By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The anticipated expansion of the Tracing Paper market in North America can be attributed to several key factors. Educational institutions and professional environments in North America commonly depend on tracing paper for instructional and professional needs. In 2022, the United States had a total of 826 public and 454 private 2-year higher education institutions. During the academic year 2022/23, approximately 20.3 million students were enrolled in undergraduate degree programs in the United States.
The continued reliance on tracing paper for tasks such as drafting, illustrating, and various design-related activities underscores the consistent demand for this essential tool.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: TRACING PAPER MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review
Europe's Tracing Paper Market accounts for the second-largest market share as the rising popularity of do-it-yourself (DIY) culture and craft engagements, wherein tracing paper is frequently employed for creating patterns and templates, is poised to boost consumer demand within the retail sector. Groupe Adeo, headquartered in France, stands as Europe's largest DIY retailer based on turnover, boasting an impressive annual revenue of 21 billion euros. ADEO, another significant player in the DIY sector primarily situated in France, leads as the top DIY group in terms of annual sales.
Notably, ADEO has witnessed a consistent year-over-year increase in turnover since 2009, achieving sales of 23.1 billion euros in 2018. Further, the German Tracing Paper Market held the largest market share, and the UK Tracing Paper Market was the fastest-growing market in the European region
The Asia-Pacific Tracing Paper Market is expected to grow at the fastest CAGR from 2023 to 2032.
As urbanization and infrastructure development rapidly progress in numerous Asia Pacific nations, there is a simultaneous increase in architectural and design undertakings. According to a TOI article, the real estate and architecture industry achieved a substantial value of approximately 1.72 billion dollars (Rs 12,000 crore) in 2019, with an anticipated growth to about 65,000 crores by the year 2040. Predictions indicate that by 2030, India's real estate and architectural sector will witness remarkable growth, expanding from $200 billion in 2021 to a staggering $1 trillion in 2030, constituting nearly 13% of the country's GDP.
Tracing paper assumes a pivotal role in the meticulous creation of drawings and plans for these expansive projects. Moreover, China’s Tracing Paper Market held the largest market share, and the Indian Tracing Paper Market was the fastest-growing market in the Asia-Pacific region.
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