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Cut Size Uncoated Freesheet Paper Market Overview
The global cut size uncoated freesheet paper market was valued at $16,122.3 million in 2017 and is projected to reach $18,483.6 million by 2023, witnessing a CAGR of 2.4% during the forecast period. The growth of the paper industry in emerging economies and advantages associated with the use of uncoated sheet paper are driving the market growth. Cut size uncoated freesheet paper is a type of graphic paper manufactured using about 90.0% chemical pulp and 10.0% mechanical pulp. The product is available in the form of rectangular sheets in three sizes: 210 mm x 297 mm (A4), 297 mm x 420 mm (A3), and 215 mm x 345 mm (legal).
GLOBAL CUT SIZE UNCOATED FREESHEET PAPER MARKET, BY SIZE, $M (2013-2023)
Based on size, the cut size uncoated freesheet paper market has been categorized into A4, A3, and others, where the category of “others” includes legal-sized paper. In terms of value, A4-sized paper held the largest share, of more than 80.0%, in the market in 2017. A4-sized uncoated freesheet paper is more preferred than other paper grades because of its lower cost and higher compatibility with a variety of printers, such as inkjet and laser printers.
The cut size uncoated freesheet paper market has also been categorized into residential and commercial end users. Commercial end users contributed a larger revenue share, of more than 75.0%, to the cut size uncoated freesheet paper market in 2017. This can be attributed to the increased use of cut size uncoated freesheet paper in offices, educational institutes, and factories.
Globally, Asia-Pacific (APAC) held more than 30.0% value share in the cut size uncoated freesheet paper market in 2017. Besides, the market in the region is anticipated to witness a CAGR of 3.0% during the forecast period. The region is also expected to continue holding the largest share in the global market in the coming years, on account of the increasing number of offices and educational institutes and the growth of the paper industry.
Cut Size Uncoated Freesheet Paper Market Dynamics
Growth of the paper industry in emerging economies is a major factor driving the cut size uncoated freesheet paper market growth. Also, increase in the number of offices and educational institutes in these economies will provide growth opportunities to the market players in the coming years.
Paper is a prerequisite for literacy and education in emerging economies of the world, such as India and Brazil. Besides, India is one the fastest-growing paper markets globally, witnessing significant growth. Paper demand in India is anticipated to rise by 53.0% in the next six years, primarily due to increase in the number of school-going children in rural and urban areas. Besides, the country aims to improve its literacy rate from 70.0% to 90.0%, which is expected to accelerate the demand for printing paper, writing paper, and newsprint paper in the country.
Thus, the growth in the paper industry, resulting from the increased demand for paper in emerging economies, is expected to continue driving the cut size uncoated freesheet paper market growth in the coming years.
India holds a significant share in the global education sector. The country has around 1.5 million schools and about 751 universities, and the number is expected to increase in the coming years. Besides, the sector has witnessed some major developments in terms of investments and construction of schools and colleges in recent years. Brazil, another emerging economy, has more than 1,41,260 schools, with around 30 million students. The number of schools is expected to increase in the country, as the population continues to rise.
In addition, the number of new companies and the expansion activities by existing companies are increasing in India, thereby leading to the construction of new office buildings. Further, the office demand in China has also increased significantly in recent years. Since cut size uncoated freesheet paper is utilized in high volumes for printing and writing purposes in educational institutes and offices, increase in the number of offices and educational institutes will provide ample growth opportunities to the players operating in the cut size uncoated freesheet paper market during the forecast period.
Anti-dumping duty is protectionist tariff that a domestic government imposes on imports from foreign countries, which, it believes, are priced below the average market value. Countries in North America and Europe have imposed anti-subsidy and anti-dumping tariffs on uncoated freesheet paper imports to safeguard their domestic industries. In addition, the economic slowdown in advanced economies has resulted in a significant excess capacity of paperboard and paper imported from China and Indonesia.
The Directorate General of Anti-Dumping and Allied Duties has already initiated investigations concerning imports, and it is expected that the anti-dumping duty will soon be imposed on other countries too. Anti-dumping duty on paper will further restrain paper manufacturers from exporting their products. This, in turn, will hinder the growth of the cut size uncoated freesheet paper market during the forecast period.
Cut Size Uncoated Freesheet Paper Market Competitive Landscape
Some of the major players operating in the global cut size uncoated freesheet paper market are Domtar Corporation, International Paper Company, The Navigator Company S.A., Mondi Group, UPM Group, Nippon Paper Industries Co. Ltd., PT Pabrik Kertas Tjiwi Kimia Tbk., PT. Indah Kiat Pulp & Paper Tbk, Smurfit Kappa Group plc, Asia Pacific Resources International Holdings Ltd (APRIL) Group, Asia Symbol, Suzano Papel e Celulose S.A., and Shandong Sun Holdings Group.