CHPTAC Market Overview
- New product developments and increasing investments in research and development of CHPTAC are expected to drive the growth of this market.
- Among end users, paper segment is projected to lead the emollient esters market during the forecast period.
- Asia Pacific dominated the CHPTAC market.
By End-User Industry - Segment Analysis
Paper segment held a significant share in CHPTAC market in 2019 growing at a CAGR of XX% during the forecast period. The demand for paper and its products has been increased and the rapid growth of the paper industry is one of the main factors which are driving the CHPTAC market. CHPTAC has a molecular weight of 188.10 due to which it is widely used in paper industry. Chemical additives are an effective way to enhance the properties of paper. The CHPTAC has successfully been used for the cationization of cellulose, textile fibers, and other polysaccharides.
Concerns over the COVID-19 will, likely, affect consumer spending patterns, which will cascade across the entire economy. From a pulp and paper perspective, such a trend will most directly impact packaging demand. With reduced packaging demands comes reduced demand for pulp to make those products. China is the key buyer of pulp, paper, wood, and chips. If China stops importing as much product, countries reliant on exporting goods to China will have to look to domestic markets to mitigate oversupply issues. This especially concerns the US, which was by far the largest exporter of paper and pulp products to China from 2010-19
Geography- Segment Analysis
Asia Pacific dominated the CHPTAC market with a share of more than XX%, followed by North America and Europe. Presence of leading global manufacturers of CHPTAC in Asia Pacific is estimated to drive the CHPTAC market in the region during the forecast period. Huge number of wastewater treatment plants coupled among others is the key factors responsible for the growth of sludge treatment chemicals market in North America. Increased consumption of CHPTAC in water treatment industry as a flocculant is projected to create ample opportunities in the market. Escalating need for water treatment plants across the globe is forecast to create remunerative opportunities for the market.
For instance, according to American Society of Civil Engineers (ASCE), in 2018, 240 million Americans i.e. 76% of the population relied on the 14,748 treatment plants for wastewater sanitation. By 2032, it is expected that 56 million more people will connect to centralized treatment plants, rather than private septic systems. China is expected to witness highest growth rate for the CHPTAC market in Asia Pacific region owing to the increase in demand of CHPTAC from various end-use industries such as oil & gas and personal care.
Drivers – CHPTAC Market
Increasing usage of CHPTAC in various end use industries
Challenges – CHPTAC Market
Increasing manufacturing costs
- In October 2019, Merck, a leading science and technology company, is significantly expanding its global production capacities and optimizing its manufacturing processes for effect pigments. Investment program will expand production capacity in personal care and enhance manufacturing processes.