Major companies in the unfinished paper market include Nippon Paper Industries Co Ltd; Stora Enso Oyj; Shandong Chenming Paper Holdings Limited; Oji Holdings and Mondi Group. The global unfinished paper market is expected to grow from $295.
New York, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Unfinished Paper Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06025303/?utm_source=GNW
39 billion in 2020 to $312.35 billion in 2021 at a compound annual growth rate (CAGR) of 5.7%. 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 $367.7 billion in 2025 at a CAGR of 4%.
The unfinished paper market consists of sales of unfinished paper by entities (organizations, sole traders and partnerships) that produce unfinished paper from pulp that is either purchased or produced by them. The unfinished paper manufacturing industry includes the following: paper mills that may also further convert the produced paper, newsprint mills including manufacturing newsprint and uncoated ground wood paper from pulp. These mills may also involve converting the paper. The unfinished paper market is segmented into paper and paperboard and newsprint.
Asia Pacific was the largest region in the global unfinished paper market, accounting for 35% of the market in 2020. North America was the second largest region accounting for 26% of the global unfinished paper market. Africa was the smallest region in the global unfinished paper market.
Manufacturing in paper mills is getting faster and leaner with the adoption of sensor and wireless technologies. Sensors are generating insights for improving process efficiencies and reducing potential breakdowns. Wireless technology is aiding the implementation of sensor technology in manufacturing units. For instance, sensors are being used to detect wear and tear of machinery and defects in goods. Some of the companies offering sensor technology to paper industries include SENSIT, Baumer and Hansford sensors.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the unfinished paper 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 unfinished paper 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.
The unfinished paper 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.
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