Paper is part of the overall wood products industry and its applications impact the daily lives of individuals. Generally, paper is used for writing, printing or packaging and is manufactured with wood pulp and other fibre materials. Global paper market is highly fragmented. Overall paper market is experiencing stable growth attributing to rising disposable income, rapid urbanisation and change in consumer preferences.
Global paper products market is segmented into three sub-sectors namely printing & newsprint paper, paper boards & corrugated paper and tissue & paper packaging. Of these, tissue & paper packaging segment is anticipated to witness stable growth owing to growing packaging and tissue paper demand because of increasing population, rising food consumption and improvement in hygiene standards. Conversely, outlook for printing & newsprint paper segment is expected to witness negative growth due to growing adoption of digitalization.
Global wood products industry involves wood pulp, sawnwood, paper, fuel wood, industrial roundwood, wood panels, plywoods, wood plastic composites (WPC) and plastic lumber. Wood products are majorly used in building and construction industry serving essentially to housing sector from furniture to other household products.
Drivers such as recovering global economy and rising use of wood products in the end-user application areas are expected to increase demand of wood products. Wood plastic composite (WPC) is one of the most extensively used wood products in building & construction industry with applications including fencing, decking, siding and moulding applications. WPC is preferred in various manufacturing and building operations due to its superior mechanical strength, low maintenance and lightweight.
Presently, wood plastic composites are witnessing growing application scope across decking and fencing applications which is expected to drive the WPC products market. In addition, demand for WPC products in automotive industry is expected to increase extensively owing to growing focus of automotive OEMs towards biodegradable auto-components like seat cushions, door panels, dashboard, cabin lining and backrests. For such applications, WPS incorporates wood from oak, maple and pine.
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