Paper Pigments Market Worth $17.72 Billion by 2023
PUNE, India, September 12, 2018 /PRNewswire/ --
According to the new market research report on the "Paper Pigments Market by Type (Calcium Carbonate and Kaolin), Application (Coated Paper and Uncoated Paper), and Region (APAC, North America, Europe, and RoW (Middle East & Africa and South America)) - Global Forecast to 2023", published by MarketsandMarkets™, the market is projected to grow from USD 13.52 billion in 2018 to USD 17.72 billion by 2023, at a CAGR of 5.6% from 2018 to 2023. Increasing demand for paper from the packaging industry, high demand in emerging countries, and sustained demand for uncoated paper are projected to drive the Paper Pigments Market.
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Based on type, the calcium carbonate segment is estimated to lead the Paper Pigments Market in 2018
Calcium carbonate is the most widely used paper pigment and has been used since the last 30 years. The increasing demand for bright and bulk paper is leading to the increasing preference for calcium carbonate over kaolin. Calcium carbonate is less expensive and enables brighter paper than that possible with the use of kaolin. The leading countries accounting for a large market share in the Paper Pigments Market are China and the US. The use of calcium carbonate is also increasing for coated and uncoated papers owing to the enhanced brightness imparted to paper.
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Based on application, coated paper is estimated to lead the Paper Pigments Market in 2018
Coated paper is the largest application of paper pigments. The need for superior quality paper is increasing, and hence this segment offers significant growth potential for paper pigments in coated papers. In Europe and North America, the growth rate of the coated paper segment is higher than that for the uncoated paper segment. Moreover, the loading percentage of paper pigments going into coating is increasing; while, the percentage of fillers is relatively lower.
The Asia Pacific Paper Pigments Market is projected to grow at the highest CAGR during the forecast period
Asia Pacific (APAC) is expected to grow at the highest CAGR in the Paper Pigments Market during the forecast period. Due to the low proliferation of technology and lower impact of environmental regulations, there is a sustained increase in the demand for paper in the APAC countries despite reduction in the use of writing paper due to the increasing adoption of electronic devices. The region also benefits due to the availability of raw materials, which further facilitates high production of pulp & paper. Countries including China, Japan, South Korea, Indonesia, and India lead in terms of paper production, and hence are major consumers of paper pigments.
Key Players in the Paper Pigments Market:
The key players in the Paper Pigments Market include Omya (Switzerland), Imerys (France), Minerals Technologies (US), BASF (Germany), Ashapura Group (India), Huber (US), Kemira Oyj (Finland), Chemours (US), Thiele Kaolin Company (US), and KaMin/CADAM (US).
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