Over the anticipated years of 2022 to 2032, the specialty pulp and paper chemicals market is anticipated to register an amazing growth rate of 3.1%. The specialty pulp and paper chemicals industry is expected to grow from its present valuation of US$ 22 billion in 2022 to a size of about US$ 30 billion by the end of the year 2032.
The use of functional chemicals to enhance paper performance by introducing distinctive qualities and features to optimise manufacturing, reinforce competitive advantage, and bring consumer advantages in standard items is fueling the growth of the specialty pulp & paper chemicals market.
The demand for paper publications has significantly reduced since the advent of the digital era, which has had an impact on the market for speciality papers with glossy finishes. And throughout the upcoming years, it is anticipated that the expansion of advanced electronic media would have a significant impact on market trends for specialised pulp & paper chemicals.
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However, with the increasing use of speciality papers for the packaging industries, market growth for speciality pulp and paper chemicals is predicted to stay positive from 2022 to 2032. The increasing utilisation of speciality paper in food packaging products such over-the-counter service bags, tissue papers, platters, and tumblers in this application sector is fueling the rising trends in the specialty pulp & paper chemicals market.
Functional chemicals, which are mostly composed of hardening agents like starch, latex, binders, colouring pigments, and other additive compounds, are the most well-known specialised pulp & paper chemicals market items. The most significant product category for the global market is utilised to improve the print quality, colour, consistency, water resistance, and strength of speciality paper.
Key Takeaways from Market Study
- The absolute growth of the global specialty pulp & paper chemicals market size is figured out to get around US$ 8 Billion over the next 10 years by following its global CAGR of 3.1%.
- The most sought-after chemicals for the manufacturing of specialty paper are the functional chemicals, which makes this market segment the leader with an impressive growth rate of around 2.5%.
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- Among the several application category, the packaging industry is the major contributing segment by holding a share of just under 40%.
- With a significant number of specialty pulp & paper chemicals producers present in the Asia Pacific geographical area, it continues to be the most prosperous market for the global supply of the commodity
- The erstwhile market for specialty pulp & paper chemicals in Europe accounted for almost 30% of the share that is gradually shifting to the other emerging economies.
- The specialty pulp & paper chemicals market growth in Latin American countries is predicted to get around 5% over the forecasted years.
Competitive Landscape
Some of the well-known specialty pulp & paper chemicals market players are Ashland, BASF SE, Buck man, Dow Chemical Company, Ecolab, SNF Group, Evonik Industries AG, Nouryon, and So lenis among others.
The industry is highly fragmented as a result of the long-standing existence of the very well performing specialty pulp and paper chemicals market competitors. The majority of the top participants in the global specialised pulp and paper chemicals market are relatively concentrated across the Asia Pacific region for acquiring raw materials and labour at cheaper price to remain competitive in the market.
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Specialty Pulp & Paper Chemicals Market by Segmentation
By Product Type :
- Basic Chemicals
- Functional Chemicals
- Bleaching Chemicals
- Process Chemicals
By Application :
- Printing
- Packaging
- Labeling
- Others
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