Specialty P&P Chemicals Market to Reach $24.18 Billion in 2019
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According to a new report published by Transparency Market Research, New York, N.Y., USA, titled Specialty Pulp and Paper Chemicals (Basic, Functional, Bleaching and Process Chemicals) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 - 2019, the specialty pulp and paper chemicals market was valued at $17.94 billion in 2012 and is expected to reach $24.18 billion by 2019, growing at a CAGR of 4.4% from 2013 to 2019.
Specialty pulp and paper chemicals are used in a variety of functions such as deinking, bleaching, and coating during the production of specialty papers. Specialty paper is a niche segment and accounted for less than 5% of the overall paper production. However, the increasing demand for specialty papers in a wide range of industries for abrasive backings, paint masking, carpet flooring, medical packaging, and art media is expected to drive the demand for the market. In addition, growing global population that in turn drives businesses, consumer sector, industrial sector, food, and graphics is expected to contribute to the growth of the market.
Nevertheless, increasing environmental concerns regarding certain chemicals used in the production of specialty papers is expected to hamper the growth of the specialty chemicals market. Development of new chemicals and technologies in the manufacturing of specialty papers coupled with the growing demand for recycled paper is expected to open new opportunities for the growth of the market.
Functional chemicals were the largest product segment and accounted for more than 50% of the market in 2012. This segment is expected to be the fastest growing due to increased demand for value added paper such as pigments, dyes, and coated paper. Process chemicals were the second fastest growing segment and are expected to grow at a CAGR of more than 4% from 2013 to 2019.
North America and Europe dominated the market, together accounting for more than 80% of global consumption in 2012. However, Asia Pacific, expected to become the fastest growing, is estimated to have a value of approximately $4 billion by 2019. The primary reason for this is expected to be the growing paper industry in India and China.
More information is available online.
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