CHICAGO, November 14, 2018
CHICAGO, November 14, 2018 /PRNewswire/ --
According to the new market research "Paper Chemicals Market by Form (Specialty Chemicals, Commodity Chemicals) Type (Pulp Chemicals, Process Chemicals, Functional Chemicals), and Region (Asia Pacific, Europe, North America, Rest of World) - Global Forecast to 2023", published by MarketsandMarkets™, the Paper Chemicals Market is projected to grow from USD 36.4 billion in 2018 to USD 40.2 billion by 2023, at a CAGR of 2.0%.
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The growth of the Paper Chemicals Market can be attributed to the growing production of packaging paper due to the high demand for paper-based packaging over plastic-based packaging. Moreover, the increasing awareness about sustainable packaging and increasing per capita expenditure on food and beverages have created a high demand for paper-based packaging. These factors are expected to fuel the Paper Chemicals Market during the forecast period.
The pulp chemicals segment of the Paper Chemicals Market is projected to account for the largest share during the forecast period, in terms of value.
Based on type, the Paper Chemicals Market has been segmented into pulp chemicals, process chemicals, and functional chemicals. In terms of value, pulp chemicals is projected to be the largest segment during the forecast period. The growth of this segment is mainly attributed to recent capacity expansions in pulp production, especially in Europe and APAC. The growing penetration of oxygen and ozone as bleaching agents is further expected to drive the pulp chemicals segment of the market during the forecast period.
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On the basis of form, the specialty chemicals segment is estimated to account for the largest share of the Paper Chemicals Market during the forecast period, in terms of value.
The specialty chemicals segment is estimated to account for the largest share, in terms of value. Specialty chemicals mainly include the functional and process chemicals such as fillers & surface coating agents, sizing agents, strength enhancement chemicals, softeners and binders, coagulants & flocculants, defoamers, and retention and drainage aids. The growth of this segment is mainly attributed to the high demand for superior properties such as durability, color strength, and aesthetics. The growth is further backed by the demand for packaging papers for packaging food and beverage products.
The APAC Paper Chemicals Market is projected to register the highest CAGR during the forecast period, in terms of value.
The Paper Chemicals Market has been studied for APAC, North America, Europe, and Rest of World. The APAC Paper Chemicals Market is projected to register the highest CAGR during the forecast period, in terms of value. Over the past decades, the pulp and paper production has moved from North America and Western Europe to Asia, predominantly in China. This creates an immense opportunity for the consumption of paper chemicals in the region. The region has an immense population, and there is a growing need for paper and paperboard packaging in various industries such as food & beverage, electrical & electronics, industrial packaging, and others.
Kemira Oyj (Finland), BASF (Germany), Solenis (US), Akzonobel N.V. (Netherlands), Ecolab (US), Ashland Inc. (US), Harima Chemicals Group (Japan), Buckman Laboratories International Inc. (US), Archroma (Switzerland), and Chemisphere Paper Technologies (South Africa) are the key players operating in the Paper Chemicals Market.
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