According to a recently published report by Fact.MR, market research and competitive intelligence provider, the stone paper market is anticipated to reach a valuation of US$ 757 Mn in 2021, and expand at an impressive CAGR of around 6% over the forecast period of 2021 to 2031.
The market is in the growth phase of its lifecycle, registering an annual growth of 4.1% during 2016 – 2020. Fact.MR anticipates significant potential in the market, owing to factors such as economic feasibility of stone paper over other categories and growing demand for phthalate-free stone paper owing to myriad benefits.
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Stone Paper Market Segmentation
- North America
- East Asia
- South Asia
- Latin America
- Middle East & Africa
- Stone Paper for Packaging & Decoration
- Stone Paper for Industrial Use
- Stone Paper for Printing
- Stone Paper for Marketing & Advertising
- Others (including Poster Display and Metro Advertising)
Key Takeaways from Market Study
- Worldwide stone paper business was valued at around US$ 718 Mn in 2020.
- The stone paper market is anticipated to grow 1.8X by 2031.
- Phthalate-free stone paper is gaining prominence across geographies.
- The printing industry is anticipated to create an incremental opportunity of US$ 15 Mn by 2031.
- The Asia Pacific region is set to dominate sales revenue in 2021, and is expected to dominate stone paper demand by 2031.
- Stone paper sales in North America are expected to rise significantly over the next ten years.
- Due to the COVID-19 crisis, demand for stone paper was hit in 2020, which saw a decline, but with the manufacturing sector back on track, demand is set to be normalized.
“High investments in R&D for the development of green products will aid market growth over the coming years,” says a Fact.MR analyst.
Majority companies discussed in the report have focused on expansion, investments, acquisitions, delivery focus, portfolio expansion, and brand development.
Some of the key developments are:
- In August 2019, TBM Co Ltd announced the launching of the Limex bag, which contains zero petroleum-derived resins. Additionally, Limex can act as a substitute for paper and plastic, thus reducing the use of petroleum-derived products.
- In 2016, Pishgaman Sanat sabz company (PSSCO) opened up a stone paper production facility in Yazd province of Iran that has an annual production capacity of 5,000 tons. The composition of the stone paper consists of calcium carbonate and HDPE.
- In 2020, Taiwan Lung Meng Advanced Composite Materials Co announced an investment of US$ 49.8 Mn in R&D to manufacture advanced green products such as cups, notebooks, and shopping bags.
Similarly, recent developments related to companies manufacturing stone paper have been tracked by the team at Fact.MR, which are available in the full research report.