The Business Research Company’s Paper Products Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, January 11, 2021 /EINPresswire.com/ — New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports
The paper products 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.
The global paper products market is expected to grow from $837.6 billion in 2020 to $885.6 billion in 2021 at a compound annual growth rate (CAGR) of 5%.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. Paper products market analysis expects the market to reach $1080.4 billion in 2025 at a CAGR of 5%.
The global paper products market is segmented by type into converted paper products, unfinished paper, pulp mills and by application into writing paper, magazine paper, packaging paper, sanitary paper, and other. Subsegments covered are paperboard container, paper bag and coated and treated paper, sanitary paper product, stationery products, all other converted paper products, paper and paperboard, newsprint.
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