India’s Paper Consumption to reach 30 million tonnes by 2027, Market Value is projected to reach $19.1 Billion by 2033

India’s Paper Consumption to reach 30 million tonnes by 2027, Market Value is projected to reach $19.1 Billion by 2033

PULP AND PAPER INDUSTRY Scenario: Global and India

The Pulp and Paper Times:

Global:
The global pulp and paper sector are one of the primary sectors, renowned for its wide-ranging applications in writing and printing. The global pulp and paper market size was worth around US$ 365.60 billion in 2023 and is projected to surpass the valuation of US$ 434.36 billion by 2031 at a CAGR of 2.35% between 2024 and 2031. Increasing consumer awareness of health and wellness is a key catalyst propelling the pulp and paper market forward, driving increased demand for related products. Concurrently, technological progressions within the industry are fostering the adoption of more efficient and sustainable production methods, amplifying market expansion.

The containerboard market size is estimated at US$146.96 billion in 2024 and is expected to reach US$ 162.63 billion by 2029, growing at a CAGR of 2.05% during the forecasted period (2024-2029). The demand for containerboard is expected to increase over the next decade, reaching 226 million tons by 2032.

The e-commerce business is expected to grow to over US$100 billion by 2025. The carton board market is significantly influenced by the burgeoning e-commerce logistics industry, driven by evolving consumer behavior and the increased prevalence of online shipping.

The global carton board market size is estimated at US$ 71.93 billion in 2024 and is expected to reach US$ 98.41 billion by 2029, growing at a CAGR of 6.47% during the forecast period (2024-2029).

Indian:
India is the 15th largest paper producer in the world. Demand for paper products, including writing papers, printing papers, and specialty papers, has been steadily increasing. India accounts for about 5% of the global paper market. The market value of the Indian paper industry is expected to reach US$ 19.1 billion in 2033. The market value of the Indian paper industry is expected to grow from 2024 to 2033 at a CAGR of around 7.5%.

The Indian paper industry is set to witness selective growth of 5-7% in FY24. In 2024, the projected output in the pulp & paper market in India is forecasted to reach US$23.79 billion, with a CAGR of 4.65% from 2024 to 2028.

With the increase in literacy rate, more and more students are entering the education system and the demand for notepads, textbooks and supplementary materials is increasing and giving a positive boost to the paper industry. The future growth trend of the Indian paper industry is also being driven by the increasing demand for corrugated and household paper products. (Source: oneindia.com, manufacturing today india.com, economic times, giireasearch.com

Outlook :

The Indian paper and paper products market is expected to reach US$13.4 billion by 2024, with paper consumption in India expected to reach 30 million tonnes by March 2027. India’s paper industry is flourishing both within the country and also globally, fueled by an increase in global demand. This growth is driven by the lifting of pandemic-related restrictions and the prohibition of single-use plastics.
 

Opportunities within the paper industry comprise applications like printing, stationery, hygiene products, and specialty papers for applications in construction, electronics, and automotive.

Printing: The India commercial printing market size reached US$ 34.5 Billion in 2023 and is expected to grow to US$ 45.3 Billion by 2032 at a CAGR of 3% during 2024-2032. Paper remains the primary substrate for printing materials (newspapers, magazines, books, and marketing collateral).(Source: imarcgroup.com)

Stationery: The stationery products market was valued at US$ 140 billion in 2023 and anticipated to grow over 3.7% between 2024 and 2032. The stationery sector sources paper products like notebooks, journals, writing pads, and envelopes. Customizable eco-friendly stationery options are gaining popularity, offering opportunities to manufacturers to cater to niche markets. (Source: gminsights.com)

Hygiene products: In 2024, hygiene product revenues are placed at US$14.31bn. Paper is an essential component in the production of hygiene products like tissue paper, toilet paper, and paper towels. With increasing awareness about hygiene and sanitation, there is a growing demand for quality, soft, and environmentally friendly paper products. (Source: statista. com)

Specialty papers: The specialty papers market in 2023 is estimated at 26.5 million tonnes. Specialty papers serve the construction, electronics, and automotive sectors. Applications range from materials for electronic gadgets to filter papers and specialty coatings for automotive components. These sectors offer opportunities for growth, innovation, and market expansion within the paper industry, driven by evolving consumer preferences, technological advancements, and sustainability considerations.

Segment mix and market outlook:

Writing and printing: The writing and printing (W&P) paper, integral to the education sector and corporates, retains a significant 30% market share. The printing and writing paper market size is forecasted to increase by US$ 9.64 billion at a CAGR of 2.06% between 2023 and 2028. The growth rate of the market depends on several factors such as the emergence of various types of printing and writing paper, the increasing demand for inkjet printing paper, and the demand for printed catalogs. (Source: technavio.com)

Paper cup stock: Paper cups are disposable containers crafted from paperboard, typically coated with a thin layer of plastic or wax, to enhance durability and prevent liquid penetration. The India paper cups market reached a volume of about 8.59 billion units in 2023 and is expected to grow at a CAGR of 3.2% between 2024 and 2032 to reach a volume of about 11.38 billion units by 2032. (Source: expertmarketresearch.com)

The above report has been extracted from West Coast Paper Mills’ annual report for FY 23-24
 

Web Title: India’s Paper Consumption to reach 30 million tonnes by 2027, Market Value is projected to reach $19.1 Billion by 2033