These are used in all offices and establishments and all are having recurring demand for these products. The demand is always growing with the increase in number of offices and industrial establishments. Paper clips are generally made from galvanized steel wire. The wire diameter depends on what size and quality clips are being made from it. Paper clips can be made from light, cheap steel, or from better quality steel, depending on the manufacturer. The material used, however, has to fall within certain physical parameters to make satisfactory paper clips. Designs or patents for early paper clips date to the middle of the nineteenth century, but none of these early devices seem to have worked well enough to have made a lasting impression. Some of these were closer in form to what is known today as a binder clip or bulldog clip, and others enfolded the entire corner of the paper within teethed overlays of thin metal. This type of paper fastener was made from stam pedsheet metal. Product innovation is the key where consumers demand a wide range of products with new innovative designs. The most important issue for the entrepreneur to ensure good quality by selecting proper quality of wires and selecting proper machine that can give proper quality of finished products.
The market potential for staple pins is vast because of the still existing paper based needs of the consumers. The global paper products market is expected to grow from INR 61004 Crores in 2020 to INR 64,502 Crores in 2021 at a compound annual growth rate (CAGR) of about 5%. The industry growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, the market is expected to reach INR78,690 Crores in 2025 at a CAGR of 5%. In countries such as India for instance, e-commerce portals have boosted the sales of paper products and paper pin manufacturers by giving larger exposure to producers who were confined to one geography.
The number of offices and industries are increasing year after year. The liberalization of industry and trade have also given birth to various commercial establishments and this provides ample scope for units manufacturing office stationery items. Since these pins and clips are having wide use in offices, and they are meant normally for a single use, there is huge potential for a quality producer. These pins find wide application to keep together sheets of paper, cheque, common known bills, album photos, bags and government files, in financial institutions, other commercial establishments even restaurants, traders' offices, garment industry, leather industry, rubber industry and any shop delivering the materials in packets and so on. The growth of these items will be consistent.
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