The global sack kraft paper is expected to be worth US$10.5 bn by the end of 2024 as compared to US$8.4 bn in 2015. The researchers estimate that the global market will expand at a CAGR of 2.6% during the forecast period of 2016 and 2024. Some of the factors that are expected to fuel the demand for sack kraft paper are features such as porosity, extensibility, printability, durability. Furthermore, this paper is also known to offer an exceptional high Tensile Energy Absorption (TEA) index of 3.8 J/g and is thus being used for industrial purposes.
The booming cement industry in the developing economies of East Asia, Africa, and the Middle East have augmented the demand for sack kraft paper. The continued growth of the construction industry across the globe as the overall economy recovers from the recent slowdown is expected to boost the uptake of sack kraft paper as well.
Builders are expected to use sack kraft paper in lieu of cement to build multiwall paper sacks for packaging, which is also projected to have a positive impact on the revenue of the global market. This material is known to act as a filter, which allows quick de-aeration and a high filling speed. Thus it has earned the status of being an excellent substitute for plastics that are regularly used in industrial packaging.
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The growing concerns amongst governments and environmentalists about the hazards of using plastic is forcing them to focus on greener alternatives. The demand for sack kraft paper is also being fueled by the steady ban on the distribution and production of plastics in several countries of the world. The ongoing technological advancements that have made sack kraft paper noticeably moisture resistant are also projected to fuel the demand for this material.