NEWARK, Del, Sept. 02, 2022 (GLOBE NEWSWIRE) -- The global tracing paper market is expected to be valued at US$ 459.7 Mn in 2022 with a rather stagnant CAGR of 2.4% over the estimation period from 2022 to 2032. The market size is anticipated to reach US$ 583.9 Mn by the end of 2032. The global market surpassed a valuation of US$ 449.2 Mn in 2021.
According to the historical projections by FMI, the tracing paper market was valued at US$ 449.2 Mn in 2021, at a CAGR of 1.0% throughout the historical period. The surging use of this type of paper for tracing an image or graphic is applicable in a wide range of industries which is likely to boost growth. The top 3 countries in the tracing paper market are projected to hold 30-40% of the global share by 2022.
When it comes to thickness, the 81-100 GSM segment is expected to possess the major portion of the global market owing to its lightweight and high-quality properties. According to FMI projections, this segment is expected to hold 39% of the market share by the end of 2022.
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Key manufacturers in the tracing paper market are concentrating on expanding their production capacities and resources in order to cater to the surging demands worldwide. Besides that, prominent market players are also focusing on mergers and acquisitions to strengthen their presence, expand their product portfolios, and boost resources.
More Insights into the Tracing Paper Market
Germany is projected to dominate the market growth in the European region, accounting for a total of 23% of the revenue share in the market across the valuation period. Expansion of the construction industry in Germany is projected to augment sales.
The Indian tracing paper market is expected to create a lucrative growth opportunity with a total valuation of US$ 16.7 Mn during the forecast period. The rapid expansion of the textile industry in the country is set to aid growth.
Tracing Paper Market Outlook By Category
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