ID: MRFR/CO/0869-HCR | 115 Pages | Published By Varsha More on March 2023
Stone Paper Market is projected to be worth USD 867.2 Million by 2030, registering a CAGR of 7.20% during the forecast period (2022 - 2030).
The stone-paper Market size is projected to reach approximately USD 867.2 Million by 2030, at a CAGR of 7.20% from 2022 to 2030.
Stone paper is mainly made of recycled materials and a polyethylene-based binder. As a result, it is a less harmful product for the environment. Other advantages of the stone paper include its durability and resistance to flame. Due to its exceptional durability, stone paper is used to create maps, charts, field notebooks, manuals, and waterproof journals. The market is projected to rise during the review period owing to e-commerce and organized retail growth. A growing number of research activities and investments in improving manufacturing techniques are also expected to drive the Stone-Paper Market growth. Due to the rising demand for some papers from the packaging and labeling industries, the stone paper market is expected to provide significant opportunities. It is possible that the worldwide mining market could suffer from restraints due to the strict regulations the governments maintain concerning various mining activities worldwide. The financial statements might pose challenges for the market players. In addition, advances in papermaking technology, sustainable alternatives, and advanced production processes contribute to market revenue growth. For instance, Saikal enterprise, located in Fergana, Uzbekistan, built a unique production facility on 19 February 2021 that increased stone paper production capacity to 9,000 tonnes.
COVID-19 Impact Analysis
Since the outbreak of the pandemic COVID 19, packaging and paper manufacturers expect a decline in demand, which will lead to economic hardship for customers, businesses, and communities. Due to the ongoing economic crisis, consumers' appetite for products is expected to decrease, which may negatively impact stone paper revenue generation and production in the future.
Stone-Paper Market Dynamics
There is a significant demand for stone paper from the paper packaging industry, primarily due to its sustainability and aesthetic quality. The pandemic caused a temporary halt in manufacturing across many countries, disrupting the supply chain of products. Further, manufacturers struggled to follow the social distancing norms regarding operations, resulting in more disruptions and slowdowns. Since consumer lifestyles changed during the pandemic, the stone paper was in high demand due to the massive demand for personal care, hygiene, and food packaging. However, supply chain disruptions adversely affected the market for stone paper as raw materials were in short supply across the globe.
It is possible to overcome the problem of deforestation facing the world by using stone paper instead of conventional paper. Because stone paper is not made from fibers, it does not cut down trees in the manufacturing process. It is made from calcium carbonate, rocks, marble, resin, or others. In conventional paper manufacturing, around four metric tons of wood chips are required from around 23 large trees to manufacture one metric ton. Over the past few decades, conventional paper consumption across the globe has increased by 400%, which has created a need for an alternative papermaking process. A third of the wood harvested is used as raw material in conventional paper, and most of it is harvested from monoculture plantations, which raises ecological concerns as well. Compared to conventional papermaking, stone paper requires no water, acid, chemicals, or bleach, lowering production costs by 40%.
Despite the increasing demand for stone papers worldwide, they are more expensive than traditional papers, limiting market revenue growth. Stone papers are more durable and expensive than traditional paper, leading customers to opt for cheaper alternatives, such as bagasse. A wide variety of commercial products are manufactured from sugarcane residue after juice extraction, including newspapers, printing papers, tissues, packaging boxes, and so on. Moreover, limestone is one of the main components of stone paper, which can be found abundantly on the planet's crust, but it is not renewable and cannot be replenished once it has been exhausted. A synthetic resin used in manufacturing stone papers is derived from petroleum, which is not renewable and requires about three tons of petroleum to synthesize one ton of resin. The market revenue growth is expected to be restricted by these factors.
Government support, coupled with economies of density, is a prime reason for the growing popularity of stone paper manufacturing. At present, Iran produces thousands of tons of stone paper each year. Further, in Germany, by FY2031, the market is expected to expand 1.6X its current market valuation because government policies on non-environmental products are expected to accelerate the growth of the stone paper business.
Product Type Insights
Based on product type, the stone-paper market segmentation is rich mineral board double-coated (RBD) and rich mineral paper double-coated (RPD). The rich mineral paper double coated (RPD) segment held a major share in 2021. The paper is used to make notebooks, envelopes, paper bags, notepads, and other products for military operations, underwater operations, and undercover operations. As paper technology improves, market competition increases, and stone paper becomes more widely used, its cost is expected to drop by 20-30%, making it much less expensive than alternative paper goods. During the Stone-Paper Market forecast period, the rich mineral board double-coated (RBD) segment is projected to grow steadily due to its thickness ranging from 250 to 400 micrometers, making it a suitable material for making calendars, leaflets, brochures, gift boxes, and painting albums.
Material Type Insights
Based on the material type, the stone-paper market segmentation is calcium carbonate, high-density polyethylene (HDPE), and others. The calcium carbonate segment had a prominent share in 2021. The mineral calcium carbonate powder is used in the manufacture of stone paper. It makes stone paper brighter and opaque. In addition, calcium carbonate powder doesn't have grain, so writing is smoother. It is also photodegradable and decomposes within a few months of exposure.
Based on application, the stone-paper market is divided into packaging, labels & tags, self-adhesive, and others. The packaging segment had a prominent share in 2021. Stone paper is widely used in the food and beverage industry for packaging, labels, and tags. It is environment friendly along with a unique formulation that makes it tear-resistant, grease-resistant, mold-resistant, and insect-proof, among other characteristics. Due to its long-term sustainability, flame-resistant properties, and aesthetic qualities, food manufacturers are increasingly choosing it.
Global Stone-Paper Market Share by Region, 2021 (%)
Stone-Paper Market Overview By Region
By region, the stone-paper market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the most extensive market share. Asia-Pacific is expected to exhibit the highest CAGR during the forecast period.
As per the Stone-Paper Market report, North America accounted for the most extensive market share in 2021. Increasing advancements in paper technology and the development of stone paper manufacturing industries, an established distribution channel, and support from government and environmental organizations within the region have contributed to the growth of stone paper. Moreover, the growing demand for visually appealing packaging and labeling materials supports stone paper demand. A highly modern packaging sector in the U.S. should boost stone paper demand in the U.S., and producers such as International Paper and Ball Corporation are likely to support the stone-paper-market growth by increasing demand for stone paper in packaging.
Asia-Pacific was anticipated to encounter the fastest growth rate in 2021. Stone paper has a low environmental impact due to the growing demand for more sustainable packaging and labeling. It significantly reduces water usage and tree cutting, resulting in lower carbon emissions. Further, Shenzhen Stone Paper Enterprise Ltd., Changzhou Ji Li Paper Industry Co Ltd., and other major companies in this region are contributing to market growth. As Asia Pacific region stationery, posters, bags, calendars, books, magazines, wallpaper, and containers become more prevalent, the market is expected to grow further.
Stone-Paper Market Competitive Landscape
As per the Stone-Paper Market research, the market includes tier-1, tier-2, and local players. As key companies expand their product portfolios and gain a strong share in the market, they engage in product development and strategic alliances. For instance, LIMEX Pellet was published in the media as a sustainable product for cosmetic packaging in December 2021 as part of the "Beauty Packaging" segment. A KEMAS-developed material called Limex Pellet (injection molding grade) is a highly recyclable and environmentally friendly material capable of reducing greenhouse gas emissions and conserving natural resources at risk of depletion. Karst Stone Paper introduced a new line of recycled stone paper in April 2021, free of bleaches and acids. A wood-pulp alternative was redesigned into a paper that was more durable, sustainable, and smoother to write, scribble, doodle, or draw on than wood-pulp paper.
Prominent players in the stone-paper market include Karst Stone Paper, Taiwan Lung Meng Technology Co., Ltd.,Shenzhen Stone Paper, Good Company, Forge and Smith, Sphera International, Anydesign srl, Armen Paper, WestRock Company, AM Packaging Company Limited, among others.
Scope of the Stone-Paper Market Report
Product Type Outlook
Material Type Outlook
Distribution Channel Outlook
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Stone-Paper Market Forecast:
To identify and estimate the Stone-Paper Market size for the market segmented by product type, material type, application, and distribution channel by value (in U.S. dollars). Also, to understand the consumption/ demand created by consumers of stone paper between 2022 and 2030
Market Landscape and Trends:
To identify and infer the drivers, restraints, opportunities, and challenges for the market
Market Influencing Factors:
To find out the factors which are affecting the sales of stone paper among consumers
Impact of COVID-19:
To identify and understand the various factors involved in the market affected by the pandemic
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
|Market Size||2030: USD 867.2 Million|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Material Type, Application, and Distribution Channel|
|Geographies Covered||North America, Europe, Asia-Pacific, and the Rest of the World (RoW)|
|Key Vendors||Karst Stone Paper, Shenzhen Stone Paper, Agood Company, AM Packaging Company Limited, Taiwan Lung Meng Technology Co., Ltd., Forge and Smith, Anydesign srl, Armen Paper, Sphera International, and WestRock Company|
|Key Market Opportunities||Increased demand from developing and developed market|
|Key Market Drivers||A growing number of research activities and investments|
The study period of the market is 2022 - 2030
The market is growing at a CAGR of 7.20% over the next 10 years.
Asia-Pacific is expected to register the highest CAGR during 2022 - 2030
North America held the largest share in 2021
Karst Stone Paper, Taiwan Lung Meng Technology Co., Ltd., Shenzhen Stone Paper, Agood Company, and WestRock Company are the major companies operating in the market.