$40+ Billion Paper Chemicals (Pulp, Process, Functional) Market - Global Forecast to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 29, 2018--The “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” report has been added to ResearchAndMarkets.com’s offering.
The paper chemicals market is estimated to be USD 36.4 billion in 2018 and is projected to reach USD 40.2 billion by 2023, at a CAGR of 2.0% between 2018 and 2023.
The growth in the production of packaging paper is expected to drive the demand for packaging paper. The growing penetration of paper-based packaging in the food & beverage industry is another factor likely to drive the demand for paper chemicals during the forecast period. However, the declined production of white paper due to digitization is a major factor restraining the market.
The specialty chemicals segment of the paper chemicals market, by form, is projected to register the highest CAGR during the forecast period. The growing consumer need for durability and aesthetics of paper is expected to create a demand for specialty chemicals during the forecast period. The increasing consumer awareness about sustainable packaging solution is expected to generate a demand for paper-based packaging, especially in the food and beverages packaging. This, in turn, is likely to drive the specialty chemicals segment.
Pulp chemicals is projected to be the largest segment of the paper chemicals market. The growth of the segment is mainly attributed to the demand for bleaching chemicals such as chlorine oxide, hydrogen peroxide, sodium bisulfite, and sodium chlorate. Oxygen and ozone are now being used as bleaching agents, which is expected to drive the segment during the forecast period.
The APAC paper chemicals market is projected to register the highest CAGR between 2018 and 2023. The growth of the paper chemicals market in the region is mainly attributed to the shift of pulp and paper production facilities in the region from North America and Europe.
Moreover, the presence of key manufacturers of paper chemicals is expected to fuel the APAC paper chemicals market during the forecast period. China, India, and Japan are the leading pulp and paper producers in the region. Capacity expansions by pulp and paper producers in India and Southeast Asia are further expected to create a demand for paper chemicals in the region.
Some of the key companies profiled in this report such as 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 leading paper chemicals manufacturers, globally.
DriversPersistent Growth in Production of Packaging Paper
RestraintDeclining Production of Graphic Paper Due to Digitization
OpportunityBio-Refineries: New Growth Avenues for Pulp Chemicals Producers
ChallengeDownturn in Paper Production of China Due to Strict Regulatory Scenarios
Companies MentionedAkzonobel N.V. Archroma Ashland Inc Axchemgroup BASF SE Buckman Laboratories International, Inc. Chemisphere Paper Technologies Ecolab Flourish Paper and Chemicals Ltd Harima Chemicals Group, Inc. Ivax Paper Chemicals Ltd Kemira OYJ Kolb Distribution Ltd Papertex Speciality Chemicals Pvt. Ltd Peroxychem Shree Chlorates Solenis Thermax Global
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Related Topics:Pulp and Paper
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS OTHER MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 11/29/2018 11:10 AM/DISC: 11/29/2018 11:10 AM