Press release
Specialty pulp and paper chemicals market to grow at 4% CAGR by 2024 | By key players Evonik Industries AG, The Dow Chemical Company, SNF Floerger, BASF SE
The product is utilized for a broad array of applications in the packaging industry, such as labeling, envelopes, release liners, laminating, gift wrapping, thermal transfers, posters, among several others.
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In addition, burgeoning demand for flexible packaging in the packaging industry may create massive scope for specialty pulp and paper chemicals industry growth over the coming year. Specialty pulp and paper chemicals market size is forecast to surpass USD 31 billion, with estimated gains at above 4% CAGR over 2016-2024.
Wide range of application in the packaging industry to sustain market demand
Specialty pulp and paper chemicals are ideal for application in gift wraps, envelopes, posters, laminations, thermal transfers, and release liners. Increasing demand for labels and specialty flexible packaging materials is likely to change specialty pulp and paper chemicals industry trends over the analysis period. With rapid expansion of electronic commerce industry and growing ease of home delivery mechanisms, flexible packaging industry may witness high demand in the coming years.
Regionally, Asia Pacific region is estimated to be a major revenue pocket for specialty pulp and paper chemicals industry. Asia Pacific market is poised to emerge as the fastest-growing regional market owing to expanding production capacities of various end user industries and impressive growth of the packaging industry. As per estimates, Asia Pacific specialty pulp and paper chemicals market is likely to reach USD 11.50 billion by the end of 2024.
Apart from Asia Pacific, Latin America is likely to emerge as a prominent specialty pulp and paper chemicals market.
Likewise, North America specialty pulp and paper chemicals market is set to reach USD 6 billion by the end of 2024. However, North America and Europe are likely to lose their market share to Latin America and Asia Pacific in the coming years on account of growing digitalization in these regions.
Demand from wastewater treatment facilities to support specialty pulp and paper business growth
Usage of specialty pulp and paper chemicals helps improving process efficiency in waste treatment. These chemicals aid in reducing the biological oxygen requirement for waste-water treatment, which does not only improve processing quality, but drastically decrease the amount of waste-water released by the industry.
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These chemicals are widely used as defoamers, flocculant polymers, retention aids and others for cleaning and managing waste-water before disposal.
Stringent environment protection mandates to offset specialty pulp and paper chemicals industry expansion
Manufacturing of specialty pulp & paper chemicals involves the usage of heavy amounts of chemicals, energy, and water, which can have severe environmental implications, including release of methane and other greenhouse gases from waste in landfills. In addition, certain chemicals used in paper & pulp industry also have negative effects on prolonged exposure. Rising awareness pertaining to these effluents has prompted regulatory bodies, such as EPA and FDA to formulate strict rules and regulations, which may act as restraints for the specialty pulp and paper chemicals market.
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https://www.marketwatch.com/press-release/leisure-boat-marine-coatings-market-to-experience-strong-demand-across-shipbuilding-sector-2020-06-16
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