Specialty papers are made from specialty pulp and paper chemicals. Specialty chemicals are used in high quality packaging materials or special papers (not utilized in common printing or publishing shops). Their applications include labeling, graphic arts, filtration, and other industrial procedures. One of the main propellers of the specialty pulp and paper chemicals market comprises demand for specialty chemicals across Asia Pacific.
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Moreover, demand for bio-friendly products and execution of sustainable procedures by manufacturers would raise the demand for these chemicals. The market is projected to reach USD 25.7 billion by 2020. Technologies that minimize environmental impact are yet another prominent driver. High costs of raw materials can hinder the specialty pulp and paper chemicals market.
Market products are functional, bleaching, basic, and process. Functional chemicals were the biggest product in 2013. They are predicted to witness the fastest growth (4.7 % CAGR) during 2014 to 2020 (forecast phase). Their incomes were USD 10.2 billion in 2013. Demand for pigmented and dyed papers in industrial applications will propel the growth of functional chemicals in the next six years.
Process chemicals were the second biggest product and would have an expected 4.3% CAGR in the future. They improve the overall efficiency of specialty papers. Bleaching chemicals are widely used in the pulp industry to lighten the color and increase the clarity of pulp. They earned USD 4.2 billion in 2013.
Europe had the largest specialty pulp and paper chemicals market in 2013, capturing above 40% shares that year. It will lose its shares to North America due to the pulp and wood industry of Canada and the U.S. and recognized paper market of Europe. Asia Pacific would remain the fastest growing market, with 7.1% CAGR in the forecast phase. This could be attributed to the expanding paper and pulp industry in Indonesia, South Korea, and China.
Key companies of the global specialty pulp and paper chemicals market include ExxonMobil Chemicals, Shell Chemicals, AkzoNobel, Clariant, and BASF. They can gain foothold by reducing the costs of products in saturated regions. Specialty pulp and paper chemicals have bright prospects because of new chemicals and advanced technologies.
Information Source: Grand View Research