Market Insights
Carbonless paper is a sheet of coated paper used to transfer information written on the front onto sheets beneath one paper. It comprises the micro-encapsulated dye or ink on the backside of the top sheet and a clay coating on the front side of the bottom sheet. It duplicates the markings to the top sheet by rupturing and the reaction of dye capsules with the clay to form a permanent mark whenever a certain amount of pressure is applied through writing or impact printing.
The global carbonless paper market is valued at US$ YY million in 2022 and it is expected to grow at a CAGR of 7.4% to reach US$ YY million by 2029.
Market Dynamics
Rising demand from end-users
The use of carbonless paper has seen a surge in demand in recent years from various sectors. The carbonless paper has various advantages such as ease of use, anti-forgery properties and costs savings, leading to wider adoption among various sectors.
Courier and postal services are some of the major users of carbonless papers. Deliverymen mainly use it to copy the customer's delivery confirmation. The rise of online shopping and E-commerce has led to a growing demand for carbonless paper from courier and postal services.
Shipping and logistics companies also use carbonless papers, mainly to duplicate statements and shipping manifests on the go, especially when printers aren't around. The rise in global trade has led to growing demand from shipping companies.
Banks and financial institutions also utilize carbonless paper, mainly for transaction statements and bookkeeping. The wider adoption of banking services, especially in developing and underdeveloped countries, leads to greater demand for carbonless paper.
Market Segmentation – By Product Type- Tailored Paper
Tailored papers are customized papers designed based on the demand of the customer. Apart from the mentioned papers, 5 parts, 6 parts and single part sheets come under the tailored paper.
For instance, consumers can now choose single sheet carbonless paper. Customers can customize their color schemes using this product. The normal collations, for example, always begin with white on top. As a result, if a consumer requests a blue sheet on top, they can only purchase a blue CB single sheet product. White, canary, pink, goldenrod, blue and green single sheets are offered.
Tailored papers are used in applications such as bill of lading, sales receipts, invoices, tickets, police citations, purchase orders, work orders and others.
Geographical Analysis – By Region- Asia-Pacific
Carbonless paper is widely used in the region to create sales receipts, requisition forms, delivery forms, employment applications, contracts, etc. Carbonless copy paper is still necessary for service providers in the digital age, whether in the hospitality, construction, or retail industries. It's simple to create receipts, acknowledge delivery and make invoices duplicate or triplicate using noncarbon copy paper.
The paper sector can grow as India's per capita paper consumption is at YY kg compared to the global average of 57 kg. The demand for paper is growing at YY% to YY% per annum; India's share in world paper production is about 5%. According to CPPRI data (2022-2029), India has almost YY paper mills with YY operational installed capacities of YY.YY million tons.
The paper and paperboard imports into India have been steadily increasing. In value terms, imports have increased at a CAGR of YY.YY percent during the last nine years. Imports increase faster than domestic production, indicating that domestic installed capacity is underutilized.
Competitive Landscape
The global carbonless paper market is moderately consolidated and competitive. The top four (5) companies hold around YY.YY% of the global market. The major competitors in the market are Mitsubishi HiTec Paper Europe GmbH, Koehler Paper Group, NCR Paper, Jinyi Paper Co., Ltd., Pixelle Specialty Solutions, Nekoosa Coated Product and Others.