CHICAGO, UNITED STATES, May 16, 2023 /EINPresswire.com/ — In 2022, the global wet strength resin market generated US$ 1,432.6 million in revenue and is likely to grow at a CAGR of 7.2% from 2023 to 2031 to reach US$ 2,652.8 million in market value. Wet strength resins are in higher demand across a range of end-use sectors, including paper and packaging, tissue and hygiene, and industrial, which is driving the growth of the wet strength resins market.
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The paper and packaging industries are the popular adopters of wet strength resins. Paper goods like tissues, towels, and napkins have their wet strength improved by the use of wet strength resins. Thus, the rising demand for tissue and hygiene products increases the market value of wet strength resins market. The business of tissues and personal hygiene is expanding as a result of urbanization, population growth, and rising disposable income, particularly in developing nations. The global consumption of tissue hit 38.7 million tonnes in 2018 and is expected to surpass 40 million tonnes this year, according to the tissue world magazine. Additionally, China has recently been the world’s largest consumer of tissue, with 6.3 kg of consumption per person on average. Thus, the rising consumption of tissue paper will offer lucrative growth opportunities for the global market.
According to Astute Analytica’s estimation, Asia is the vast manufacturer of tissue paper, with China being the biggest producer. China’s ability to produce tissue paper was around 2.6 million tons in 2021. Countries such as Japan, India, South Korea, and Indonesia are producing tissue paper in large quantities.
Polyamide Epichlorohydrin Resin is a Popular Choice Among Many Companies Operating in the Wet Strength Resin Market
In 2022, the Polyamide Epichlorohydrin (PAE) resin held a significant revenue share and is likely to grow at the highest CAGR during the forecast years. Polyamide epichlorohydrin wet strength resin, utilized in a range of applications, including the production of paper and cardboard, is currently in high demand. In addition, due to its many advantages, paper, and cardboard manufacturers have embraced this resin quickly.
Tissue Consumption is likely to surpass 5.4 metric million tons by 2031
In 2022, the tissue segment accounted for the highest market share, and it is anticipated to increase at the highest CAGR from 2023 to 2031. Tissue paper is now widely utilized for a number of functions, including toilet paper, automobile tissue, table tissue, facial tissue, paper towels, and other goods. It is common in kitchens, cafes, and restaurants. In 2022, tissue paper use was 41 million tons worldwide, and it is anticipated to reach 5.4 million tons by 2031. The usage of tissue paper worldwide increased slightly from the prior year to 26.2 million metric tons.
Asia Pacific Region Accounts for More Than 36% of the Global WSR Production.
By 2031, the Asia Pacific region will account for more than 40% of sales in the wet strength resins sector, according to Astute Analytica’s estimate. This is due to the regionregion’s swift economic expansion, the growing middle class, and their rising standard of living. The packaging industry’s rising demand is what essentially drives the regional market. According to our estimate, China will likely account for around half of this growth, followed by India and Southeast Asia.
Major market players include Solenis, Ecolab, Kemira, Kurita, and Chang Chun Group, with a combined revenue of almost 43%.
The wet-strength resin market is extremely competitive, and businesses employ a variety of tactics to acquire an advantage and grow their market share. Product innovation is one of the main business tactics. Wet strength resins with better performance and efficiency are continually being developed by businesses. By doing this, they can set their products apart from those of their rivals and obtain a competitive advantage.
Solenis, a wet strength resins manufacturer, offer many goods and service and is a multinational specialty chemical firm. Wet-strength resins produced by the firm are utilized in a range of paper goods, including tissues, towels, and napkins. In addition to having a global footprint that enables it to service clients in different geographic areas,
According to the analysis of Astute Analytica, Solenis has a solid reputation for creating high-quality wet-strength resins. Additionally, the company concentrates on R&D, growth, and marketing initiatives to maintain its top spot in the market in order to avoid competition. For instance, in March 2023, Solenis declared that it had signed an agreement to buy Diversey, a multinational business that manufactures and sells a wide range of household and industrial cleaning products. The company primarily focuses on water treatment, paper production, and pool cleaning markets. Since being acquired by Platinum in 2021 for $5.25 billion, it has steadily added smaller businesses in the United States and globally to increase its products and production capacity.
• In Feb 2023, Solenis acquired full shares of the Grand Invest Group. The Grand Invest Group’s acquisition was in line with Solenis’ objective to provide clients in the area with better chemical and water treatment options.
• In January 2022, Solenis purchased DMA3, a raw material utilized in the creation of synthetic polymers and employed in the manufacture of pulp and paper, food processing, and other sectors. The polymer polyacrylamide, which is utilized for DMA3, is prioritized for strategic growth by Solenis.
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Top Companies in the Global Wet Strength Resin Market
Chang Chun Group
Kothari Group of Industries
Seiko PMC Corporation
Other Prominent Players
By Resin Type
Rest of Western Europe
Rest of Eastern Europe
Australia & New Zealand
Rest of Asia Pacific
Middle East & Africa (MEA)
Rest of MEA
Rest of South America
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