PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1558292
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1558292
According to Stratistics MRC, the Global Absorbent Paper Market is accounted for $145.26 billion in 2024 and is expected to reach $225.43 billion by 2030 growing at a CAGR of 7.6% during the forecast period. Absorbent paper is designed to efficiently absorb and hold onto liquids, and it is frequently used in a variety of industrial and domestic applications. Usually produced with a highly porous structure, this kind of paper can quickly absorb moisture to stop spills and leaks. It is frequently used in products for home cleaning, industrial spill control, and medical absorbent pads. Additionally, its capacity to contain large volumes of liquid makes it a necessary component in settings where preserving hygienic conditions and averting contamination is critical.
According to the International Paper Association, absorbent paper products are vital in numerous applications due to their superior liquid retention capabilities, which play a crucial role in maintaining hygiene and efficiency across various industries.
Enhanced knowledge of hygiene
The need for products that can efficiently manage and contain spills and contaminants is rising along with the global awareness of hygiene and cleanliness. Absorbent paper is extensively utilized in homes and public areas for spill control and cleaning, as well as in medical settings for wound care and hygienic reasons. Moreover, the demand for premium absorbent paper products is driven by the increased emphasis on preserving cleanliness and avoiding cross-contamination.
Elevated costs of raw materials
The total cost of producing absorbent paper can be affected by the price of raw materials like wood pulp and specialty fibers. Increased production costs and a negative impact on manufacturers' profit margins can result from fluctuations in the prices of these materials, which can be caused by disruptions in the supply chain or market volatility. Furthermore, growth in the market may be constrained by this, particularly for smaller firms that have less financial capacity to cover these expenses.
Development of environmentally friendly products
Manufacturers have an opportunity to innovate and create environmentally friendly absorbent paper products in response to the growing emphasis on environmental sustainability. Businesses can meet the growing consumer and regulatory demand for environmentally responsible products by concentrating on biodegradable materials, recycled content, and sustainable production processes. Moreover, this change has the potential to increase market share among companies and customers who care about the environment.
Substitution using different materials
Alternative materials like synthetic absorbents, reusable cloths, and non-woven fabrics are competitors in the absorbent paper market. These substitutes might have advantages like durability, affordability, or environmental benefits. Additionally, the market growth may be impacted by a decline in demand for traditional absorbent paper products as businesses and consumers give these options more thought.
The COVID-19 pandemic had a major effect on the absorbent paper market. At first, it caused a spike in demand for products like sanitary wipes and medical absorbent pads that are related to hygiene and sanitation. An increased consciousness of hygiene and infection control was the driving force behind this demand surge. But the pandemic also threw off supply chains, which resulted in shortages of raw materials and delays in production. Furthermore, market dynamics were affected by consumer behavior changes brought about by the pandemic and economic uncertainties. As a result, demand for certain sectors temporarily decreased as consumers' attention shifted to necessities.
The Toilet Tissue segment is expected to be the largest during the forecast period
The toilet tissue segment has the largest share of the absorbent paper market. Toilet paper, which is widely used for personal hygiene in both residential and commercial settings, holds a substantial market share because of its vital function and high rates of consumption. Its comfortable and efficient cleaning properties stem from its composition of soft, absorbent paper. Moreover, the population is growing, people are becoming more conscious of their hygiene, and consumer preferences for sustainable and high-quality personal care products are all contributing factors to the steadily rising demand for toilet paper.
The Personal Care & Home Care segment is expected to have the highest CAGR during the forecast period
The Personal Care & Home Care segment of the absorbent paper market is anticipated to grow at the highest CAGR. Products like paper towels, wipes, and toilet tissue are included in this category since they are necessary for everyday cleanliness and hygiene. The demand in this market is driven by the rising emphasis on personal hygiene as well as rising consumer knowledge of health and sanitation. Additionally, growth is also being fueled by innovations in environmental sustainability, convenience, and product quality. With consumers favoring more eco-friendly, comfortable, and efficient options, the personal care and home care market is expected to grow significantly.
North America has the largest market share for absorbent paper. The region's high rates of absorbent paper product consumption, which are fueled by the well-established home care and personal care industries, are responsible for this dominance. The significant market share is a result of the strong presence of large manufacturers, cutting-edge technological advancements, and a high standard of living. Furthermore, the region's emphasis on sanitation and hygiene, combined with consumers increasing desire for high-quality, environmentally friendly products, supports North America's dominant position in the absorbent paper market.
The absorbent paper market is growing at the highest CAGR in the Asia-Pacific region. Numerous factors, such as a sizable and expanding population, increased urbanization, and rising disposable incomes in emerging economies, are contributing to this rapid growth. The growing middle class in the area is driving up demand for hygiene and personal care products, and changing lifestyles and fast industrialization are driving up demand for a variety of absorbent paper products. Moreover, driving the market expansion in Asia-Pacific is the emphasis on raising sanitation and hygiene standards as well as a growing consciousness of environmental sustainability.
Key players in the market
Some of the key players in Absorbent Paper market include Mondi Group, Nippon Paper Industries Co., Ltd, Robert Wilson Paper, Domtar Corporation, Metso Group, Unicharm Corporation, Zhaohui Filter Technology, Kimberly-Clark Corporation, Glatfelter Corporation, Sorbent Paper Company Pty Ltd, Cascades Inc, Koehler Paper Group, Hokuetsu Corporation, Venkraft Paper Mills Pvt.Ltd and Kruger Inc.
In April 2024, Metso and JSC Almalyk Mining and Metallurgical company have signed a frame agreement on significant process technology deliveries for Almalyk MMC's new copper smelter investment in Uzbekistan. The companies have collaborated on the development of minerals processing and metallurgical operations since 2011.
In March 2024, Kimberly-Clark and integrated energy solutions company, Energy Partners (EP), have signed a long-term Power Purchase Agreement (PPA) to install one of the largest rooftop solar photovoltaic (PV) systems in Cape Town, South Africa. According to the terms of the agreement, EP will install a 2.2MW rooftop system at Kimberly Clark's Epping manufacturing site of well-known brands Huggies(R) and Kotex(R).
In March 2024, UK-based packaging company Mondi has announced an agreement in principle for a potential all-share offer to acquire its smaller rival DS Smith for £5.14bn ($6.57bn). The agreement follows after Mondi confirmed last month that it was considering a possible all-share offer for its competitor DS Smith.
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.