According to Stratistics MRC, the Global Saturated Kraft Paper Market is accounted for $1.49 billion in 2021 and is expected to reach $2.85 billion by 2028 growing at a CAGR of 6.7% during the forecast period. Saturated kraft paper offers a barrier against moisture as is anti-moisture. It is a kind of specialty paper that is prepared from sawdust substantial and holds strength & numerous extra features. Saturated kraft paper has varied applications such as partition, flooring, shelving, and countertop. It has a low impact on the environment, as it can be recycled. This paper offers a range of benefits such as tear resistance, offer product consistency, high degree of porosity, eco-friendliness, stiffness, and others, which make it suitable for the building & construction industry.
Increasing Demand for Biodegradable Packaging
The acceptance of the demand for biodegradable packaging in an alternative to plastic is predictable to increase the market growth. Rising consciousness among ecologists and administrations about the dangers of using plastic is obliging them to attention to greener substitutes, which is favoring the acceptance of market growth. A steady rise in demand in the construction industry, owing to infrastructure projects, has contributed to the increase in the use of sack kraft paper. For instance, in Canada, Plastic is polluting rivers, lakes, and oceans, harming wildlife, and generating microplastics in the water. Every year, Canadians throw away million of tons of plastic waste, only a few of which is being recycled, meaning the vast majority of plastic ends up in landfills, and about a ton finds its way into the natural environment.
High Cost of Raw Material
Due to the increasing costs of the raw materials which in turn have lifted the cost of manufacturing as kraft paper is produced on paper machines with moderate machine speeds which increase their price and the trade limitations forced by the governments around the globe are a few of the factors hindering the growth of the market in the coming years.
Increasing Preference for Laminate Flooring in Furniture Industry
Growing consumer preference for interior design and changing lifestyles. Construction spending is expected to rise in both developed and developing countries, which creates growth opportunities for the market manufacturers. Plywood surfaces are finished with decorative laminates by manufacturers. Laminates come in a range of textures, comprising stone, marble, abstract, and a variety of other custom prints. The increased use of modern interiors is likely to boost the demand for laminate flooring which will help to expand the market. Key players engaged in manufacturing saturated kraft paper focuses on providing customized saturated kraft paper for laminate floorings. Consumers can choose from a variety of design options provided by laminate manufacturers. Compared to ceramics and other woody materials, laminate flooring is a more cost-effective option for flooring. It is considered a suitable, popular, and trending flooring option in the world.