The global paperboard market is expected to drive on account of growing manufacturing and packaging industries across the globe. Several paper pulp layers are compressed in order to make paperboard as a finished product. They are widely used by manufacturers and retailers for packaging purposes. The growing paperboard packaging trend is expected to propel the market over the forecast period. They are easy to operate which means they are easy to open as well as close.
Other key advantages associated with paperboard include its eco-friendly nature and easy recyclability. Such environment-related factors are expected to positively impact the global market over the forecast period. Product manufacturers, retailers, and end-users find paperboard as an attractive, environmentally friendly, and low handling cost product, which is expected to boost their interest in the product and augment the global market across the globe over the forecast period. Further, other properties such as their sustainability and reusability are also expected to drive the global market over the forecast period. A rise in environment-related concerns and issues are expected to boost the global market, especially in the packaging sector over the forecast period.
Paperboards are not acceptable by manufacturing units producing large weight products for packaging activities as they are not able to handle high stress and pressure owing to which it is expected to hinder the global market growth. As paperboards are produced from tree pulp or wood pulp, it results in deforestation which is expected to obstruct the global market in the coming years. Stringent environment-related regulations by EPA are expected to slow down the market growth rate over the forecast period.
The global paperboard market is segmented on the basis of product and application. The product segment is categorized as coated unbleached Kraft Board, cup stock board, white lined chipboard, liquid packaging board, and virgin fiber-based board. Among all these products, a white lined chip board is majorly used in various applications such as foods, personal care, health care industries, garments, and toiletries. The application segment is further segmented into graphic printing and packaging. The packaging sub-segment comprises food & beverages, medical sector, manufacturing sector, and personal care manufacturing units. Lightweight, and easy in handling while loading & unloading are some properties owing to which they are hugely acceptable by packaging industries.
Asia Pacific was holding the major global paperboard market share and is expected to continue this trend over the forecast period. Emerging economies, high industrialization, increasing population, and surging manufacturing units are some factors expected to contribute positively to the regional market growth over the forecast period. Countries such as China, India, and Brazil are expected to boost the overall market in Asia Pacific region owing to ongoing industrialization coupled with end-use industry developments. Significant market growth is expected in North America followed by Europe over the forecast period on account of huge paperboard demand from packaging and manufacturing industries coupled with stringent government rules & regulations for using eco-friendly tools for packaging related activities are expected to boost the market in North America and Europe over the forecast period.
Global paperboard market player includes Metsa Group, Sappi Limited, Caraustar and Cascades Inc., Oji Holdings Corporation, Shandong Bohui Paper Group Co., Ltd, International Paper Company, Clondalkin Group, ITC Limited, Nippon Paper Industries Co. Ltd., Paper Works Industries, Stora Enso Oyj, Multi Packaging Solutions, Smurfit Kappa Group plc., Graphic Packaging International and Mondi plc. The global market is highly fragmented in nature. Developing countries are expected to be the major targets on account of huge global paperboard demand from growing end-use industries including packaging and manufacturing. In addition, these countries are more focused on the recycling process which is expected to reduce overall production cost coupled with deforestation rate to an extent.
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The mining industry accounts for a vital share of the global economy and is responsible for supplying key raw materials for several applications and end-use industries, thus being a key sector of focus amidst the ongoing pandemic outbreak. Mining industries in China are expected to return to normal operations by Q3 of 2020 as enterprises indicated towards the returning of their workers soon. Moreover, Iron ore producers are known to be the least impacted. Major players such as BHP and Vale reported experiencing no major influence on their operations due to the COVID-19 virus. The iron ore prices reached above USD 90 per ton amidst the pandemic situation which may negatively impact the end-use industries. The report will account for Covid19 as a key market contributor.
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