Global Stone Paper Market Value Projected to reach nearly US$ 14 Billion by 2023

by Zayn Mathew Market Research Reports

The global stone paper market has witnessed a stable growth over the past few years. This can be accredited to a rise in the demand for stone paper from a wide array of industries, its eco-friendly nature and rising investments in R&D.

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According to the latest report by IMARC Group, titled “Stone Paper Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global stone paper market reached a value of US$ 12 Billion in 2017. Stone paper is a highly durable, strong and eco-friendly paper-like material made by using a blend of calcium carbonate and high-density polyethylene (HDPE). It is also known as paper from waste marble, rich mineral paper and rock paper. Over the years, stone paper has gained prominence among the consumers since it offers a number of advantages over conventional paper. It is acid-free with a neutral pH; resistant to water, grease, and insect; and collects no static charge. Additionally, it is non-toxic, food safe, fire-resistant, recyclable, waterproof and FDA compliant. Owing to these properties, stone paper is increasingly being used for various purposes including stationery, packaging, adhesives, wrappers, bags, etc.

Global Stone Paper Market Trends:

The rising e-commerce and organised retail sectors have broadened the growth prospects of the packaging industry. Since stone paper helps in enhancing the aesthetic properties of the packaged product along with providing an environment-friendly and economical solution, this has fuelled its demand for packaging applications. Moreover, the growing concerns among the consumers regarding pollution caused by plastic packaging and the negative impact of pulp paper have stimulated the sales of stone paper, particularly in the developed regions. Further, the continuous advancements and increasing investments in manufacturing technologies are boosting the market growth. However, the easy availability of substitutes remains the key challenge hampering the global stone paper market growth. Looking forward, the market value is projected to reach US$ 14 Billion by 2023, expanding at a CAGR of 2.6% during 2018-2023.

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Global Stone Paper Market Segmentation:

Market Breakup by Application:

1. Paper Packaging

2. Labeling Paper

3. Self - Adhesive Paper

4. Others

Based on application, paper packaging represents the largest segment due to the growing concerns regarding the usage of plastics as well as the recyclable and eco-friendly nature of the product. Paper packaging is followed by labelling paper, self-adhesive paper and others.

Market Breakup by Region:

1. North America

2. Europe

3. Asia Pacific

4. Latin America

5. Middle East and Africa

Region-wise, North America is the leading market, accounting for the majority of the global share. Due to the advancements in technology and support from various organisations, the demand for stone paper is accelerating. North America is followed by Europe and Asia Pacific. Other major regions include Latin America, and Middle East and Africa.

Competitive Landscape:

The competitive landscape of the market has also been examined with some of the key players being Stone Paper Company Ltd., Kapstone Paper, Gaia-Concept BV, Taiwan Lung Meng Technology Co. Ltd., Sòluz Stone Paper S.A., Packaging Corporation and Parax Paper.

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