Transparency Market Research delivers key insights for the saturating kraft paper market in its published report, which includes global industry analysis, size, share, growth, trends, and forecast for 2019-2027. In terms of revenue, the global saturating kraft paper market is projected to register a CAGR of 4% during the forecast period.
Growth Opportunities in High Growth Economies to Outweigh Challenges Posed by Intense Market Competition
Shifting consumer trends and technological innovations have led to players to contend with a greater number of competitors and strategic challenges, which have created new opportunities for players to come up with innovative solutions in the global saturating kraft paper market. Emerging countries, such as India, represent huge growth opportunities in the saturating kraft paper market.
The increasing usage of wood-based paneling in the corporate sector, as well as in hotels is driving the demand for saturating kraft paper. Countries such as India and China in the Asia Pacific region are expected to represent a significant share of the global saturating kraft paper market. According to the World Bank study, the organized furniture industry is expected to expand by approximately 20% every year, which subsequently further drives the saturating kraft paper market growth.
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Furthermore, saturating kraft paper market manufacturers across the globe are offering a variety of options to consumers for interior and exterior designing. Various companies in the saturating kraft paper market are offering low-pressure laminates and high-pressure laminates in a variety of basis weights. For Instance,
Rising Support from Governments for Construction Industry Has Positively Impacted Saturating Kraft Paper Market
The growing building & construction industry in emerging economies of Asia Pacific has led to the rise in demand for furniture industry, which in turn has created the demand for saturating kraft paper market in the region. In the Asia Pacific region, there has been substantial growth in the number of real estate and infrastructure development projects in the past few decades. The high rate of urbanization coupled with increasing population in the region has led to a strong demand for the furniture industry. All these factors account for the growing demand for saturating kraft paper in the foreseeable future.
Moreover, the government in the Middle East region has implemented opportunities, especially in GCC countries such as Saudi Arabia and the UAE by launching several mega construction projects to boost tourism under the PPP model, which positively impacted the saturating kraft paper market in the past few years.
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Strong Retail Sector Driving Saturating Kraft Paper Market
The Asia Pacific saturating kraft paper market faces lucrative opportunities for growth, as it is home to some of the world’s fastest-growing economies. For instance, the retail sector in India has witnessed increasing penetration of modern retail format, which is expected to play a significant role in boosting the saturating kraft paper market growth. Growth of developed countries such as Germany and the United States is supported by strong consumer confidence. This is also one of the prime factors, which enabled smooth passage through an unstable period in the saturated kraft paper market.
Top Players in Saturating Kraft Paper Market
The saturating kraft paper market is a fragmented market with the majority of its players operating regionally. Players such as WestRock Company, International Paper, Koktamills Oy, and Ahlstrom-Munksjö Oyj account for significant market share in the global saturating kraft paper market. Big players in the flexible packaging industry such as Mondi are trying to enter in the market by adopting inorganic strategies. Recently, Mondi entered into the saturating kraft paper market as a supplier by providing saturated kraft paper for various decorative and compact laminates in European nations. Some of the key players in the global saturating kraft paper market are WestRock Company, International Paper, Koktamills Oy, Ahlstrom-Munksjö Oyj, Nordic Paper, Fortune Paper Mills LLP, Pudumjee Paper Products, Venkraft Paper Mills Pvt. Ltd., Onyx Specialty Papers, Inc., Suyash Paper Mills Limited, and Shanghai Plastech Group Limited.