June 22, 2024
Seal Paper Market

Seal Paper Market is Adopting Eco-Friendly Trends by Increasing Sustainable Production

The seal paper market is used extensively for sealing envelopes, packaging products for shipping and storage due to its adhesive properties. Seal paper provides an effective and affordable solution for sealing and securing various items during shipping and storage. It avoids the need for additional binding materials like glue or tapes.

The global seal paper market is estimated to be valued at US$ 18.25 Mn in 2024 and is expected to exhibit a CAGR of 14% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the seal paper market are Algenol, Solazyme (TerraVia Holdings), Sapphire Energy, Cyanotech Corporation, Algae Systems, E.I.D.- Parry (India) Limited (Parry Nutraceuticals), Evonik Industries, Cargill, Incorporated, DIC Corporation (Spirulina production), Cellana. The seal paper market is witnessing high growth owing to increasing demand from packaging and shipping industries. The growth can also be attributed to rising e-commerce sales and expanding global trade. Manufacturers are focusing on developing sustainable and eco-friendly seal papers to gain market share and cater to changing customer preferences.

Market key trends

One of the major trends gaining traction in the Seal Paper Market Demand is the increasing adoption of sustainable production practices. Growing environmental concerns are pushing manufacturers to reduce waste and use recycled or biodegradable materials in paper production. Some key players have started using agricultural waste, non-wood fibers and algae as raw materials. This helps lower carbon footprint and reliance on forest resources. Adopting renewable resources and clean technologies helps compliance with various regulatory mandates and appeals to eco-conscious customers. Sustainable production is expected to drive the seal paper market over the forecast period.

Porter’s Analysis

Threat of new entrants: Seal Paper has high initial capital requirements and established companies have economies of scale advantages in purchasing, marketing and R&D which make the barriers for new companies high.

Bargaining power of buyers: Seal Paper buyers have moderate bargaining power as there are few substitute products and buyers cannot shift demand easily to substitutes. However, large buyers have some negotiating power due to their market share.

Bargaining power of suppliers: Seal Paper relies on a few raw material suppliers who have some control over prices due to specialized product requirements which gives them moderate bargaining power.

Threat of new substitutes: Seal Paper has few product substitutes and face low threat from substitutes. Switching costs are high for customers using established sealing papers.

Competitive rivalry: Seal Paper market has several sizable competitors globally resulting in high competition.

Geographical regions of concentration: North America and Europe hold the major share of around 60% of the global seal paper market value due to high demand from food packaging industries in these regions.

Fastest growing region: Asia Pacific region is expected to be the fastest growing region during the forecast period due to rapid growth of e-commerce and food delivery sectors in countries like India and China driving increased need for tamper evident packaging with seal papers.

*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.