Rise in consumption of paper and paperboard and surge in demand for drive technology have boosted the growth of the global paper making machines market.
PORTLAND, Ore. , Aug. 5, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Paper Making Machine Market by Headboxes Type (Multilayer, Air Padded), by Operation (Semi – automatic, Fully automatic), by Machine Type (Specialty paper machine, Graphic paper machine, Packaging paper machine, Tissue Paper Making Machines, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". As per the report, the global paper making machines industry accounted for $20.4 billion in 2021, and is expected to reach $32.3 billion by 2031, growing at a CAGR of 4.6% from 2022 to 2031. The report provides an in-depth analysis of changing market trends, key investment pockets, top segments, regional landscape, value chain, and competitive scenario.
Major determinants of the market growth
Rise in consumption of paper and paperboard and surge in demand for drive technology have boosted the growth of the global paper making machines market. Moreover, increase in environment benefits and economic advantages by pulp and paper manufacturers supplemented the market growth. On the other hand, increase in demand for paper making machine market by using different types of materials such as cloth and cotton to reduce deforestation and increased demand for paper napkins at homes, restaurants, and other commercial and residential places would open new opportunities in the future.
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The Covid-19 pandemic forced several companies in the market to halt business operations to comply with government's new regulations. This disturbance negatively affected the manufacturing and disrupted the supply chain.
During the pandemic, most companies received no new consignments, which created challenges for them to maintain their foothold in the market.
Due to prolonged lockdown, the prices of raw materials increased drastically. Moreover, shortage of workforce made it difficult to operate paper manufacturing activities at full scale.
The multilayer segment dominated the market growth
By headboxes type, the multilayer segment held the largest share in 2021, accounting for more than four-fifths of the global paper making machines market, and is estimated to dominate the market throughout the forecast period. In addition, the segment is expected to register the highest CAGR of 4.7% during the forecast period, owing to increase in the adoption of technological advancement by the manufacturers. The report includes an analysis of the air padded segment as well.
The fully automatic segment to manifest the highest CAGR through 2031
By operation, the fully automatic segment is expected to register the highest CAGR of 4.7% during the forecast period. In addition, the segment held the largest share in 2021, contributing to more than three-fourths of the global paper making machines market, and is projected to continue its dominance during the forecast period. This is due to increase in adoption of automation in the work process in manufacturing industries. The report includes an analysis of the semi-automatic segment.
The specialty paper machine segment held the lion's share
By machine type, the specialty paper machine segment dominated the market in 2021, accounting for nearly one-third of the global paper making machines market, and is expected to continue its dominance from 2022 to 2031. This is due to benefits associated with specialty paper such as non-reactive, temperature resistant, waterproof, colorful, attractive, and lightweight. However, the tissue paper making machines segment is estimated to showcase the highest CAGR of 5.7% during the forecast period, owing to rise in demand for use of paper in various end-use industries such as packaging food & beverages and others.
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Asia-Pacific held the largest share
By region, the global paper making machines market across Asia-Pacific dominated the market in 2021, holding nearly two-fifths of the market, and is expected to dominate in terms of revenue during the forecast period. In addition, the region is expected to register the highest CAGR of 5.1% during the forecast period. Rise in awareness regarding environmental health, owing to which paper making machines manufacturers and consumers are shifting their preferences toward more sustainable paper packaging solutions. The market is analyzed across other regions such as North America , LAMEA, and Europe .
The report analyzes these key players of the global smoking pipe market. These companies have adopted several strategies such as expansion, partnerships, new product launches, collaborations, and mergers & acquisitions to maintain their foothold in the industry. In addition, the report is essential in determining the business performance, product portfolio, operating segments, and developments by every market player.
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