According to a latest report, published by Transparency Market Research (TMR), the global specialty pulp and paper chemicals market, which stood at US$18.67 bn in 2013, is expected to reach US$25.41 bn by the end of 2020. If the figures hold true, the global specialty pulp and paper chemicals market will exhibit a positive CAGR of 4.5% between 2014 and 2020. The report is titled “Specialty Pulp and Paper Chemicals Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020” and is available on the company’s website for sale.
The report identifies and presents insights into the factors impacting the market’s growth over the forecast period from 2014 to 2020. It cites that growing demand for graphic papers, tissues, diazo paper, and other specialty papers worldwide are giving an impetus to the global market for specialty pulp and paper chemicals. Since these papers are extensively used for packaging perishable and non-perishable goods from primary, secondary, and tertiary industries, any development in these industries directly impacts the market for specialty paper and pulp chemicals. Furthermore, the market’s growth is also impacted by growth trends exhibited by the packaging industry.
Specialty chemicals offer several benefits that have helped this market expand over the past few years. Compared to commodity chemicals, specialty chemicals reduce the consumption of water, and thereby ensure reduced wastage. This the report identifies as a key factor fuelling demand for specialty chemicals in packaging industries. While growth demonstrated by the global specialty pulp and paper chemicals market in the last few years has been positive, stringent regulations imposed on the use of specialty chemicals are curbing its usage. The market is therefore negatively affected by such regulations. Nevertheless, as reported by a senior TMR analyst, “Development of next-generation enzymes will open new growth avenues for the market in the forthcoming years.”
The report identifies functional chemicals as the largest product segment in the specialty pulp and paper chemicals market. In 2013, the functional chemicals segment accounted for over 45% of the market. The segment is also expected to demonstrate the fastest growth during the report’s forecast period due to the escalating demand for pigmented specialty papers from the printing and packaging markets. Furthermore, process chemicals such as biocides, chelating agents, and defoamers are also anticipated to witness a significantly high demand through the report’s forecast period.
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Among the key regional markets, Asia Pacific emerged as the largest market for specialty pulp and paper chemicals in 2013. The report forecasts the region to continue dominating the global market through the forecast period. Increasing demand for specialty papers from regional packaging industries will keep the demand for specialty pulp and paper chemicals high in Asia Pacific. Additionally, capacity additions to the existing facilities of specialty pulp and paper will also fuel demand for related chemicals in the near future. The report forecasts the Asia Pacific market to expand at a CAGR of over 4% between 2014 and 2020.