Absorbent Paper Market worth $177.3 billion by 2028, at a CAGR of 5.6 %, says MarketsandMarkets™

Chicago, March 11, 2024 (GLOBE NEWSWIRE) — The Global Absorbent Paper Market size is estimated to be USD 135.0 billion in 2023 and projected to reach USD 177.3 billion in 2028, at a CAGR of 5.6%, as per the recent study by MarketsandMarkets™. Increasing demand for surgical drapes and gowns in healthcare sector. Stricter industry regulations, advancing technology, and rising awareness of hygiene and sanitation contribute to the expanding adoption of sophisticated absorbent paper products.  

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List of Key Players in Absorbent Paper Market:          

  1. Kimberly-Clark Corporation (US)
  2. International Paper (US)
  3. Pulp & Paper Products, US)
  4. Georgia-Pacific LLC. (US)
  5. Metso Group (Finland)
  6. Ahlstrom (Finland)

Drivers, Opportunities and Challenges in Absorbent Paper Market

  1. Drivers: Rising hygiene and sanitation awareness
  2. Restraint: Increased competition from alternative materials
  3. Opportunity: Growing healthcare sector, leading to higher demand for surgical drapes and gowns
  4. Challenge: Sustainability concerns related to absorbent paper products

Key Findings of the Study:

  1. The tissue product type is the second fastest growing product type, in terms of value, during the forecast period.
  2. Based on the application, medical paper & sheets application is the third fastest growing application in terms of value in the absorbent paper market.
  3. Based on the end-use industry, the packaging end-use industry is estimated to be the second fastest-growing segment of the absorbent paper market.
  4. North America is the second fastest growing region, in terms of value, during the forecast period in the absorbent paper market.

On the basis of product type, the tissue product type is expected to lead the market in terms of value in 2023 due to its widespread applications in hygiene, medical, and household sectors. Tissue products like facial tissues, toilet paper, and paper towels are essential commodities, driving consistent demand and higher market value compared to other product types. 

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On the basis of application, the toilet tissue segment is expected to dominate the absorbent paper market in value owing to its indispensable role in daily hygiene practices worldwide. As a fundamental necessity in households, commercial spaces, and public facilities, toilet tissue commands a continuous and significant demand. Its essential nature ensures consistent consumption and drives higher market value compared to other applications within the absorbent paper market.

On the basis of the end-use industry, the personal care and home care segment is poised to spearhead the absorbent paper market in value due to the indispensable role of products like facial tissues, paper towels, and toilet paper in maintaining hygiene standards at home and in personal care settings. With a constant demand for these essentials, driven by hygiene consciousness, this segment consistently commands a significant share of the market value.

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Based on region, Asia Pacific is projected to dominate the absorbent paper market in value due to its vast population, rapid urbanization, and increasing disposable incomes. With a growing demand for hygiene products like tissues and paper towels, coupled with expanding industrial and commercial sectors, the region exhibits sustained consumption patterns, driving higher market value compared to other regions globally.

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CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com

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