LONDON--(BUSINESS WIRE)--The paper chemicals market is expected to grow by USD 5.39 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio. Request a free sample report
The growth of the packaging industry in APAC and South America is resulting from the expansion of the e-commerce sector, which in turn is fostering the demand for paper chemicals. In addition, the demand for high-performance paper chemicals is increasing with the growing need for different kinds of specialty paper from the packaging industry. As a result, chemical manufacturers are increasingly focusing on introducing new and advanced products. Furthermore, the global paper chemicals market is witnessing expansion and new growth opportunities with the advent of next-generation enzymes. Thus, the increasing demand for high-performance chemicals from paper manufacturers is expected to drive market growth during the forecast period.
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As per Technavio, the rise in demand for lightweight materials will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Paper Chemicals Market: Rise in Demand for Lightweight Materials
The growing need to package F&B and consumer goods is propelling the demand for packaging materials. However, vendors are also focusing on ensuring quality compliance and minimizing the transportation costs of packaged commodities. This has encouraged them to introduce high-performance and lightweight grades of paper. The use of lightweight packaging materials helps in lowering the carbon footprint, improves the transportation of packages, and minimizes manufacturing costs. With the rise in demand for lightweight materials, the market for paper chemicals is expected to showcase a positive outlook during the forecast period.
“The adoption of digital manufacturing for paper production and technological advances are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Paper Chemicals Market: Segmentation Analysis
This market research report segments the paper chemicals market by type (bleaching chemicals, pulping agents, sizing agents, binders, and others), and geography (APAC, Europe, North America, South America, and MEA).
The APAC region led the paper chemicals market in 2019, followed by Europe, North America, South America, and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the growing demand for paper from different industries.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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