Billing Paper Market to Top US$ 1.48 Bn by 2031 as Adoption of Green Billing Papers Burgeons: Future Market Insights
Future Market Insight's (FMI's) latest study uncovers current trends and opportunities accelerating the billing paper market growth. It provides insights into key factor driving demand across various segments in terms of paper type, basis weight, and application. The survey also identifies scope for expansion in developed and developing markets for the assessment period, from 2021 to 2031.
DUBAI, U.A.E., Nov. 17, 2021 /PRNewswire/ -- As per the latest study by FMI, the global billing paper market is estimated to reach US$ 1.48 Bn by the end of 2031. Increasing adoption of digitalized billing systems, especially across developing economies such as India, China, Indonesia, and others is propelling the demand for billing paper.
Increasing need to keep the business data organized and save operational costs by providing printed bills to customers is driving the market. In response to this, the market is expected to expand at a CAGR of 6% during the forecast period 2021-2031.
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Rising awareness regarding the hazardous effect of carbon paper on human health and the environment is encouraging businesses to adopt sustainable and carbon-less billing paper for invoices and receipts. Against this backdrop, the market is anticipated to register year-on-year growth of 4.2% in 2021.
Some of the leading billing papers manufacturers are launching environment-friendly products to capitalize on the increasing demand for green papers. For instance, Pixelle Specialty Solutions recently launched carbonless billing papers, which are made using novel NatureSolv™ technology to address surging demand for sustainable billing papers. A slew of such developments and product launches are estimated to create lucrative growth opportunities in the market.
In terms of paper-type, the 2 parts no carbon required (NCR) paper segment is projected to hold the largest revenue share, accounting for nearly 35% of the sales through 2031. Easy transfer of handwritten data from the top sheet to the underneath one is expected to improve the growth in the segment.
"Key players are focusing on providing customized carbonless billing papers to assist companies to promote their businesses. Some are offering self-designed billing papers to businesses, showcasing specific information that will help companies improve their brand identify," says a FMI analyst.
Key Takeaways from Billing Paper Market Study
- The U.S. is projected to lead the market in North America, accounting for nearly 85% of total sales during the assessment period.
- Germany is estimated to emerge as one of the highly remunerative markets in Europe, contributing more than 25% of the revenue through 2031.
- Sales of billing paper in Thailand is forecast to grow by 10% CAGR over the next ten years.
- China is expected to emerge as the largest billing paper market in East Asia, expanding at a CAGR of 6.5% between 2021 and 2031.
- As per basis weight, the 40-100 GSM segment is anticipated to dominate the market, accounting for nearly 59% of the total demand share through 2031.
Key Drivers
- Growing trend of shopping from supermarkets and increasing popularity of e-commerce in China, India, the U.S., and Germany are expected to drive the demand for billing paper.
- Rising demand for two-part billing papers for keeping the track of sale transactions to maintain reliable records and eliminate conflicts & queries regarding the post-transaction is facilitating the sales of 2 parts NCR papers.
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Key Restraints
- Increasing number of initiatives undertaken to eliminate the use of paper and decline deforestation activities are hampering the growth in the market.
- Rising trend of electronic invoicing and digital payments, owing to the growing smartphone and internet penetration across the world is hindering the sales of billing paper.
Competitive Landscape
The top five companies in billing paper market include Koehler Paper Group, Pixelle Specialty Solutions, Mitsubishi HiTec Paper Europe GmbH, Asia Pulp & Paper (APP) Sinar Mas. and Jinyi Paper Co., Ltd. These participants are estimated to account for around 40% of the global sales in 2021.
Key manufacturers are aiming at merger, acquisition, strategic collaboration and partnerships with other players to increase the production capacity and strengthen their global presence. For instance,
- In 2021, Pixelle Specialty Solutions LLC, a leading manufacturer of specialty papers, announced acquiring carbonless rolls and security papers business from Appvion Operations Inc. and Veritiv Corporation to strengthen its portfolio and expand its production capacity.
- In September 2021, Koehler Paper Group, a leading specialty paper manufacturing company, announced entering into a partnership with a Germany-based company, Claurs films GMBH. The partnership will assist Koehler paper to tap and explore an additional market developed with Claurs films GMBH.
Some of the key players operating in the market profiled by FMI are:
- Koehler Paper Group
- Pixelle Specialty Solutions
- Mitsubishi HiTec Paper Europe GmbH
- Krpa Holding CZ, A.S.
- Nekoosa Coated Products, LLC
- KDM Enterprises
- Asia Pulp & Paper (APP) Sinar Mas.
- Yulu Paper Industry Co.,Ltd
- Jinyi Paper Co., Ltd.
- VistaCoat
- Double Tree Paper Industry Group Co.,LTD
- Gold Huasheng Paper (Suzhou Industrial Park) CO., Ltd Inc.
- Xiandai Paper Production
- Surya Coats Private Limited
- Shandong Sincere Paper Co., Ltd.
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More Valuable Insights on Billing Paper Market
FMI, in its new report, provide an in-depth analysis of the global billing paper market, analyzing forecast statistics for the coming 10-years. The survey reveals growth projections on in billing paper market with detailed segmentation:
By Paper Type:
- 2 Parts NCR Paper
- 3 Parts NCR Paper
- 4 Parts NCR Paper
- 5 Parts NCR Paper
By Basis Weight:
- Up to 40 GSM
- 40-100 GSM
- Above 100 GSM
By Application:
- Institutional
- Educational
- Business
- Households
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa (MEA)
- East Asia
- South Asia
- Oceania
Key Questions Covered in the Report
- The report offers insight into billing paper market demand outlook for the forecast period 2021-2031
- The market study also highlights projected sales growth for billing paper market between 2021 and 2031
- Billing paper market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Billing paper market share analysis, covering key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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