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(Medical-NewsWire.com, June 29, 2020 ) Market Overview
• The Global Paper Core Market is expected to grow at a CAGR during the forecasting period (2020-2027).
• Paper core is the strong cardboard tubes or cylinders used as a sturdy base to wind materials for storage or distribution in various industries such as fabric, adhesive, electrical, paper industries. Paper cone can be made from thicker or thinner cardboard depending upon the industrial use. It is widely used for winding and rewinding of the products such as aluminum foil packaging, polyester film, kraft paper, duplex paper, textiles and others.
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• The global paper core market is driven by the rising demand of paper core in various industries such as textile, paper mills, adhesive tapes, polyester film and others due to their characteristics such as recyclable, reusable, and environmental friendly.
• High growth in the beverage industry shall have a positive impact on the market as the paper core is widely used for packaging alcoholic and non-alcoholic beverages. Moreover, the paper core manufacturers are shifting their focusing on recyclable paper and sustainable production due to the various government restrictions imposed by the regulatory bodies such as the United States Environmental Protection Agency, U.S. Food and Drug Administration (FDA), and others. The companies are following the stringent quality control procedures with sophisticated testing equipment to deliver products of consistent quality and at most competitive prices.
• Market players are also providing the options to the industrial for customizing the paper core as per their requirements. It is further stimulating market growth. For instance, Konfida manufactures synthetic yarn, fabric, flexible packaging, non-woven, paper & board and hygienic paper. It provides customized paper core solutions to industrial manufacturers.
• However, the availability of smaller & lighter packages and usage of other substitutes in place of the paper core such as plastic cores could have a negative impact on the market.
Market Segment Analysis
• Global paper core market is segmented based on thickness as less than 8mm, 8-16mm, 16-20mm, 20mm and above. 20mm and above paper core segment accounts for the significant market due to an increase in the demand for using paper core in the winding of 20mm and above in packaging papers, hygiene papers, laminated papers, coated and impregnated papers, decoration and technical papers, carpet and textile fabrics.
• 16-20mm paper core segment shall have positive market growth due to the rising demand of paper core of 16-20mm in for winding foils, films and flexible packaging materials for industrial and consumer packaging. The majority of players are producing products of thickness 16-20mm.
• Further, the market is also classified on the basis of application into beverage packaging, paper industry, textile, adhesive tapes, metal industry, foil industry, construction, and others. Beverage packaging accounts for the highest market share due to growing advancement and rising investment in the research and development activities. Changing consumers’ preferences is also fueling the market demand.
• Paper core is widely used in the paper industry for packaging papers, printing and writing papers, hygienic papers, recycled and corrugated board raw papers and for all paper converting operations. According to IBISWorld Industry Report, the revenue of paper mills was USD 43.8 billion in 2017. Over the forecasted period expected to increase and this would have a positive impact on the market. There is high consumption of aluminum foils in the households and industries for packaging foods.
Market Geographical Analysis
• By region, the global paper core market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East and Africa. Among all of the regions, Europe accounts for the highest market share due to the rising demand of paper core in the food and beverage industry. Rising e-commerce platforms in the food industry also boost the paper core market size.
• According to the Association of Corrosion Engineers (NACE), the food and beverage services sector generated EUR 143.2 billion of value-added. Paper core is widely used in textile and non-woven. According to the Confederation of European Paper Industries (CEPI), approximately 92.2 million tonnes of paper and board are produced in Europe in 2017. There is a rise in the number of paper exports to other countries. The United Kingdom, Germany, and France account for the significant market share in the European Countries.
• Asia is expected to be the fastest-growing market due to increasing industrial expansion with rising urbanization, technological advancements, economic growth, high consumption of food and beverage products and transportation. The packaging industry is witnessing high growth owing to the high usage of fast-moving consumer goods. According to the PMMI, Association for Packaging and Processing Technologies, the packaging industry has a market size of 1,431.5 billion units sold in 2018. There is a shift in focus towards eco-friendly and sustainability packaging due to the growing demand for large and small packages with rising travel or outdoor activities.
• The global paper core market is fragmented with the presence of several local and international players. The product diversification and opportunities for market growth through new product launches intensify the competition among companies. Kunert Group, Smurfit Kappa, Sonoco Alcore, Thanh Cong Paper Tube Co., Ltd, Phu Tung Paper Trading and Manufacturing Co., Ltd are the leading market players with the prominent market share.
• New market players are entering the market as this industry requires low investment with high volume production. Manufacturers can easily achieve its break-even at the early stage of the business cycle as the investment and operating cost is low in comparison to the other industries.
• The companies are entering into the collaborations, mergers, strategic partnerships and acquisitions to increase the demand for Paper Core and their expansion across the globe. For instance, in February 2019, VPK Packaging Group acquired Corenso’s European and Chinese businesses of coreboard and tube including two coreboard mills and 13 core converting plants. This acquisition would broaden the geographical spread to regions where VPK is not active. Important new markets are Finland, Spain, and China. It would help VPK to meet global demand. In August 2019, Ox Industries had acquired Arlington. This acquisition enables the Ox Industries to broadens its offering in the Dallas area by expanding its protective packaging and tube and core capacity.
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