The paper chemicals market is expected to reach USD 43.91 Billion by 2028, according to a new report by Reports and Data. The paper enterprise is a vast and increasing portion of the world's economy. Paper production has expanded globally and will continue to develop shortly.
Paper packaging is the principal asset for the food industry. It is environment-friendly and also improves the benefit for consumers. There is competition in the food and beverages market between those who produce quality products to the consumers. The food production companies are becoming careful, and they are executing efforts for the packaging of products. Several ranges of packaging materials in the market are accessible to satisfy various packaging needs, like cardboard and corrugated boxes.
The increasing demand for paper merchandise, such as wraps, cups, and baggage, from the food industry and the usage of paper in print media, such as newspapers and magazines, will also expand the demand for paper. This will influence chemical manufacturers to produce new and advanced products, which, in turn, will boost the market growth possibilities.
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The Key players in the Paper Chemicals Market include BASF, Kemira Oyj, Akzonobel N.V., Archroma, Solenis, Ecolab, Harima Chemicals Group, Ashland Inc., Buckman Laboratories International Inc, and Chemisphere Paper Technologies.
The fundamental factors that stimulate the growth of the market include growing consumer awareness towards sustainable materials, increasing awareness of ecological issues around the world, due to its environment friendly nature and cost-effectiveness, the recyclable capacity of paper, and others. The Asia Pacific Market is expected to rise with the highest CAGR of 2.0% during the forecast period.
Further key findings from the report suggest
- The paper chemicals market is estimated to reach USD 43.91 Billion by 2028, at a CAGR of 1.9% during the forecast period.
- The application in writing printing accounted for the largest share of 25.3% of the market in 2018.
- The specialty form segment accounted for a larger share of 62.8% of the market in 2018.
- The functional chemical type is expected to witness the highest CAGR of 2.1% during the forecast period.
- Rising per capita income has observed more consumption of the product, which has encouraged the growth of the market in the Asia Pacific region.
- North America is an advanced market owing to the availability of higher quality of infrastructure and technology. The North America market is expected to rise with a CAGR of 1.9% during the forecast period.
- Various players are developing strategies to mark their presence in the industry.
- Solenis and BASF acknowledged an agreement to merge BASF’s paper and water chemicals business with Solenis in May 2018, to collectively create a customer-focused global specialty chemicals company. The combined industry is anticipated to operate under the Solenis brand and will present increased offerings and cost-effective solutions for customers in industrial water technologies and paper technologies.
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For the purpose of this study, Reports and Data have segmented the market on the basis of Application, Chemical Type, Form, and region:
Application Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2018-2028)
- Writing Printing
- Packaging
- Labelling
- Building Construction
- Others
Chemical Type Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2018-2028)
- Pulp Chemicals
- Process Chemicals
- Functional Chemicals
Form Outlook (Volume, Kilo Tons; and Revenue, USD Billion ; 2018-2028)
- Specialty
- Commodity
Regional Outlook (Volume, Square Meters; and Revenue, USD Billion ; 2018-2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
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