Asia Pacific Sustains the “Most Lucrative Region” Title in Converting Paper Market through 2027
Transparency Market Research provides key insights on the converting paper market in its recently published report, named “Converting Paper Market Global Industry Analysis, Size, Share, Growth, Trends, Historic Analysis 2014 – 2018 and Forecast 2019 – 2027.” In terms of market value, the global converting paper market is projected to grow at a CAGR of 1.9% during the forecast period, owing to various factors, about which TMR delivers thorough insights and forecast in the global converting paper market report.
The United States and Canada are taken under consideration for the North America converting paper market analysis. The United States is estimated to dominate the converting paper market due to the evolving packaging industry and intolerance for plastic products in packaging. The rapidly growing digital media is expected to restrain the growth of graphic paper in the North American region.
The Latin America converting paper market is projected to witness fast-paced growth due to an increase in demand for tissue paper and packaging paper. Owing to a rise in demand for consumer paper products, Brazil is expected to be a highly attractive converting paper market in terms of market share and growth rate during the forecast period.
The European converting paper market is segmented into Germany, Italy, France, United Kingdom, Spain, Benelux, Nordics, Russia, Poland, and Rest of Europe. Germany is estimated to dominate the European converting paper market in terms of production and consumption. Germany is one of the largest converting paper exporters across the globe followed by China and the United States. The hygiene paper segment is estimated to witness fast-paced growth in the European converting paper market during the forecast period. In the European market, the packaging industry is expected to share half of converting paper share by the end of 2027.
The Asia Pacific is projected to be an emerging market for converting paper during the forecast period. Rapidly evolving packaging industry of China, India, and ASEAN is the prominent driver for the converting paper markets in the region, although relatively gentle regulations for the usage of plastics in the region have restrained the growth of converting paper in the geography. The Asia Pacific market, especially China and India, is anticipated to be the largest consumer of paper for writing, printing, and packaging. It is expected to promise high returns on investments by key global players. The introduction of new enterprises in China and India are improving the market share of printing paper. The growing urbanization and economy drive the demand for paper for writing and printing with consumption in packaging.
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The Middle East & Africa region is analysed by evaluating key countries including GCC countries, Northern Africa, South Africa, and Turkey. Countries in North Africa, specifically Egypt, are gradually emerging as the prominent consumers of converting paper in the MEA region due to the increasing domestic demand for paper products such as food containers, tissue papers, and other packaging products. At present, Turkey is the largest converting paper market in the MEA region with around one-fourth of the market share in 2019.