Paper Coatings Additives Market is expected to grow at CAGR of 0.15% to reach $2580.37 million by 2023
By Type (Dispersant, Defoamer, Rheology Modifier, Others); By Formulation (Waterborne, Solventborne, Powder and High Solids); By Paper Type (Packaging, Printing & Writing, Specialty Coated, Others); By Region - (2018-2023)” published by IndustryARC, the market is driven by higher adoption rate in the food industry where optimized packaging segment plays an important role to achieve highest performance target.
Paper Coating Additives Market (2018 - 2023)”
Asia-Pacific dominates with major share and growth in the Paper Coatings Additives Market
Asia-Pacific has the foremost market in paper coating additives among all the regions. The APAC market is estimated to increase its market with a growing CAGR of 1.02% to reach revenue of $1238.20 million by 2023. The market is exhibiting a strong growth due to high rate of production in the corrosion inhibitor coated paper. China is the leading region in the APAC for chemical manufacturers of paper and additives for investment and developing their business. Europe is the second leading region in the paper coating additives market, which gained revenue of $714.3 million in 2017. The major countries in Europe for coated paper and considerably established market are U.K., France, Germany, and other countries. The European market is expected to grow at a CAGR of 0.3% to reach $936.65 million by 2023. The European market is considerably growing because of packaging and film paper and writing paper market. The American market has grown slowly, in chemical paper coating among all the regions, and is estimated to decline due to reduction in coated paper production.
Selected Type done in the full Report:
Every additive type to be used depends on the type of coating formulation that is used for coating the paper. Dispersants are the mostly used additives which have major market in terms of volume and revenue. This is because of the dosage of dispersant in paper coating is more when compared to other additives. The Dispersants market generated revenue of $1001.30 million in 2017 and is projected to grow at a CAGR of 0.27% to reach revenue of $1085 million by 2023. Rheology Modifiers are the second leading segment expected to grow at a CAGR of 0.4% to reach revenue of $518.16 million by 2023 from $475.6 million in 2017. Defoamers market is the fastest leading segment, which is estimated to be $79.8 million of the total paper coating additives in 2017 and is now projected to grow at a CAGR of 1.10% to reach $89.28 million by 2023. Biocides, insolubilizers, and lubricants are the following segments with CAGR of 0.80%, 0.20%, and 0.30% respectively.
Excerpts on Market Growth Factors
- E-commerce market has lifted the food packaging industry, which is rapidly evolving in emerging countries such as India, China, and Africa. Functions like holding back easy absorption of wet, glossy look and UV coatings among other features are the reason behind the growth of the market.
- Multifunctional additives, strict environmental protocols, emerging shift of solvent in technologies, and growing awareness among users are benefiting paper coating additives end user markets.
- New product innovation with multiple functionalities with low cost of manufacturing will be a new entrant to bring change and increase the growth of the market.
Key players of the Paper Coatings Additives Market
BASF and the Dow Chemical Company are the two key market players in the paper coating additives industry. BASF occupies the chief place in this market, followed by Dow. Dow Chemical deals extensively with rheology modifiers, dispersants and biocide additives. The products that have caused BASF deals into coating paper binder, rheology modifiers, dispersants, wetting agents, and thickeners. BASF products that lead in the market are as Sterocoll* SL, Acronal, Etingal, Basocoll, Lumiten, and Dispex. Dow Chemicals have major products such as Eriden™, Acumer, Tamol& Orotan, Rhoplex and Primal. There are companies that produce raw materials such as Xiamen Hisunny Chemical Co., LTD, Finetech Industry Limited, Dallas Group of America, Inc., and others.
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