Market Trends of CHPTAC Industry
This section covers the major market trends shaping the CHPTAC Market according to our research experts:
Paper Segment to Dominate the Market
- The paper segment stands to be the dominating segment owing to its widespread consumption in the paper in various industries for packaging purposes and others.
- Myriad applications of CHPTAC including internal binders, reinforcers, and packing is expected to provide a boost to the demand of CHTAC in the market.
- In paper industry, CHPTAC is utilized to produce cationic starch which acts as a paper reinforcer and paper binder to increase the dry strength of paper. Thus, the growth of the paper industry is expected to drive market growth for CHPTAC.
- Paper is an important material, used daily for many purposes worldwide. More than half of the production of paper was attributable to packaging paper as increasing consumer awareness about environment-friendly nature of paper packaging than polymer packaging.
- All the aforementioned factors are expected to drive the CHPTAC market during the forecast period.
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North America Region to Dominate the Market
- North America stands to be the dominating region during the forecast period as the United States is one of the prominent regions in the paper industry.
- The efficacy of CHPTAC to act as a liquid cationic etherification agent has significantly driven its demand in the textile industry.
- The United States is a major market in the North American textile industry. North America as a whole accounted for more than 41% of the exports in the global textile industry in 2019.
- Growing consumption of CHPTAC as a flocculant in the water treatment industry and escalating the need for water treatment plants are likely to create remunerative opportunities for the market.
- CHPTAC is also used as a cationic reagent in the personal care industry. Thus, the growth of the personal care industry is expected to result in an increased demand for CHPTAC over the forecast period.
- Hence, all such market trends are expected to drive the demand for CHPTAC market in the region during the forecast period.
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