MARKET ANALYSIS
Stone Paper, also known as bio-plastic paper or mineral paper, is made up of calcium carbonate bonded with polyethylene resins. The resistance to flame and durability are the main advantages of stone paper. Owing to its high durability, stone paper finds its application in creating charts, maps, manuals, notebooks, and waterproof journals. Further, stone paper is eco-friendly, which helps in declining industrial waste and enhances consumer satisfaction. Surging demands for products from segments such as labeling, packaging, and self-adhesive paper are anticipated to propel the market growth.
GROWTH DRIVERS AND CHALLENGES
Stone Paper Market is forecasted to grow significantly due to its eco-friendly and energy-saving nature. Rising concern related to the usage of plastics is driving the market's growth. Compared to its plastic alternatives, stone paper is excessively durable. In addition, technological advancement has eased the process of production of stone paper. The growth in the e-commerce sector leads to a rise in demand for the packaging sector, further escalating the market's growth. However, compared to traditional paper, the costs of stone paper are a bit high, which may restraint the market's growth. Limestone is the basic raw material in manufacturing stone paper, which is non-renewable and thus can't be restored. Further, synthetic resin, which is used in manufacturing stone paper, is made up of petroleum, which is also non-renewable. These factors collectively are anticipated to hamper the stone paper market's growth.
REPORT SEGMENTATION AND SCOPE
The "Global Stone Paper Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed market segmentation by application and geography. The global stone paper market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of stone paper worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the stone paper market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the stone paper market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global stone paper market, which helps understand the entire supply chain and various factors affecting the market growth.
SEGMENTAL ANALYSIS
The global stone paper market is segmented on the basis of application. Based on application, the stone paper market is segmented into packaging, industrial, printing, marketing and advertising, and others.
Based on the application, the packaging type witnesses substantial growth in the forecasted time frame owing to the large application of stone paper in the food and beverage industry for labeling, tabs, and packaging. Mold-resistance, tear-resistance, and grease-resistance are some of the characteristics of stone paper, which makes it more environment-friendly and hence augments the growth of the market. The aesthetic characteristics and high sustainability further make it a good choice for the food industry and therefore propel the market growth. Stone Paper is the best choice for FDA-approved food packaging. The low cost, coupled with the high sustainability of stone paper, increases its demand which fuels the market’s growth. The benefits of both regular plastic and paper are combined in the stone paper, which surges the demand for stone paper and escalates the growth of the stone paper market.
REGIONAL ANALYSIS
The report provides a detailed overview of the global stone paper market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. North America is anticipated to dominate the stone paper market in the predicted timeframe due to the major distribution network, technological advancements in paper technology, and assistance from the government. Further, the demand for quality packaging and labeling materials in the US is increasing, which leads to the rising demand for stone paper. Further, the widely modern packaging sector in the US escalates the market growth in the region.
Asia Pacific is predicted to grow at the fastest rate in the forecasted timeframe, attributed to its low environmental impact because of its help in minimal water usage and carbon dioxide emissions. Governments in the Asia Pacific countries have taken measures to reduce the plastic use. Prohibitions on plastic in China and Southeast Asian countries are predicted to fuel the demand for stone paper. Further, the enacted rules on food-contact materials escalated the growth of the stone paper market.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnership, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global stone paper market.
On 3 April 2021, Karst Stone Paper introduced products from recycled stone free of acids and bleaches. Karst Stone Paper was designed as an alternative to wood pulp paper that was more sustainable, durable, and comparatively smoother to scribble and write on.
In August 2019, TBM Co., Ltd. introduced LIMEX Bag at the G20 Innovation Exhibition. It is a product that contains zero petroleum. LIMEX can substitute paper with the consumption of water and wood pulp. It can also substitute plastic and reduce petroleum-derived raw materials.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
Since 2019, Covid-19 has spread worldwide to a large extent. Due to the coronavirus crisis, paper and packaging manufacturers are going to face a decline in demand. This decline will lead to financial hardship for businesses, customers, and communities. The current timeframe of uncertainty in the economy is expected to decrease customer appetite for products which will disruptively affect the revenue and production of the stone paper market. To overcome such uncertainties in business, paper manufacturers must update their long-term and near-term forecasts. Due to inflationary pressures, the future of the packaging industry remains uncertain. Persistent geopolitical, pandemic, and financial obstacles cumulatively impacted the industry. Many businesses are compelled to minimize unnecessary spending and look for ways to increase their profits in a recession. To reduce upfront costs, it can be tempting for a brand to look for “one-size-fits-all” packaging solutions to reduce upfront costs. The bottom line of a brand will suffer more due to this strategy. However, after creating damage to the supply chain of the market and demand orders in the first half of the pandemic, the market surged greatly in the second half. The high demand for paper, comprising stone paper for sustainable packaging, resulted in inverted dynamics. The applications of stone paper in labeling papers, packaging papers and the fast growth of the adhesive industry augment the growth of the stone paper market.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the stone paper market include, The Stone Paper Company, Karst Stone Paper, Taiwan Lung Meng Technology Co., Ltd., AM Packaging Company Limited, Forge and Smith, Sphera International, Anydesign srl, WestRock Company, Armen Paper, Agood Company, Shenzhen Stone Paper, KJ Pack, CADICAGROUP, TBM Co., Ltd., and Gaia-concept BV, among others.