Paper cones are widely used for winding and shipping various construction materials such as electrical cables and wires and provide various advantages such as robustness, cost-effectiveness, and easy recyclability. These cones help protect electrical cables and wires from damage during transportation and installation. The growing construction industry worldwide is driving the demand for electrical cables and wires, which in turn is boosting the paper cone market.

The global paper cone market is estimated to be valued at US$ 8.05 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growing construction industry has been a major driver of the paper cone market over the past few years. Strengthening economic growth in developing regions has increased construction spending. Additionally, rapid urbanization has fueled the development of residential and commercial infrastructure in these regions. The demand for paper cones has grown in tandem with the rising need for electrical cables and wires from the construction industry. Furthermore, many countries are focusing on upgrading their existing infrastructure which has further augmented the demand for wires and cables. This trend is expected to continue over the forecast period and drive the paper cone market, enabling it to maintain a double-digit CAGR during the forecast timeframe.

Segment Analysis
The global paper cone market is segmented by material type into wood pulp and kraft paper. The kraft paper segment dominates the market and is expected to witness a higher growth during the forecast period. Kraft paper cones are widely used in the paper packaging industry due to its high tensile strength and ability to withstand harsh conditions during transportation and storage without deformities and structural damage. These cones find extensive application in rewinding applications across various end-use industries.

Key Takeaways
The Global Paper Cone Market Size is expected to witness high growth.

Regional analysis: The Asia Pacific region is projected to witness fastest growth in the paper cone market during the forecast period. Rapid growth of the packaging industry across economies like China, India, Japan and other Southeast Asian countries due to rising domestic consumption and exports is expected to drive higher demand for paper cones in the region. China is anticipated to account for over 30% of the global paper cone demand, supported by presence of leading paper packaging manufacturers in the country.

Key players operating in the paper cone market include Prysmian Group, TechnipFMC plc, Saipem S.p.A., DeepOcean Group Holding BV, Schlumberger, Halliburton, NOV Inc., Vallourec, Oceaneering International, and Siemens. Prysmian Group offers an extensive range of paper cones such as precision wound cones, standard cones, and lightweight cones that find applications in cable transportation and telecommunication industries.

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