The global duplex paper and board market is expected to rise at a CAGR of ~6.1%, during the forecast period. The duplex paper and board market is expected to witness a soaring growth in 2021 with revenues up 5.2% each year. A new forecast by FMI estimates that the duplex paper and board profit margin for manufacturers will nearly double between 2021 and 2031. The majority of demand for duplex paper and board is because of high usage of its packaging in pharmaceutical and food & beverage industries.
Duplex Paper and Board Market: An Overview
Duplex paper and board are utilized in manufacturing of folded carton boxes, cardboard layers that have variety of end use applications. Duplex paper and board will witness a tremendous increase in demand during the future years due to its increased usage for packaging application in pharmaceutical, personal care, food & beverage and others.
Duplex paper and board sales are highly dependent on the extensive usage for product packaging in different industries, by which there is always a default competition between key players to provide cutting edge packaging solutions for end users. Moreover, the excellent surface quality of duplex board in addition to the optical property will provide it to be better option with good printability and attractive look.
Key players are focusing on innovation and development to increase application of duplex paper. In addition to all this, duplex board is manufactured from recycled fibres which also reduces carbon footprint generation from this market. These factors will contribute to the rise of duplex paper and board demand in future years.
What Accelerates the Market Growth of Duplex Paper and Board?
The global packaging industry is primarily focused on providing ecological options for packaging purposes. The increase in demand for biodegradable packaging across globe has gradually increased the demand for duplex paper and board market in manufacturing sectors which include FMCG, retail, pharmaceutical, and many more.
The extensive ban of plastic by governments across the world due to new regulations and legislations has influenced the demand for duplex paper and board. The pulp and paper manufacturers are keenly focused on increasing the production capacity along with implementing new innovations across the way. These factors will simultaneously drive the duplex paper and board market.
What are Market Opportunities for Duplex Paper and Board Market?
Opportunities are tumbling down on duplex paper and board market, ability of producing biodegradable packaging options have taken the entire industry to follow the unprecedented transition. Extraction of fibres from magazines, newspaper, books and converting them to manufacture biodegradable duplex paper and board has sky rocketed the sales for the product.
This feature will be a tremendous opportunity to minimize the usage of capital in raw material procurement and help increase the financial profitability of duplex paper and board market.
What are the Key Market Trends Impacting the Duplex Paper and Board Market?
The demand of eco-friendly and biodegradable solutions has made its way to e-commerce industry. The increase in sales for e-commerce is expected to directly impact the demand for duplex paper and board during the future years. This change is effected due to extensive use of large volume of cardboard boxes for home deliveries. The positive outlook of retail industry towards duplex paper consumption will drive the market.
What are the Market Restraints for Duplex Paper and Board Market?
Durability of recycled products of duplex paper and board will always remain a question to discuss, as with periodic recycling the fibre strength decreases. This can cause loss of product and is a restraint which is limits the demand for duplex paper and board in the market.
However, using binding agents while preparing recycled products will extensively improve the strength of product, which in turn increases demand and revenue generation for the Duplex Paper and Board market
Competitive Landscape
Global Players:
Kimberly-Clark Corp.
Stora Enso Oyj
International Paper Company
The West Coast Paper Mills Ltd. (SKG)
Mangum Ventures Ltd.
El-Salam Paper Mills
Sappi Ltd
Emami Paper Mills Ltd.
Millennium Overseas.
APAC Players:
Hangzhou Gerson Paper Co. Ltd.
JK Paper Ltd.
Balakrishna Paper Mills Ltd.
Monit Paper and Chemicals Pvt. Ltd.
Asia Pulp and Paper
Nippon Paper Industries
Murli Industries
Venkraft Paper Mills Pvt. Ltd.
Qiongdao Sanshi Paper Co. Ltd.
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