes in paper sales patterns, in particular declining demand for office and printing grades, has seen several graphic paper assets retooled to make specialty grades. Modern papermaking innovations allow these to produce specialty grades on larger more efficient paper machines, threatening the margins of smaller established specialist paper converters.
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