The machine glazed paper market is expected to reach US$ 13.81 billion in 2023 and is likely to be worth US$ 21.63 billion by 2033. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
Machine glazed papers have emerged as the preferred packaging alternative for various industries due to their excellent blend of sustainability and aesthetics
The use of machine-glazed papers has increased tremendously, over the last ten years. Moreover, product packaging has evolved significantly over time. Everyone from manufacturers to retailers is seeking smarter, greener, and more appealing packaging choices to suit customer demands. Because of their remarkable strength and optimum balance of gloss and smoothness, these sheets have become the new standard in packaging.
Growing demand for the product due to its high strength and perfect balance of gloss and smoothness, rising preferences for superior printing quality and sustainable packaging, and an increase in applications from various industries such as healthcare, food & beverages, automotive, textile, personal care, and others are a few insightful and impactful factors expected to drive the machine glazed paper market during the forecast period.
On the other hand, increased levels of investment in biodegradable packaging and programs encouraging sustainable packaging are likely to generate attractive potential prospects, resulting in the machine glazed paper market expanding throughout the forecast period.
High recycling prices and raw material price volatility are projected to stymie the expansion of the machine glazed paper market over the forecast period. The increasing difficulty in eliminating the residue left behind is expected to be the primary hurdle for industry expansion.
Key Points from the Machine Glazed Paper Market
- One of the factors driving the machine glazed papers market is the increasing demand for the product due to its high strength and ideal combination of gloss and smoothness.
- The machine glazed paper market is expected to record a CAGR of 4.6% during the forecast period 2023 to 2033.
- Asia Pacific dominated the machine glazed paper market.