The Global "Carbonless Paper Market" is expected to grow at a high CAGR during the forecasting period (2022-2029).
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 top sheet's backside and a clay coating on the bottom sheet's front side. 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 market growth is driven by the rising demand due to its advantages such as cost-effectiveness, security against forgery, user-friendly, and saving money and time. Consumers prefer carbonless paper in comparison to laser printing as it is cheaper than laser printing. It is compatible with laser and inkjet printers.
There is an increase in continuous computer stationery usage by courier services, banks, shipping companies, hotels, pharmaceutical companies, hospitals, and others. Continuous computer paper is available in different sizes and thicknesses options. Companies are manufacturing computer paper with a superior grade of raw material and higher tear strength.
The market is witnessing the launch and manufacturing of novel carbonless papers with technological advancement. For instance, Manufacturers are manufacturing carbonless paper with very less effect on temperature and humidity. For instance, Nekoosa Coated Products had launched antimicrobial carbonless paper by adding Biomaster silver ion technology, a non-toxic, naturally occurring antimicrobial technology for bacterial prevention.
However, digital formats' rising usage could harm the demand for carbonless paper due to digital format advantages, such as faster turnaround times, better quality, design flexibility, personalization, customization, and lower costs.
The global carbonless paper market is segmented on type as 2 parts, 3 parts, 4 parts, and tailored paper. 2 Parts segment accounts for the significant market share due to high usage of 2 Parts carbonless paper in laser printers. 2 Parts carbonless paper is available in the different sizes, weights, forms, and volumes.
The tailored paper segment is expected to have positive market growth because most companies manufacture tailored carbonless papers. The tailored carbonless paper can be customized as per the consumers’ requirements.
Further, the market is also classified based on application into institutions, educational, business, and households. The institution segment accounts for the highest market share due to the rising demand for carbonless papers in the institutions. Carbonless paper pads or notebooks are widely used in institutions to maintain records in all places to prevent the unnecessary work of scanning and photocopy. It is further expected that the institution's segment shall maintain its dominant position over the forecasted period.
The business segment is expected to have a significant market share due to the high usage of carbonless paper for making continuous computer stationery, bill & checkbooks, and invoice pad.
By region, the global carbonless paper market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, the North American region dominated the global carbonless paper market due to many companies manufacturing carbonless paper. The United States accounts for the highest market share of XX% in 2019 in North America. Companies are focussing on manufacturing carbonless paper and are coated with an eco-friendly coating. Several manufacturers are using sustainable products for developing carbonless paper owing to the shift in consumers’ choice towards sustainable products. It is further expected that the North American region would maintain its dominant position over the forecasted period.
Asia Pacific region is expected to have a significant market share owing to the rising demand for security papers in international tourism. India is one of the largest markets for travel and tourism as it provides a diverse portfolio of niche tourism products. According to the India Brand Equity Foundation, India’s tourism sector is expected to reach USD 488 billion by 2029. It has been observed that the total contribution by the travel and tourism sector to India’s GDP is expected to increase from USD 234.03 billion in 2017 to USD 492.21 billion in 2028. Developing countries such as India and China are expected to have drastic market growth due to changing consumers’ preferences for sustainable products.
The global carbonless paper market is highly competitive with the presence of several local and international players. Koehler Paper Group, Mitsubishi HiTec Paper Europe GmbH, P. H. Glatfelter Company, and Jinyi Paper Co., Ltd is the leading market players with a significant market share.
The companies enter into collaborations, mergers, strategic partnerships, and acquisitions to increase the demand for carbonless paper and its expansion across the globe. For instance, in February 2020, Pixelle Specialty Solutions had acquired specialty paper mills in Jay and Stevens Point, WI, from Verso Corporation. This acquisition would enable the company to become one of the largest specialty paper producers in North America, with production currently exceeding one million tons annually.
In February 2020, Domtar Corporation had entered into an asset purchase agreement with Appvion Operations, Inc. to acquire Appvion's Point of Sale (POS) paper business. The agreement includes the coater and related equipment located only at the West Carrollton, Ohio facility and a license for all corresponding intellectual property. In October 2018, Lindsay Goldberg had acquired the Specialty Papers Business Unit of P. H. Glatfelter Company and rebranded it as Pixelle Specialty Solutions.
**The global Carbonless Paper report will provide access to approximately 53 market data tables, 44 figures, and 178 pages
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