Accelerated demand for high-performance paper packaging of medical supplies amid the COVID-19 Pandemic present sustainable growth opportunities for barrier coated paper manufacturers.
DUBAI, UAE / ACCESSWIRE / April 27, 2020 / The global barrier coated paper market will cross a total valuation of US$ 5.5 Bn in 2025. There is a sharp spike in demand for enhanced coated paper that provides additional protection from the outside environment. Various industry verticals are adopting barrier coated paper as a step towards reducing their carbon footprint. Surge in online retail in developing markets of East Asia and South Asia & Oceania will continue to strengthen demand for barrier coated paper based packaging.
"Nascent bio-based materials present financially rewarding opportunities to barrier coated paper manufacturers. Developing low-cost, eco-friendly barriers will give manufacturers the competitive edge," opines a FMI analyst.
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Barrier Coated Paper Market - Key Takeaways
- Water based coatings will account for the majority share of the total market value by 2029.
- Packaging will maintain its stronghold on the application segment of barrier coated paper revenues.
- Food industry is a major end-use of barrier coated papers.
- North America leads global sales with nearly 30% share of the barrier coated paper market.
Barrier Coated Paper Market - Key Driving Factors
- Eco-friendly initiatives across industries propagate the adoption of sustainable barrier coatings and drive the demand for barrier coated paper.
- Material research and development of recyclable barrier coated paper will drive wider adoption of the product.
- Consumer trends such as preference of 100% sustainable packaging support the growth of the barrier coated paper market.
- Post-COVID-19, manufacturers will witness an increase in demand for barrier coated paper on the back of high-performance sterile packaging to prevent contamination of perishable products.
Barrier Coated Paper Market - Key Constraint
- Trade restriction between countries to contain the spread of coronavirus constraint raw material procurement, and distribution for manufacturers.
Combating Economic Uncertainties from COVID-19
The disruption of normalcy caused by the pandemic is proving to be detrimental for many economies. Raw material procurement has become a challenge for many market players. Further, suspension of social gathering and the subsequent demand for food products indirectly affects the revenues from food packaging.
However, market players can find sustainable opportunities in healthcare applications of barrier coated packaging. With intensive efforts to treat infected patients, medical supplies are a top priority for governments across the world. Hence, manufacturers can garner growth or financial recovery by targeting healthcare applications of barrier coated paper during the forecast period.
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Competitive Landscape
Strategic collaborations to develop innovative barrier coated paper is an omnipresent business tactic. For instance, in November 2019, Smurfit Kappa entered into a strategic partnership with Mitsubishi HiTec Paper to combine their expertise and produce a recyclable food-safe packaging solution. Major players in the market are, but not limited to, Stora Enso Oyj., UPM - Kymmene Oyj., Sappi Ltd., Billerudkorsnas AB, and Mitsubishi Paper Mills Limited.
More About the Report
The FMI's market research report of 300 pages offers comprehensive insights on the barrier coated paper market. The market is analyzed on the basis of coating (water-based, solvent-based, and wax), material (paper, and plastic), application (packaging, and printing), end-use industry (food, beverages, cosmetic & personal care, pharmaceuticals, building & construction, electrical & electronics, tobacco packaging, and other consumer goods), across seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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