NEW YORK, June 24, 2024 /PRNewswire/ — The global paper starch market size is estimated to grow by USD 7.12 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.17% during the forecast period. The paper starch market is on an upward trajectory, fueled by the rising demand for recycled paper and its applications in various industries.
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However, the industry faces headwinds from digitization and the need for sustainable practices.
Growth Drivers:
- Recycled Paper Boom: The increasing use of recycled paper, which requires starch for maintaining fiber quality, is a major growth factor. Environmental concerns and the adoption of the 3Rs principle (Reduce, Reuse, Recycle) are driving this trend.
- Multi-Industry Applications: Paper starch finds use as a binder in paper, textiles, and as a thickener/stabilizer in food. This versatility broadens the market’s reach.
- Sustainability Edge: Paper starch is a renewable resource, aligning with the growing preference for eco-friendly products.
- Market Challenges:
- Digital Disruption: The shift towards digital documents and e-learning platforms due to advanced electronics and cloud computing is a significant challenge.
- Alternative Starch Sources: The growing demand for biodegradable products is pushing companies to explore alternatives to traditional corn and potato starch sources.
- Price Volatility: Fluctuations in the prices of raw materials like corn and potatoes can impact production costs.
- Competition: The market experiences competition from synthetic alternatives, necessitating continuous innovation and cost-effectiveness for paper starch manufacturers.
Segment Analysis:
- Corn Starch Leads the Way: Corn starch dominates the market due to its effectiveness in enhancing surface improvement, dry strength, and wet-end sizing in paper manufacturing.
- Beyond Paper: Paper starch finds applications in packaging paperboard, printing and writing paper, and other industrial uses.
Geographic Landscape:
The report analyzes the paper starch market across regions like North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
Future Outlook:
Despite the challenges, the paper starch market is expected to witness considerable growth in the coming years. Its diverse applications, eco-friendly nature, and continuous research and development efforts are likely to propel the market forward.
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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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SOURCE Technavio
