NEWARK, Del, July 31, 2024 (GLOBE NEWSWIRE) -- The paper core market is likely to cross a valuation of USD 3.3 billion in 2024. The sales of paper core are predicted to witness a moderate CAGR of 2.2% through 2034. The industry is projected to surpass USD 4.1 billion by 2034.
The paper core industry experiences steady demand owing to its crucial role in various sectors like packaging, textiles, and construction. The growing eCommerce industry fuels the demand for paper cores used in packaging materials, such as cardboard tubes for shipping and mailing. Additionally, the increasing emphasis on sustainable packaging solutions drives the adoption of paper cores made from recycled materials, aligning with eco-friendly initiatives.
Moreover, the versatility of paper cores in supporting various applications, from wrapping papers to fabrics, contributes to sustained market growth.
Despite its utility, the paper core industry faces challenges such as fluctuations in raw material prices, particularly for paper and cardboard. Volatile prices can affect production costs, impacting profit margins for manufacturers. Moreover, the industry may encounter competition from alternative materials like plastic and metal cores, which offer different properties and may be preferred in certain applications.
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Furthermore, economic downturns and disruptions in supply chains can adversely affect the paper core market, leading to decreased demand and production slowdowns.
The rising awareness of environmental sustainability prompts companies to invest in eco-friendly paper core solutions, creating a niche market for biodegradable and recyclable cores. Recent trends in the paper core industry include the adoption of advanced technologies for manufacturing, such as precision cutting and custom sizing capabilities. These advancements enable manufacturers to cater to specific customer requirements and offer tailored solutions. Additionally, there is a growing trend towards customization and personalization in packaging, driving the demand for uniquely designed paper cores.
What are the major Catalysts to the Paper Core Market?
“High Strength and Cost-effectiveness to Catalyze”
Manufacturers prefer cost-effective packaging solutions that ensure that their products reach the market safely. Paper Core packaging materials have the mechanical capacity to protect the items wrapped inside them from any physical damage. Paper Core are stronger and less prone to environmental effects as compared to the other materials like plastic.
They can resist the adverse effects of excess heat or cold caused by temperature variations. This means that companies can use them in both - winter and summer seasons. They are available in different shapes, sizes and designs, which means that they are capable of wrapping items of varying shapes and sizes.
Paper Core can also be used in situations where a customer orders an item based on his specifications as it is prepared by adding sodium silicate or modified starch hitherto used as adhesive. This not only gives excellent crushing strength to paper core but also consumes lesser adhesives, thereby hence making it a right choice for the customers.
How about the adoption of Fiber-based Packaging Products?
“Textile & Yarn Industry to Benefit”
This emphasizes the use of bio-degradable packaging materials among multinational textile and yarn manufacturers. The companies associate with multi-stakeholders (Environmental Defence Fund, WWF, etc.) with an aim to lessen the environmental impact.
Such international regulatory bodies recommend essential changes in packaging materials, thus emphasizing on use of paper and paper-based packaging products such as corrugated boxes, paper tubes, Paper Core, folding cartons, bags & sacks, etc. Moreover, use of paper and paper-based packaging products reduces environmental hazards as well as the overall packaging cost leading to adoption of Paper Core.
“The paper core industry has opportunities for expansion, especially in emerging markets where there is increasing demand for packaging solutions. Innovations in paper core manufacturing processes, such as automation and digitalization, present opportunities for improving efficiency and reducing production costs.” says a Lead Consultant Ismail Sutaria in Packaging at Future Market Insights (FMI).
Key Takeaways from the Market Study:
- Dog hostels are expected to maintain dominance, projected to capture a market share of 47.6% in 2024.
- Online booking platforms are poised to lead the market with an estimated share of 44.6% in 2024.
- The United States' pet hotel industry is forecasted to grow at a CAGR of 4.5% through 2034.
- The pet hotel sector in the United Kingdom is anticipated to experience growth at a rate of 8.0% through 2034.
- China's pet hotel industry is predicted to see expansion with a CAGR of 9.4% through 2034.
- Japan's pet hotel industry is expected to exhibit growth at a CAGR of 10.8% through 2034.
- Germany's pet hotel market is projected to increase at a CAGR of 5.3% through 2034.
What are the restraints to the Paper Core Market?
“Adverse Impact of Deforestation and Emission of Gases to Restrain”
Emission of gases from paper-based packaging production units has an adverse impact on the environment. Companies operating in the markets of Europe and North America have faced legislative pressure from international environment organizations like WWF working on reduction of human impact on the environment.
It has restricted the process of production, thus impacting international & national trade, resulting into the loss of revenue for companies. Increase in consumption of paper leads to endangerment of natural habitats. More than 14 million trees are cut down yearly in North America for manufacturing paper, and around 100 square kilometres of forests are destroyed annually. This results in endangerment of some species.
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Competitive Landscape:
In the pet hotel industry, there exists various players ranging from small boutique establishments to large-scale chains. These competitors vie for market share by offering unique services and amenities tailored to pet owners' preferences and budgets. With the increasing humanization of pets, pet hotels are no longer just boarding facilities but also serve as luxury retreats, providing grooming services, spa treatments, and personalized care options. As a result, the competition in the pet hotel sector is intensifying, driving innovation and differentiation among providers.
Meeting stringent health and safety standards set by regulatory authorities adds to operational costs and administrative burdens for pet hotel operators. Moreover, attracting and retaining qualified staff, including trained veterinarians and animal caretakers, poses a significant challenge, particularly in regions with labor shortages or high turnover rates. Additionally, maintaining high levels of cleanliness and sanitation amidst a constant influx of pets requires significant investment in infrastructure and resources.
Opportunities abound for pet hotel operators who can capitalize on emerging trends and consumer preferences. Expanding into new geographical markets or diversifying service offerings to include specialized care for specific pet breeds or medical conditions can open up new revenue streams. Moreover, leveraging technology to streamline booking processes, enhance customer communication, and provide real-time updates on pets' well-being can improve customer satisfaction and loyalty. Additionally, partnerships with local pet-related businesses, such as veterinary clinics or pet supply stores, can help pet hotels enhance their service offerings and attract a broader customer base.
Key Companies in the Market:
- Sonoco Products Company
- CPPC Public Co., Ltd
- Advanced Paper Tube, Inc.
- YAZOO MILLS Inc.
- Eerste Nederlandse Rondkartonnagefabriek B.V. (ENR)
- Smurfit Kappa Group
- Kunert Group
- ALBERT EGER GmbH & Co. KG
- Hansen Packaging
- Callenor Co Inc.
- Ace Paper Tube Corporation
- ImPakt packaging
- Valk Industries, Inc.
- Chicago Mailing Tube Co.
- Romiley Board Mill
Recent Developments:
- Sonoco announced in January 2024 that it will acquire Corenso Holdings America, Inc., a major maker of uncoated recycled paperboard and high-performance cores for the paper, packaging, and textile sectors.
- In July 2023, YAZOO MILLS released a new environmentally friendly paper core alternative manufactured from 100% recycled paperboard and certified by the Sustainable Forestry Initiative (SFI).
- ENR invested in a new paper core manufacturing line in May 2023, outfitted with cutting-edge technology and automation to boost efficiency and productivity.
- In March 2023, Smurfit Kappa created a new and sustainable water-resistant paper core with a unique coating that protects it from moisture and humidity while maintaining its recyclability.
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Key Segments
By Material Type:
- Kraft Board
- Virgin
- Recycled
- Paperboard
By Diameter Type:
- 23 mm to 76 mm
- 77 mm to 152 mm
- 153 mm to 229 mm
- 230 mm and above
By Application:
- Paper & Polyester
- Winding & Rewinding
- Decoration & Specialty Paper
- Hygiene & Tissue Paper
- Printing & Coating
By End-use:
- Paper & Polyester
- Electronic
- Textile
- Constructing
- Beverage Packaging
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
Authored by:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Have a Look at Related Research Reports on the Packaging Domain:
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About Future Market Insights Inc. (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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