Paper Products Global Market Report 2021: COVID 19 Impact and Recovery to 2030
Major companies in the plastics product market include Georgia-Pacific Corporation; International Paper Company; Kimberly Clark Corporation; Tetra Laval Group and Svenska Cellulosa Aktiebolaget.
New York, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Paper Products Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06009746/?utm_source=GNW
The global paper products market is expected to grow from $837.46 billion in 2020 to $885.66 billion in 2021 at a compound annual growth rate (CAGR) of 5.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1080.64 billion in 2025 at a CAGR of 5%.
The plastics product market consists of sales of plastics products by entities (organizations, sole traders and partnerships) that produce plastics products. The companies in this industry produce packaging materials, film and sheet, foam products, plastic bottles and all other plastic products which have domestic and industrial applications. These companies use polymers and resins as raw materials which are primarily sourced from polymer suppliers and processes used in plastic products manufacturing include compression molding, extrusion molding, injection molding, blow molding and casting. The plastics product market is segmented into converted paper products; unfinished paper and pulp mills.
Asia Pacific was the largest region in the global paper products market, accounting for 35% of the market in 2020. North America was the second largest region accounting for 26% of the global paper products market. Africa was the smallest region in the global paper products market.
The paper industry has been shifting from labor intensive manufacturing processes to automated production facilities. Automation has enabled paper product companies to enhance productivity and reduce production costs. These technologies are also saving energy cost. Control systems such as integrated drive systems (IDS) are improving plant efficiency by minimizing energy consumption and simplifying service and maintenance processes. For instance, Swedish company Stora Enso partnered with Siemens to automate its Skoghall facility.
Coronavirus Pandemic - The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the paper products manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in halting of manufacturing activities and a decline in economic activity with countries entering a state of ’lock down’ and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the paper products manufacturing market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Faster Economic Growth - The paper products manufacturing market is expected to benefit from steady economic growth forecasted for many developed and developing countries. The International Monetary Fund (IMF) predicts that the global GDP growth will be 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a decline in the historic period is further expected to be a significant factor driving economic growth. The US economy is expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Greater economic growth is likely to drive public and private investments, joint ventures, foreign direct investments in the end-user markets, thereby driving the market during forecast period.
Read the full report: https://www.reportlinker.com/p06009746/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001