Paper & Board Technologies Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.80 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Paper & Board Technologies Market Analysis
The Paper and Board Technologies Market is expected to register a CAGR of 7.8% during the forecast period 2022 to 2027. In the last decade, the pace of change in the industry has accelerated, with more and more frequent technological disruptions outpacing development. Paper and Board products have played a crucial role for customers during the COVID-19 pandemic. For example, as consumers transitioned to work from home, corrugated board packaging was extensively used for e-commerce packaging.
- During the last decade, paper and board industry players focused heavily on a forced restructuring of the pulp and paper industry, with asset closures and mill conversions. A decline in demand is some types of paper, such as graphic paper, prompted paper and board market players to shift their assets into packaging and tissue capacity. To manage this phase of forced restructuring, many global diversified pulp and paper corporations were also engaged in divesting adjacent business sectors and exiting some geographies to focus back on their core businesses.
- The paper and board industry is expected to witness a transformational change characterized by the wave of industry technology disruption, such as digital and analytics, coupled with an increasing focus on sustainability. Unlike other packaging industry products, demand for paper and board packaging products is structurally increasing; therefore, the next level of disruption is anticipated to involve an increase in productivity and output along with the sustainability-led transformation.
- Digital and analytics are able to offer the next transformation in the industry. Using these advanced technologies, companies can improve productivity and throughput by more than 10% to 15%, representing considerable gains on traditional cost-curve differences between many market players or individual mills and machines. These technologies can be further extended to optimize the end-to-end value chain, from fiber (forest or recycled) to the final product, in order to harness the complete value of the data along the supply chain.
- Digitalization in the industry has been accelerated by the COVID-19 pandemic, which exposed a requirement for more resilience and transparency across the paper and board packaging value chain. This development is anticipated to lead to greater use of artificial intelligence (AI) to monitor cost efficiency and productivity and track processes in real-time.
- Several brands and converters were already experimenting with radio-frequency identification (RFID) and near-field communications (NFC) for intelligent packaging applications before the COVID-19 pandemic struck. Industrial RFID tags have become more popular owing to the advantages it provides, such as reducing shipping errors, improving security, and validating raw materials and finished goods., among others.
Paper & Board Technologies Market Trends
This section covers the major market trends shaping the Paper & Board Technologies Market according to our research experts:
Increasing Trend of Replacing Plastic and Single-use Paper Products with Paper and Board Products
- Pressures to eliminate single-use plastic and reduce single-use paper product consumption are spurring developments in papermaking and coating technologies. Functional and barrier coating materials are applied to paper and board packaging to provide a barrier against the egress or ingress of oil and grease, water and water vapor, oxygen, and aroma, for the products packed.
- The scope of plastic restrictions has gradually expanded from plastic bags to disposable plastic packaging products. The limited use of plastic products has prompted a number of end-users and many countries to look for cost-effective and environmentally friendly alternatives. Materials such as paper and board, along with other materials like metals, glass, and biodegradable plastics products, have been considered as alternatives to plastic products.
- With the implementation of plastic bans, the demand for disposable paper boxes, paper bags, paper cans, and other related paper and board products for food packaging increased post COVID-19 pandemic period.
- In manufacturing these paper and board packaging products, innovative technologies are helping to reduce weight and volume of packaging, reduce energy consumption, eliminate and minimize toxic additives, as well as create sustainable business models, therefore driving the market.
- For instance, in June 2022, a scientist from Rutgers School of Public Health and Environmental and Occupational Health Sciences Institute developed a plant-based biodegradable coating which can be sprayed on foods, guarding them against pathogenic and spoilage microorganisms as well as transportation damage. This research was aimed to produce environmentally friendly alternatives to plastic food wrap and containers. Owing to technologies like these, paper and board packaging products can be used in a wide range of end-user industries including food.
Asia Pacific is Expected to Register the Fastest Growth Rate
- Due to the increasing penetration of packaging machinery in the region, Asia Pacific is expected to witness the highest growth rate during the forecast period. The formation of strategic partnerships and collaborations by key regional vendors add growth to the market. For instance, in October 2021, JK Paper Limited, one of India's largest pulp and paper producers, selected AFT Global to supply a POM approach (paper machine approach technology) flow and stock preparation system for JK Paper's latest packaging board expansion project.
- Automation became more prevalent with the spread of the COVID-19 pandemic. China is expected to be one of the critical markets for paper and board packaging automation, considering the increasing investments and the growing size of the retail market sector. The rising consumption rate of goods accelerates the need for more packaging; therefore, influencing the demand for packaging robots.
- The packaging market in Japan is also experiencing healthy growth. The demand for corrugated packaging in the country has been fueled by the growing demand and development of beverages and packaged food. Japan's growing processed food industry is also expected to act as one of the crucial drivers for the paper and board technologies market.
- In addition, the introduction of the Industrial Internet of Things (IIoT) into packaging equipment is also gaining popularity in the region, which is expected to improve the efficiency of packaging lines and pave the way for the digital future of packaging equipment over the next decade, by opening new opportunities for improved machinery, machine infrastructure, and operators.
Paper & Board Technologies Industry Overview
The Paper and Board Technologies Market is moderately fragmented with a significant number of players operating in the market. As new technologies and advanced machineries require more capital and R&D investment, more advanced technologies are usually provided by several large companies, therefore, certain segments of the market are consolidated within these large market players.
- June 2022 - ANDRITZ, an international technology group signed an agreement to acquire the Bonetti Group, headquartered in Milan, Italy. This acquisition expanded and strengthened ANDRITZ's aftermarket business and supplemented the company's Paper Machine Service portfolio.
- April 2022 - Valmet announced to supply a fine paper-making line with stock preparation and extensive scope of automation to Asia Symbol (Shandong) Pulp and Paper in Rizhao, China. This new high-capacity fine paper-making line is planned to be designed to produce high-quality wood-free uncoated paper (WFU) grades. The launch of the new production line PM14 is scheduled for 2023. The project is expected to be of value around EUR 80 to 100 million.
Paper & Board Technologies Market Leaders
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Valmet Oyj
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Siemens AG
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Andritz AG
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ABB Ltd
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Honeywell International Inc
*Disclaimer: Major Players sorted in no particular order
Paper & Board Technologies Market News
- May 2022 - ABB Ltd supported Sun Paper to launch a pulp mill, at the new Beihai, China. ABB installed three sets of its flagship distributed control system (DCS) ABB Ability System 800xA, two sets of mechanical pulp drive systems, four refiner motors, auxiliary high-voltage cabinets, and more than 30 high and low-voltage motors.
- January 2022 - BW Papersystems, announced that the company completed an agreement with Cazzago San Martino, Brescia-based New Packing System srl. The agreement includes supplying four color 16.28 ServoPro rotary die-cutter. This machine will be installed in August 2023, which will join existing converting machines which is also been supplied by BW Papersystems.
Paper & Board Technologies Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Assessment of Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Lightweighting of Packaging Board
5.1.2 Increasing Automation and Digitalization of the Industry
5.2 Market Challenges
5.2.1 Budget Constraints and High Cost of Solutions
6. MARKET SEGMENTATION
6.1 By Product Type
6.1.1 Containerboard
6.1.2 Cartonboard
6.1.3 Wrapping Paper
6.1.4 Tissue
6.1.5 Other Paper and Board
6.2 By Application
6.2.1 Production Lines and Machine Sections
6.2.2 Automation
6.2.3 Printing
6.2.4 Services
6.2.5 Other Application
6.3 By Geography
6.3.1 North America
6.3.2 Europe
6.3.3 Asia Pacific
6.3.4 Rest of the World
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Valmet Oyj
7.1.2 Siemens AG
7.1.3 Andritz AG
7.1.4 Flint Group
7.1.5 Covestro AG
7.1.6 Honeywell International Inc.
7.1.7 ABB Ltd
7.1.8 Stora Enso Oyj
7.1.9 International Paper
7.1.10 BW Papersystems
7.1.11 Syntegon Technology GmbH
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Paper & Board Technologies Industry Segmentation
Paper and Board Technologies refer to the machineries, processes, products, services, and advanced technologies used throughout the value chain of the paper and board packaging market. The study's scope considers hardware and software solutions for different applications in the industry globally.
The Paper and Board Technologies Market is Segmented by Product Type (Containerboard, Cartonboard, Wrapping Paper, Tissue), by Application (Production Lines and Machine Sections, Automation, Printing, Services), and by Geography.
| By Product Type | |
| Containerboard | |
| Cartonboard | |
| Wrapping Paper | |
| Tissue | |
| Other Paper and Board |
| By Application | |
| Production Lines and Machine Sections | |
| Automation | |
| Printing | |
| Services | |
| Other Application |
| By Geography | |
| North America | |
| Europe | |
| Asia Pacific | |
| Rest of the World |
Paper & Board Technologies Market Research FAQs
What is the current Paper and Board Technologies Market size?
The Paper and Board Technologies Market is projected to register a CAGR of 7.80% during the forecast period (2024-2029)
Who are the key players in Paper and Board Technologies Market?
Valmet Oyj, Siemens AG, Andritz AG, ABB Ltd and Honeywell International Inc are the major companies operating in the Paper and Board Technologies Market.
Which is the fastest growing region in Paper and Board Technologies Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Paper and Board Technologies Market?
In 2024, the North America accounts for the largest market share in Paper and Board Technologies Market.
What years does this Paper and Board Technologies Market cover?
The report covers the Paper and Board Technologies Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Paper and Board Technologies Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Paper and Board Technologies Industry Report
Statistics for the 2024 Paper and Board Technologies market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Paper and Board Technologies analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
