Functional Chemicals, one of the segments analyzed in the report, is projected to record a 6.8% CAGR and reach US$20.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Bleaching Chemicals segment is readjusted to a revised 5.9% CAGR for the next 7-year period.
The Specialty Pulp and Paper Chemicals market in the U.S. is estimated at US$6.9 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$8.1 Billion by the year 2027 trailing a CAGR of 9.8% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 5.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$5.2 Billion by the year 2027.
In the global Other Products segment, USA, Canada, Japan, China and Europe will drive the 5.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.6 Billion in the year 2020 will reach a projected size of US$3.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 5.5% CAGR through the analysis period.