ALBANY, N.Y.--(BUSINESS WIRE)--According to a recent report published by Transparency Market Research, the global industry for specialty pulp and paper chemicals stood at US$18.67 billion in 2013. The market is likely to expand at a 4.5% CAGR during the period of 2014 to 2020 and total US$25.41 billion by the end of the forecast period.
The report, titled “Specialty Pulp and Paper Chemicals (Bleaching Chemicals, Process Chemicals, Functional Chemicals and Basic Chemicals) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”, states that in 2013, the demand for specialty pulp and paper chemicals had reached 28, 283.8 kilo tons worldwide. The increasing demand for graphic papers, tissues and other specialty papers is the key driver for this growth.
In 2013, the functional chemicals market accounted for more than 45% of the overall specialty pulp and paper chemicals market, making it the largest product segment. It is also expected to register the fastest growth during the forecast period, in response to increasing demand from the printing and packaging industry for pigmented specialty papers with multiple textures. The process chemicals market will also experience significant growth in demand during the forecast period.
The specialty pulp and paper chemicals market in Asia Pacific dominated the global industry in 2013 and is projected to retain its leadership during the forecast period. Due to the growing demand for specialty papers from the local packaging industry, the region is anticipated to record the fastest development, at a 4% CAGR during the forecast period. The capacity additions to the existing pulp and paper production units in the region are likely to propel the demand for concerning chemicals in the coming years.
Follow us on Twitter: https://twitter.com/research_market
About Transparency Market Research
Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.