Paper Pigments Market Trends

Growth Drivers

• Increased Production of Packaging Paper Across the World – The adoption of paper packaging across various industries such as food & beverages, bakery, confectionery, personal care & cosmetics, and others, are expected to boost the demand for paper pigments. It was estimated that the production value of global packaging paper and board was around 257,000 metric tons in 2018, up from 236,000 metric tons in 2016.

• Recent Demand for Printing and Writing Paper with Increasing Institutions – Lately, it was estimated that the global consumption of printing and writing paper was approximately 90 million tons in 2021.

• Soaring Expenditure on Chemical Industry Owing to Rising Use of Dyes – The capital expenditure on the global chemical industry is projected to be USD 239 billion in 2023. This is a significant rise from USD 220 billion in 2020.

• High Investment in Research and Development Activities – World Bank revealed the statistics of the expenditure made in the research and development sector in 2020 amounted to 2.63% of the total GDP globally. This was a rise from 2.14% of the total GDP in 2016.

Challenges

• Environmental Concerns Regarding Paper Recycling - The paper is made from wood pulp which increases deforestation and the loss of many plants. To reduce this government has passed regulations to decrease the use of paper in the industries and packaging sectors. The extreme cutting of trees can cause global warming across the world hampering the market growth during the forecast period.
• Stringent Government Rules to Protect Plants and Prevent Deforestation
• Growing Digitization of the World