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Global Wax Paper Market Insight2022-03-02 Comments
The Wax Paper market is expected to continue to grow in the next few years. According to the WK-chem Research “Global Wax Paper Professional Survey Report 2022, Forecast to 2027”, Increasing demand from food and beverages sectors is a key driver of the global wax paper market. Moreover, increasing use of wax paper as an insulator in several electrical and electronics applications due to its high dielectric strength is expected to fuel the overall demand for wax paper during the forecast period. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 4.2% base on WK-chem Research regression analysis model.
“The increasing demand of sustainable and environment-friendly packaging solutions is a major driver of the flexible packaging paper market, creating potential growth opportunities for manufacturers. There are multiple environmental issues concerned with waxed paper. Though it is biodegradable in its unaltered form, oft- Applied additives such as petroleum rid it of that quality. Waxed paper also cannot be recycled. This will be a difficult problem that needs to be overcome by continuous research and development in the future of waxed paper production.”said Owen, Senior analyst, WK-chem Research.
Wax paper is a type of paper that has been made moisture-proof by applying wax. A lightweight paper material that has been coated lightly with a wax substance on both sides of the paper is known as wax paper. The wax coating enables this material to repel and effectively hold liquids, and provide a non-sticking surface for various types of applications such as food ingredients and baking products. In food and beverage industry, wax paper is commonly used as a pan liner, food covering, or as a non-stick preparation surface for baking cookies and various desserts. Not only that, wax paper is also widely used in the packaging application market. Food products packed in waxed paper packaging materials have longer shelf life. Excellent stiffness, non curl feature, maximum surface retention and high scuff resistance of the paper is also promoting the growth of the waxed paper packaging market. Waxed paper packaging materials offer custom printing and color matching features owing to low porosity of wax paper that allows retention of ink on the surface. In addition, wax paper is used to attach pattern pieces to fabrics while cutting and sewing. Thus, growth of the global textile industry is anticipated to drive the global wax paper market. However, presence of petroleum additives and non-recyclable nature of wax paper pose serious threats to the environment, which in turn could hamper the market growth during the forecast period.
Some of the major players in the Wax Paper market are Dunn Paper, Paradise Packaging, Navbharat Industries, Grantham Manufacturing, Seaman Paper, BPM, MPI Papermills, Patty Paper. The major players operating in the global market have adopted key strategies such as mergers, acquisitions, collaborations, and partnerships to strengthen their market outreach and sustain the stiff competition in the market.
Segmentation of Wax Paper Market:
On the basis of type, the market is segmented into natural wax and mineral based wax. Natural waxes are produced from modified vegetable oils (oleochemicals, or food additives) and mineral based waxes are purified from crude oil refining processes.These waxes can also be modified to enhance the slip, gloss and sealable property of the paper through addition of additives. On the basis of end use, the market is segmented into food & beverages, electrical & electronics, packaging, personal care, and others. The market is growing subsequently because of the increasing demand from food and beverages sector. Cartons and boxes are widely used for packaging fruits, vegetables and various beverages; this is one of the reasons for the growth of this industry. Waxed paper packaging products are hydrophobic in nature which prevents humidity, water and grease to come in contact with the packed goods. Waxed paper packaging products with their high gloss value and semitransparent nature gives food products a high quality image. Food packaging market predominantly for the application of sweets, confectioneries, baked goods and dairy products have fuelled the demand for waxed paper packaging products.
Wax Paper Market: Regional Analysis
On the basis of Geography, the Wax Paper market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The packaging industry is expected to witness highest growth rate in the Asia Pacific region while the market is expected to be dominated by the North American and European region as the demand in these regions is quite high. Increasing disposable income, changing lifestyles, and rising need of convenience food items are driving the demand for flexible packaging paper solutions, as these lightweight packaging solutions are used for packaging of food items such as dairy products, food grains, fruits & vegetables, bakery and confectionaries, and other ready-to-eat products.
Largest share area：North America
Largest share country：America
Product Type：natural wax and mineral based wax
Application：food & beverages, electrical & electronics, packaging, personal care, and others
Leading Company：Dunn Paper, Paradise Packaging, Navbharat Industries, Grantham Manufacturing, Seaman Paper