Consumer Products - Paper, Plastics, Rubber, Wood and Textile Global Market Report 2024

The consumer products - electrical and electronics market size has grown strongly in recent years. It will grow from $29.18 billion in 2023 to $30.9 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The expansion observed during the historic period can be ascribed to factors such as industrialization and manufacturing growth, increased environmental awareness and emphasis on sustainability, the expansion of global trade and markets, shifts in consumer lifestyles, and innovation in packaging materials.

The consumer products - electrical and electronics market size is expected to see strong growth in the next few years. It will grow to $38.88 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The anticipated growth in the forecast period can be linked to global economic conditions, rising market demand for functional textiles, the influence of e-commerce and advancements in packaging solutions, a notable shift towards sustainable practices, and the implementation of circular economy initiatives. Major trends expected during this period encompass the adoption of biodegradable and eco-friendly materials, the integration of digitalization in textile production processes, the exploration of wood alternatives and sustainable sourcing practices, and the increasing use of bioplastics and alternative packaging methods.

The burgeoning growth within the clothing industry is poised to propel the expansion of the market for consumer products encompassing paper, plastics, rubber, wood, and textiles in the foreseeable future. The clothing industry comprises entities engaged in the creation, manufacturing, and retailing of apparel. Utilizing various materials such as cotton, silk, denim, flannel, hemp, and others, the increasing progress within the textile industry is anticipated to significantly contribute to this market surge. For instance, as highlighted by the UK Fashion and Textile Association, the fashion and textile sector contribute approximately $21.73 billion (£20 billion) to the UK economy. Consequently, the upward trajectory of the clothing industry stands as a pivotal force behind the expansion of the consumer products-paper, plastics, rubber, wood, and textiles market.

Anticipated escalations in demand within the construction sector are expected to act as a driving force for the growth of the consumer products-paper, plastics, rubber, wood, and textiles market in the upcoming period. Embracing a spectrum of activities involving the planning, design, and implementation of diverse infrastructure projects, the construction industry significantly relies on consumer products such as paper, plastics, rubber, wood, and textiles. These products offer a range of attributes such as insulation, sustainability, versatility, energy efficiency, durability, longevity, and recyclability, which are essential within construction applications. According to a report by Oxford Economics in September 2021, global construction output is projected to surge by 42%, or $4.5 trillion, reaching USD 15.2 trillion by 2030. Hence, the escalating demand within the construction domain serves as a catalyst for the expansion of the consumer products-paper, plastics, rubber, wood, and textiles market.

Technological advancements emerge as a prominent trend gaining traction within the consumer products-paper, plastics, rubber, wood, and textiles market. Leading companies operating within this market segment are actively engaged in developing innovative technologies to maintain their competitive edge. For instance, in June 2022, Bridgestone, a Tokyo-based tire and rubber products company, in collaboration with Dow, a US-based materials science firm, introduced B-SEALS, a silicone-based tire sealant technology. This ground-breaking innovation facilitates extended mobility while maintaining sustainability by effectively separating from tires for enhanced tire repairability post-puncture. Aligned with Bridgestone's E8 Commitment's values of 'Ecology,' 'Extension,' and 'Ease,' this technology aims to optimize end-of-life tire recycling and prolong tire lifespan.

Key corporations within the consumer products sector, encompassing paper, plastics, rubber, wood, and textiles, are directing their focus toward innovative technologies such as sustainable coated paper technology as a means to drive market revenues. Sustainable coated paper technology represents an environmentally conscious and ecologically sound approach and material utilized in the production of coated paper. For instance, in May 2021, Dunn Paper Company, a US-based specialist in specialty paper manufacturing, unveiled BiOrigin. BiOrigin leverages barrier and containment technology through a fluorocarbon-free product platform that excludes styrene and chromium. Embracing bio-based coatings, this product aligns with certification standards for renewability, recyclability, and compostability. It stands as a specialty paper derived from bio-based sources and devoid of PFAS (per- and polyfluoroalkyl substances). BiOrigin serves as a plastic substitute derived from renewable resources, intended to offer enhanced functionality while presenting a significantly safer and more environmentally friendly packaging alternative.

In December 2021, NIKE, Inc., a prominent US-based sportswear company, completed the acquisition of RTFKT, Inc. for an undisclosed sum. This strategic acquisition of RTFKT further accelerates Nike's digital transformation, enabling the company to extend support to athletes and creators operating at the intersection of sports, creativity, gaming, and cultural domains. RTFKT Inc., based in the US, specializes in crafting custom sneakers tailored for video game enthusiasts, representing a strategic alignment with Nike's ongoing endeavors.

Major companies operating in the consumer products - paper, plastics, rubber, wood and textile market report are Inter IKEA Holding B.V., Nike Inc., Bridgestone Corporation, Christian Dior Société Européenne, Adidas Aktiengesellschaft, Compagnie Générale des Établissements Michelin, Hennes & Mauritz AB, Arlanxeo Holding GmbH, Kumho Petrochemical Co. Ltd., PetroChina Company Limited, Taiwan Synthetic Rubber Corporation, LG Chem Ltd., Versalis S.p.A., Dow Inc., Von Bundit Co. Ltd., Kimberly-Clark Corporation, 3M Company, International Paper Company, Georgia-Pacific LLC, Essity AB, WestRock Company, Sonoco Products Company, Packaging Corporation of America, Domtar Corporation, UPM-Kymmene Oyj, Smurfit Kappa Group plc, Mayr-Melnhof Karton AG, Mondi plc, Nippon Paper Industries Co. Ltd., Rayonier Advanced Materials Inc., Metsä Board Oyj, Stora Enso Oyj.

Asia-Pacific was the largest region in the consumer products - paper, plastics, rubber, wood and textile market in 2023. The regions covered in the consumer products - paper, plastics, rubber, wood and textile market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the consumer products - paper, plastics, rubber, wood and textile market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of consumer products, including paper, plastics, rubber, wood, and textiles, encompass wood products, paper products, plastic and rubber items, as well as furniture. Wood products encompass items made of processed or worked wood collected from trees, commonly serving as building materials. These products are distributed through both online and offline channels, catering to various applications in construction, manufacturing, industry, and other sectors.

The consumer products - paper, plastics, rubber, wood and textile market research report is one of a series of new reports that provides consumer products - paper, plastics, rubber, wood and textile market statistics, including consumer products - paper, plastics, rubber, wood, and textile industry global market size, regional shares, competitors with a consumer products - paper, plastics, rubber, wood, and textile market share, detailed consumer products - paper, plastics, rubber, wood and textile market segments, market trends and opportunities, and any further data you may need to thrive in the consumer products - paper, plastics, rubber, wood, and textile industry. This consumer products - paper, plastics, rubber, wood, and textile market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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