Sellbyville, DE -- (SBWIRE) -- 02/25/2019 -- Asia Pacific is leading the market by holding a major chunk of specialty pulp and paper market share with China leading the market in this region. This region is likely to be the fastest growing among all others owing to increasing production capacities in this region coupled with growing demand for packaging industry. Asia Pacific was valued at over USD 7 billion in 2015 and is likely to grow at a CAGR of over 5%. Asia Pacific is followed by Europe which is growing with a 4.2% CAGR. The specialty pulp and paper market in Europe was close to one third of the total market share. Market share of Europe and North America are likely to decrease on account of digitalization and increase in Latin America Asia Pacific.

Specialty Pulp And Paper Chemicals Market is set to exceed USD 31 billion by 2024 as per a new research report. Due to vast amount of energy, water and chemicals used in the production process of these coated papers give rise to environmental concerns for the pulp & paper industry. EPA is majorly concerned about the emission of greenhouse gases such as methane and others from waste water. The Food & Drug Administration (FDA) have made several regulations mandatory due to the use of certain chemicals that have harmful effects on the environment might act as the specialty pulp and paper chemicals market restraints in near future.

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One of the major growth driver of specialty pulp and paper chemicals market is the one-sided specialty (coated) paper demand which are produced from specialty chemicals. In 2015, coated paper market demand was registered over four thousand kilo tons and is likely to cross five thousand kilo tons in the next three years.

These processed and functional chemicals find their applications in thermal transfers, posters, gift wrappings, laminates, envelopes, release liners, labeling and others. Due to increasing usage in the stationary industry, labels account for over one third of the global consumption of these specialty (coated) papers. They also witness huge demand in the packaging industry on a large scale for flexible packing.

Based on the product, specialty pulp and paper chemicals market is globally segmented into four broad categories such as basic, functional, process and bleaching chemicals. In 2015, the functional chemicals account for close to half of the specialty pulp and paper chemicals market share and registered a CAGR of around 7%. These functional chemicals include coating chemicals, pigments & dyes and are likely to display fastest growth in terms of revenue.

To extend the working life and improve efficiency of pulp manufacturing machines, processed chemicals are generally used in removing scales owing to its chelating properties. Increasing environment awareness and conservation of natural resources is fueling the demand for recycled paper which in turn is propelling the bleaching chemicals demand extensively.

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Leading market players in specialty pulp and paper chemicals market around the globe include BASF SE, AkzoNobel N.V., Kemira Oyj, Dow Chemical Company, Ashland and Nalco Holdings to name a few. These six multinationals account for in excess of 80% of the total supply in the specially pulp and paper chemicals market.

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