(MENAFN- GlobeNewsWire - Nasdaq) Tracing paper market size from USD 498.6 million in 2023 to USD 663.5 million in 10 years. Increasing growth in the construction industry will drive the market's growth. Asia Pacific emerged as the largest global tracing paper market, with a 37.6% market revenue share in 2023.
Newark, April 24, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 498.6 million tracing paper market will reach USD 663.5 million by 2033. Due to the growing need for tracing paper in engineering, architecture, and craft, the market for tracing paper has grown steadily in recent years. The market is anticipated to expand moderately in the coming years due to developments in printing and reproduction technology. However, the market also has to contend with issues like the accessibility of digital substitutes and environmental issues associated with paper manufacturing. The market for tracing paper offers both long-standing companies and recent arrivals the chance to profit from the rising need for tracing paper across various industries. Market sales are anticipated to be boosted by the growing need for recyclable tracing solutions in various applications, including painting and drawing. For the duration of the projection, the market is expected to increase at a 1.3x rate. A further contributing factor to the expectation of an increase in the global market for tracing paper is the growing use of coding in the technical drawing industry. Construction drawings must also include transparent papers to produce precise and comprehensive designs. Workers in the construction industry might save time and money by simply tracing the image and identifying the edges in photos.
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Asia Pacific will account for the largest market size during the forecast period.
A growing number of architectural and design projects are being undertaken in several Asia Pacific countries in tandem with the rapid advancement of urbanisation and infrastructural development. According to a TOI article, the real estate and architectural sectors were valued at a substantial 1.72 billion dollars (about Rs 12,000 crore) in 2019 and are projected to grow to roughly 65,000 crores by 2040. Based on projections, India's real estate and architecture sectors are expected to grow significantly by 2030, reaching an astonishing $1 trillion, or around 13 per cent of the country's GDP, from $200 billion in 2021. Tracing paper is an essential component of the painstaking process of making drawings and blueprints for these big projects. In addition, China's market maintained the largest market share in the Asia-Pacific region, with the Indian tracing paper market growing fastest.
The cellulose fiber segment dominated the market with the most significant revenue of USD 209.4 million.
The cellulose fiber segment dominated the market with the most significant revenue of USD 209.4 million. The environment generates less waste with the natural breakdown of cellulose fibres into various components. By giving nutrients to the soil that stimulate the growth of organic materials and plants, composting these fibres can help minimise waste. Furthermore, because cellulose fibres are lighter than conventional materials, they aid in lowering the carbon footprint associated with distribution and transportation processes.
The photographic & cinema lighting segment dominated the market with the most significant revenue of USD 124.6 million.
The photographic and cinema lighting segment dominated the market, with the most significant revenue of USD 124.6 million. Tracing paper is frequently used as a light modulator in the photography and film industries, making it a vital tool for photographers and cinematographers. Light sources are covered with tracing paper to provide a softer, more diffused light. This tool is necessary for many cinematic lighting setups, portraiture, and product photography.
Market Dynamics:
Drivers: Rapid expansion in the construction industry
Tracing paper is typically smoother and more resilient to tearing than ordinary paper. Drafting is made easy by the transparency that is offered. It is also used by building and architectural drawing, digital printing and photography, lamination and embossing films, and other sectors. Furthermore, cellulose fibre makes it easier for moisture to be absorbed. VellumIn the construction and architectural industries, tracing paper is usually used for engineering and drawing purposes. Building and remodelling projects will increase globally, fueling the tracing paper market's expansion.
Restraint: Availability of digital alternatives
Due to the development of digital tracing pads and software, designers, architects, and artists now have a useful and efficient substitute for traditional tracing paper. Given that these digital options offer features like easy editing, sharing, and storage, they might pose a challenge to the market for conventional tracing paper.
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Some of the major players operating in the tracing paper market are:
● Domtar Corporation
● Nekoosa Coated Products LLC
● FILA-ARCHES sas
● Jiangxi Five Star Paper Co. Ltd
● Yulu Paper Industry Co. Ltd
● Qingdao Focus Paper Co. Ltd
● Koehler Paper Group
● Pixelle Specialty Solutions
● Reflex GmbH & Co. KG
● Thermal Solutions International Inc.
● Arjowiggins
● Peters Papers
● Tekiner
● Double Tree Paper Industry Group Co. LTD
Key Segments cover in the market:
By Material:
● Recycled Fiber
● Cotton Fiber
● Cellulose Fiber
By Application:
● Drawing
● Embossing
● Printing
● Photographic & Cinema Lighting
● Lamination
● Others
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About the report:
The global tracing paper market is analyzed based on value (USD Million). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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