Market for converted paper product manufacturing expected to reach $422 Billion by 2020

Feed: 2793 - Date: 11/28/2017 - Views: 487

“The Market for Converted Paper Product Manufacturing is Expected to Reach $422 Billion by 2020,” accordting to TBRC.

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Converted Paper Product Manufacturing market is worth $371 billion globally, or about 34.6% of the total Paper Products Manufacturing market, which also includes
 
– Paperboard Container Manufacturing market as the biggest segment at 54%
 
– Paper Bag and Coated and Treated Paper Manufacturing market at 17%
 
– Sanitary Paper Product Manufacturing market at 15.1%
 
– Stationery Product Manufacturing market at 8.6%
 
– All Other Converted Paper Product Manufacturing market at 5%
 
The market is majorly driven by Shift to Automation to Increase Efficiency. The paper industry has been shifting from labor intensive manufacturing processes to automated production facilities. Automation has enabled converted paper product companies to enhance productivity and reduce production costs. These technologies are also saving energy cost. Control systems such as integrated drive systems (IDS) are improving plant efficiency by minimizing energy consumption and simplifying service and maintenance processes. For instance, Swedish company Stora Enso Partbnis partnered with Siemens to automate its Skoghall facility. Converted pap product manufacturers should consider investing in automation technology to improve plant efficiency and productivity, according to The Business Research Company, a research publisher and consulting firm.

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