Stone Paper Market Growth & Trends
The global stone paper market size is expected to reach USD 1,329.0 million by 2030 and is expected to expand at 6.0% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. This growth can be attributed to the eco-friendly, recyclable, and waterproof qualities of the product. In addition, increasing environmental concerns regarding deforestation for wood procurement to synthesize wood pulp are expected to fuel the demand. Furthermore, stone paper is expected to replace conventional paper over the forecast period.
Technological innovations, product variations, and growing application areas are expected to emerge as key factors for market growth over the forecast period. Stone paper exhibits eco-friendly, recyclable, and photo-generation qualities. Moreover, companies such as Sphera International have developed a UV light barrier material that can be added to control the rate of photodegradation of stone paper, which is expected to improve growth prospects for the company, thereby contributing to the market growth.
The high product demand in the packaging industry is a major growth driving factor for the market. The product finds extensive application in consumer goods (FMCG), healthcare, and the food & beverage industry in the form of sack bags, fast food bag, carry bag, and premium retail bag. The product growth in the food and beverage application industry is attributed to the sustainability and aesthetic qualities of stone paper.
Problems associated with conventional paper manufacturing and the need for reduced consumption of plastics have driven manufacturers to employ an alternative material. Stone paper offers improved characteristics such as high tear strength, less moisture absorption, and significant chemical resistance. High durability is the key strength of stone papers, which makes them increasingly appealing in packaging applications. Across the globe, the consumption of plastics has significantly dropped. This has forced many companies to opt for alternative materials such as stone papers for packaging, labeling, and adhesive applications.
The presence of several raw-material suppliers in the market, coupled with an increasing trend to adopt eco-friendly substitutes to conventional paper, is expected to open growth avenues for new participants in the market. Though stone paper is slightly more expensive than traditional paper due to the use of HDPE (a petroleum derivative) while manufacturing, the positive environmental aspect of stone paper is expected to offer tremendous opportunities to new entrants in the market owing to the high demand for a recyclable and eco-friendly product.
The market is moderately competitive in nature owing to the presence of a few manufacturers that are consolidated in Asia-Pacific and Europe. Several key companies involved in the production of limestone and subsequently, calcium carbonate, in the North and South America region include LafargeHolcim, CEMEX S.A.B de C.V, and The National Lime & Stone Company. The growing production of limestone and calcium carbonate by these companies remains a key growth driver in the region.
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Stone Paper Market Report
Stone Paper Market Report Highlights
- The packaging paper application segment is expected to dominate the industry in terms of volume with a CAGR of 6.6% from 2023 to 2030, as the product is an eco-friendly alternative. Stone paper is a strong contender to replace traditional paper and is manufactured using calcium carbonate and high-density polyethylene. Moreover, the production of stone papers does not involve cutting trees or use of gallons of water. Demand for waterproof, tear-resistant, insect-proof, fireproof, and grease-resistant packaging materials is anticipated to increase the product demand in packaging applications
- Advancements in labeling technologies are likely to enhance the demand for stone paper across the globe. With the expansion of online-marketing platforms, consumers are exposed to a vast variety of products. This necessitates demand for advanced and attractive labeling for products; progress made in labeling technologies is anticipated to enhance the market demand
- The growth of the market in Canada is driven by flexible packaging, paperboard packaging, and container manufacturing. The Canadian packaging market was valued at USD 20.9 million in 2022 and is expected to advance at a CAGR of 3.2% during the forecast period. The need for smart packaging and improved shelf life, especially in food and beverage, and pharmaceutical applications are driving the need for advanced products such as stone paper in the country
- Most manufacturers operating in the U.K. paper and pulp industry have started to focus on bringing sustainable products with high durability. Stone paper is a sustainable and non-toxic product as its manufacturing does not include any chemicals or a high amount of water. The demand for grease and moisture-proof packaging materials is driving the market’s growth in the U.K.
