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The global tissue paper market size is expected to gain massive momentum backed by increasing demand for tissues that are environmental friendly and high adoption across several industries such as hospitality, tourism, and F&B, among others. Fortune Business Insights, in its latest report, titled “Tissue Paper Market Size, Share & Industry Analysis, By Product Type (Facial Tissue, Paper Towel, Wipes, Bath & Toilet Tissue, and Others), Application (Household and Commercial), and Regional Forecast, 2019-2026.”, mentions that the market is projected to reach USD 102.57 billion by 2026, while exhibiting a CAGR of 5.9% between 2019 and 2026. The reports further states that the market was worth USD 65.66 billion in 2019.
Solenis Acquired ChemSystems to maintain its Stronghold in the Market
According to Fortune Business Insights, the companies operating in the market are striving to strengthen their position by trying to outshine their rivals in the fiercely contested marketplace. Among the companies is Solenis that is trying to gain advantage over its rivals and maintain its market stronghold. In March 2020, Solenis announced its plan to acquire the paper and pulp business of ChemSystems, an African division of AECI Ltd. The transaction is expected to get underway by the second quarter of 2020. John Panichella, CEO of Solenis said, “This acquisition is an excellent opportunity to consolidate our position in the market after our recent merger with BASF’s paper and water chemicals business.” He further said,” We have had an exceptional great work relation with ChemSystems for several years and this acquisition allows us to impart high value to the potential pulp, paper, and tissue market in South African region.”
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High Demand for Eco-Friendly Products to Drive the Market
Rampant cutting of trees across the globe is harming the environment drastically. Several effects such as increase in average temperature across several regions is causing global warming with its widespread effects taking its toll on the environment. Therefore, to limit the ill effects caused owing to mass cutting of trees, the companies are actively focussing on developing eco-friendly and biodegradable products. Furthermore, they are looking for effective ways to recycle tissue papers and adopt natural ingredients such as aloe vera and almond oil to contain spread of bacterial infection. Increasing demand for tissue papers that are safe and eco-friendly will contribute to the market growth in the forthcoming years. According to a trusted source, it is estimated that the Americans consume over 20% of the world’s toilet paper.
COVID-19 Crisis to Stoke High Demand
The ongoing global pandemic, COVID-19 is leading to a soaring demand for toilet paper and tissue papers. This is attributable to factors such as people stockpiling the tissue paper owing to the outbreak. Several specialty stores are witnessing high sales and products running out of stock at the blink of an eye. Additionally, the increased sales is expected to contribute positively for the market growth in the coming time. Furthermore, the retailers are imposing limits on the number of rolls a consumer can purchase to maintain continual flow of stock.
Merger and Acquisition Strategies by the Companies to Spur Demand
Fortune Business Insights states that the market is highly organized that comprises of several players striving to gain maximum share and consolidate their position. With fierce competition witnessed in the market, the companies are focusing on adoption of strategies such as merger and acquisition, partnerships, and collaboration, among others. Furthermore, expansion of horizon by the players to strengthen their position and offer unique products will bode well for the market growth between 2019 and 2026.
List of the Companies Operating in the Market:
Further Report Findings:
Table of Segmentation:
Value (USD Billion) Volume (Thousand Tonnes)
By Product Type