CHPTAC Market Size F

iCrowdNewswire   Dec 14, 2020  10:22 AM ET

CHPTAC Market size is forecast to reach $288.1 million by 2025, after growing at a CAGR of 4.5% during 2020-2025. The acronym of CHPTAC is 3-chloro-2-hydroxypropyl trimethyl ammonium chloride. Its molecular formula is C6H15Cl2NO. CHPTAC is known as Liquid Cationic Etherification Agent chemically. CHPTAC belongs to quaternary ammonium salts. This liquid cationic etherifying agent is miscible with water and lower alcohols. It is commonly used to modify natural and synthetic polymers into quaternary ammonium compounds. This market gets a boost from the growing textile industry and an increase in the demand for water treatments.

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.

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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

CHPTAC cationizes cellulosic material in order to produce cationic starch. This cationic starch acts as a paper reinforcer and paper binder to increase dry strength of paper. As such, it finds wide-scale application in paper and textile industry. In textile industry, CHPTAC is used to improve the bonding of the dyes to the fibers. Thus, the growth of aforementioned industries is key factors which are expected to drive the growth of CHPTAC market during the forecast period. Also, one of the major applications of CHPTAC is its use as a cationic reagent in personal care industry. Thus, the growth of personal care industry is expected to result in an increased demand for CHPTAC over the forecast period. CHPTAC also has important application in water treatment industry, as it reacts with suspended solid present in waste water to form cationic polymers, thus, acting as a flocculant. Therefore, the growing end-use industries are expected to result in an increase in demand for CHPTAC during the forecast period.

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Challenges – CHPTAC Market

Increasing manufacturing costs

Increasing manufacturing costs and rising logistic costs are the key challenges affecting the growth of the global CHPTAC market. Moreover, development of this chemical might produce harmful wastes that are hazardous to the environment. Nonetheless, this situation is could change in future as the stability in this market improves, wherein numerous regulations are prophesized to come into existence. With better material handling techniques being developed, the health and environmental hazards associated with this market might be reduced.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the CHPTAC market. In 2019, the market of CHPTAC has been consolidated by the top five players accounting for xx% of the share. Major players in the CHPTAC market are The Dow Chemical Company, Merck KGaA, Sachem, Inc, Shandong Tiancheng Chemical Co., Ltd, Chemigate, Dongying Guofeng Fine Chemicals Co., Ltd, Dongying J&M Chemical Co., Ltd, Samsung Fine Chemicals Co. Ltd, Skw Quab Chemicals Inc, Weifang Greatland Paper and Chemicals Co., Ltd among others.

Expansion

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.

Key Takeaways

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.

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