Specialty P&P Chemicals Market Expected to Grow

 
The global specialty pulp and paper chemicals market is expected to reach $25.71 billion by 2020, according to a new report available through Grand View Research—Market Research Consulting, San Francisco, Calif., USA, titled Specialty Pulp and Paper Chemicals Market Analysis by Product (Basic, Functional, Bleaching, Process Chemicals) and Segment Forecasts to 2020.

Growing demand for specialty paper is expected to be a key driver for the market over the forecast period. Technology innovation, focusing on sustainable processes to minimize environmental impact is expected to be a critical factor for market development over the next six years.

Functional chemicals were the largest product segment in the report, with market revenue of $10.23 billion in 2013. Functional chemicals are expected to grow at an estimated CAGR of 4.7% from 2014 to 2020. Surging demand for pigmented, dyed, and coated paper in industrial, consumer, and art applications is expected to drive functional chemical demand over the forecast period. 

Bleaching chemicals were the second largest product segment with market revenue of $4.23 billion in 2013.
 
Process chemicals are expected to follow functional chemicals in terms of growth at an estimated CAGR of 4.3% from 2014 to 2020. Process chemicals are used to expedite and increase the overall efficiency of the process used for specialty paper manufacturing.

Europe was the largest market for specialty pulp and paper chemicals, accounting for 42.4% of market share in 2013. The market is expected to lose share to North America on account of mature paper market in Europe coupled with growing wood and pulp industry in the U.S. and Canada.

Asia Pacific is expected to be fastest growing market, at an estimated CAGR of 7.1% from 2014 to 2020 on account of growing retail market in Japan. Indonesia, China, India coupled with expansion of pulp and paper industry in Indonesia, China and South Korea.

Specialty pulp and paper chemicals market was consolidated, with key companies being BASF, Kemira, AkzoNobel, Ashland Hercules, Dow Chemicals, ONDEO Nalco accounting for 83.0% of market share in 2013.

A summary of the report and requests for a sample copy are available online.

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