(I-BusinessNews.Com, April 24, 2021 ) Lightweight Coated Papers Market size is forecast to reach $6.2 billion by 2026, after growing at a CAGR of 3.11% during 2021-2026. The demand for this market is rising due to the increasing usage of light weight coated papers such as gloss lightweight coated paper, dull-coated paper, and cast-coated paper in various applications such as magazines, brochure, catalogues, and more. Light Weight Coated Papers are mechanical papers coated with clay or similar substance and are used for printing. The rapid growth of the magazine and books industry has increased the demand for lightweight coated papers; thereby, fueling market growth. Furthermore, the flourishing packaging industry is also expected to drive the lightweight coated papers industry substantially during the forecast period.
COVID-19 Impact
The COVID-19 pandemic is affecting the operations of various industries including packaging and magazines, as most of the countries have issued “stay at home guidance” i.e., lockdown. As light weight coated papers are extensively used in these industries, the declining operation of these industries is directly limiting the light weight coated papers market growth during the pandemic. Thus, with the decrease in packaging and magazine production, the demand for light weight coated papers such as gloss light weight coated paper, dull-coated paper, and cast-coated paper has significantly fallen, which is having a major impact on the light weight coated papers market during the pandemic.
Light Weight Coated Papers Market Segment Analysis – By Application
The packaging segment held the largest share in the light weight coated papers market in 2020 and is expected to grow at a CAGR of 4.05% during 2021-2016. Lightweight coated (LWC) paper is made from mechanical pulp. The mechanical pulping process uses logs or wood chips to mechanically separate the wood fibers which are used to make paper. These lightweight papers are coated with grounded calcium carbonate and typically weigh between 36-70 gsm for the standard brightness but can be 57-90 gsm for higher gloss and whiteness which leads to higher brightness and more vibrant colour packaging. LWC papers are typically used is packaging applications such as folding cartons, beverage carriers, book and report covers, mailing tubes, video cassette boxes, and more, which is the major factor driving the demand of light weight coated papers in the packaging industry during the forecast period.
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Light Weight Coated Papers Market Segment Analysis – By Geography
Asia-Pacific region held the largest share in the light weight coated papers market in 2020 up to 32% and is expected to grow at a CAGR of 3.6% during 2021-2026, owing to the increasing demand for light weight coated papers such as gloss light weight coated paper, dull-coated paper, and cast-coated paper from the advertising and food packaging industry in the region. According to India Brand Equity Foundation (IBEF), India’s advertising revenue is projected to reach Rs. 789 billion (US$ 10.81 billion) in FY22 from Rs. 726 billion (US$ 9.94 billion) in FY20. India’s advertising revenue is forecast to expand at a CAGR of 4.3% between FY20 and FY22. In FY20, print platforms stood at Rs. 306 billion (US$ 4.19 billion). According to the Ministry of Industry and Information Technology (MIIT), retail sales of grain, oil and food reached 499.63 billion yuan (about $70.41 billion), up 13.8 percent from last year in China. During the period, beverage sales stood at 63.46 billion yuan in China, a 6.3-percent growth year-on-year. With the increasing retail sale the demand for packaging materials will also see an upsurge in its demand. The increasing population and rapid urbanization in these countries is enhancing the demand for advertising through newspapers & magazines, and food retail thereby, accelerating the growth of the light weight coated papers market in the Asia Pacific during the forecast period.
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Light Weight Coated Papers Market Drivers
Increasing Demand for Light Weight Coated Papers
Light weight coated papers such as gloss light weight coated paper, dull-coated paper, cast-coated paper are extensively used in the production of magazines, catalogues, direct mails, flyers and many more. These papers are extensively used in these applications as they are smooth as well as shiny and absorb less ink on the paper. According to the International Trade Centre (ITC), the world export value of lightweight coated paper used for writing, printing or other graphic purposes increased from USD 2,830,240 Thousand in 2017 to USD 2,843,285 Thousand in 2019. This increase in the export value can be attributed to the increasing demand for magazines, packaging, and books in various regions. And there is an increasing demand for such commodities owing to the increasing population, urbanizations, and per capita income of individuals. According to the United States department of Agriculture (USDA), in 2018, the total value of all retail food and beverage sales in Japan was $479.29 billion (Â¥53,339 billion), an overall increase of 2.3 percent. Thus, increasing magazines, packaging, and books production will require more light weight coated papers, thus it acts as a driver for the light weight coated papers market during the forecast period.
Light Weight Coated Papers Market Challenges
Shifting Trend Towards Digitalization
Printing markets is changing; many publishing companies have shifted towards electronic versions and replaced previously printed volumes. E-books, on-line newspapers and magazines are taking significant sections of their respective markets; while directories, catalogs and brochures have electronic alternatives; more transactions are electronic reducing demand for currency and cheques; and advertising spend is moving into new areas including on-line. These factors, alongside the continued growth of social networking, result in declining volumes of many print products such as magazines, catalogues, books, and more. These factors are hampering light weight coated paper market growth.
Light Weight Coated Papers Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the light weight coated papers market. Major players in the light weight coated papers market are Svenska Cellulosa Aktiebolaget SCA, UPM -Kymmene Oyj, Stora Enso, Norske Skogindustrier ASA, Nippon Paper, Resolute Forest Products, Evergreen Packaging, Burgo Group, Cheng Loong Corp., AEC GROUP, and Sumpap India.
Key Takeaways
Asia-Pacific dominates the light weight coated papers market, owing to the increasing demand of commercial printing in the region. The rising population and increasing urbanization in APAC is the major factor driving the demand for commercial printing.
Coated paper products are extensively processed along with plastics, latex, clay, and other materials to augment longevity and aesthetic appearance, and improve recyclability, which is projected to increase market growth.
Due to the Covid-19 pandemic, most of the countries have gone under lockdown, due to which the demand for magazines and catalogues have decreased, which is hampering the light weight coated papers market growth.
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