According to a recent report by FMI, the global paper core market was projected to reach a value of US$ 3.4 billion in 2022. It is expected to exhibit a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030. The market’s growth is attributed to the growing demand for paper cores across various industries, including paper and pulp, textiles, and construction.
Paper cores play a crucial role in the paper and pulp industry, where they are used to wind materials such as paper, pulp, and other related products. In the textile sector, paper cores are utilized for winding yarns, threads, and textiles. Additionally, the building industry relies on paper cores to wrap insulating materials.
The paper core market holds immense importance in the global supply chain and continues to experience steady growth. These cylindrical tubes, typically made of cardboard, paperboard, or similar materials, are utilized for wrapping paper, textiles, films, tapes, and more. The market’s expansion is primarily driven by the escalating demand for environmentally friendly and sustainable packaging solutions across multiple industries, including paper and pulp, textiles, and construction.
One of the key factors influencing the paper core market is the growing preference for sustainable and eco-friendly packaging options. As environmental concerns such as plastic waste and carbon emissions gain greater awareness, the adoption of eco-friendly packaging materials has surged. Paper cores present a recyclable, biodegradable, and reusable packaging choice that aligns with the principles of environmental friendliness and sustainability.
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From a regional perspective, North America leads the paper core market, followed by Europe and the Asia Pacific. The market’s growth in North America can be attributed to the increasing adoption of eco-friendly packaging solutions and the rising demand for paper and pulp products in the region.
In conclusion, the paper core market is a rapidly expanding industry fueled by the rising demand for sustainable and eco-friendly packaging solutions across diverse sectors. The market is characterized by strong competition, with several key players operating within the industry. Factors such as the growing demand for paper and pulp products and the increasing awareness of environmental issues are the primary drivers of the paper core market. The market is expected to continue its significant growth trajectory in the years ahead, driven by the adoption of eco-friendly packaging solutions and the surging demand for paper and pulp products.
Key Takeaways from Paper Core Market
The Asia-Pacific is witnessing maximum turbulence on the account of paper core market. This could be attributed to the textile industry getting extensively benefited through the usage of paperboard and paper packaging, thereby stating that more than 70% of the packaging material is made out of paperboard and paper. Also, with end-consumers vying for ‘value for money’, the paper core market is expected to scale new heights in the near future, as far as this region is concerned. As of now, China is at the first position regarding exports of apparel.
- Europe stands second with more than 20% of the market share.
- North America is expected to go steady with paper core in the forecast period.
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Competitive Landscape
Paper Core Market is a fragmented market. The top players account for 10-15% of market share in the global production while smaller players in the Tier 3 range account for 65-75% of total market share.
The key players operating in the market have strategic focus on acquisition and geographic expansion to gain competitive edge along with expanding their product portfolio to provide the customers with a wide range of products while smaller players focus on expansion by collaborating and merging with other players.
- Smurfit Kappa Group, in April 2020, did partner with KHS for launching the TopClip multipack solution to bundle canned beverages.
- Sonoco Products Company, in August 2020, did complete acquisition of Can Packaging for close to US$ 50 Mn with the objective of developing innovative (ultimately patented) technology to produce high-performance and recyclable all-paper package.
Key Players:
- Sonoco Products Company
- CPPC Public Co., Ltd
- Advanced Paper Tube, Inc.
- YAZOO MILLS Inc.
- Eerste Nederlandse Rondkartonnagefabriek B.V. (ENR)
- Smurfit Kappa Group
- Kunert Group
Region-wise Insights
Textile manufacturers in Europe and Asia are benefiting greatly from the use of paper and paperboard packaging, with over 70% of their packaging material being made from these materials. This has led to increased revenue and a growing demand for paper-based packaging products in North America, Europe, and Asia.
Paper core manufacturers are focusing on developing economies, particularly in the Asia-Pacific region, due to the growth in trade volume. Customers and end users in these regions prefer value for money, leading textile manufacturing companies to choose paper cores, especially those made from recyclable materials. Paper cores are being adopted by textile and ready-made garment manufacturers.
The Asia-Pacific region, especially APAC, is expected to have higher usage of paper cores due to their cost-effective nature. Paper cores are highly demanded in the Asian market, with countries like Bangladesh and China being major players in the global apparel export market.
In East Asia, there is high consumption of paper cores for paper and polyester packaging and decoration. This is due to their lightweight, unbreakable, and recyclable nature, along with excellent barrier properties against oxidation and temperature. The expansion of the paper and polyester industry in East Asia is expected to further drive the use of paper cores in the market
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Key Segments Covered in Paper Core Industry Research
Paper Core Market by Material Type:
- Kraft Board
- Virgin
- Recycled
- Paperboard
Paper Core Market by Diameter Type:
- 23 mm-76 mm
- 77 mm-152 mm
- 153 mm-229 mm
- 230 mm & above
Paper Core Market by Application:
- Paper & Polyester
- Winding & Rewinding
- Decoration & Specialty Paper
- Hygiene & Tissue Paper
- Printing & Coating
Paper Core Market by End-use:
- Paper & Polyester
- Electronic
- Textile
- Constructing
- Beverage Packaging
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