The global paper processing resins market is estimated to garner considerable revenue by the end of 2031 by growing at a CAGR of ~5% over the forecast period, i.e., 2022 – 2031. Further, the market generated noteworthy revenue in the year 2021. This progress is owing to the increasing demand for superior quality paper across innumerable industries such as education, entertainment, packaging, research, and others. More than 350 million metric tons of paper and cardboard are produced across the world every year, which is projected to drive the paper processing resins market.
Paper processing resins are additives used during the production of paper to alter its physical characteristics, such as texture, strength, thickness, and durability as well as to improve its chemical, heat, and water resistance. The booming paper & pulp industry has been increasingly embracing paper processing resins in the manufacture of high-quality paper to meet the global demand. For instance, the production of paper and carboard worldwide is known to cross 400 Million metric tons every year.
The global paper processing resins market is segmented and analyzed for demand and supply by end-use into writing paper, printing paper, kraft paper, decorative paper, duplex boards, paper napkins/towels, paper wipes, and special paper. Of them, the kraft paper segment is projected to hold the largest share of market by the end of forecast period owing to the boom in online shopping and the use of kraft paper in packaging. It was found that Kraft Paper witnessed a total trade of over USD 13 Billion in the year 2020 and was known to be the 248th most traded product in the same year.
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, which accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. The easy availability of low-cost raw materials & labor, as well as government subsidies and relaxed environmental norms, have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for investment in businesses in Asia Pacific countries in the upcoming years.
Regionally, the global paper processing resins market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2031. China is predicted to supersede the United States as the world’s leading producer of paper and paper products. In fact, in the year 2020, the paper production in China touched nearly 115 Million metric tons, which was about double the output of the United States. The growing economy and literacy and the rise in disposable income among an expanding middle-class population are likely to drive the demand for different kinds of paper like paper wipes, decorative paper, and other specialty paper in the developing countries.
The global paper processing resins market is further classified on the basis of region as follows:
Our in-depth analysis of the global paper processing resins market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Growing education industry, rising environmental awareness, and the demand for aesthetic paper in construction industry are some of the factors driving the growth of the paper processing resins market.
The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2022 – 2031.
Rise in digitization across various industries and lack of infrastructure required for large-scale production in some developing countries are some of the challenges affecting the market growth.
The market in Asia Pacific is projected to hold the largest market share by the end of 2031 and provide more business opportunities in the future.
The major players in the market are Chang Chun Group, Vertex Chem Private Limited, DIC Corporation, Wacker Chemie AG, Nissin Chemical Industry Co., Ltd. and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, material, end-use and by region.
The kraft paper sub-segment is anticipated to garner the largest market size by the end of 2031 and display significant growth opportunities.
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