In 2020, the global wood pulp market was valued at more than $160 billion. It is projected that the wood pulp market to grow at a Compound annual growth rate of more than 3% during the forecast period from 2021 to 2027.
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Wood pulp is made from wood that has been crushed to a fine pulp, used in the production of newspapers and other low-cost papers, and hardboard. Chemical pulp production and mechanical pulping are the two ways to produce wood pulp. The pulping process involves cooking wood chips (from trees) using a chemical process known as a digester, which is similar to a pressure cooker. The finely pulped wood is digested by a chemical called caustic soda. A bleaching process is also sometimes included in the process. However, mechanical pulping uses a machine to grind wood chips to create pulp rather than cooking them. There are a variety of products made from wood pulp. Paper, boards, and special papers are among the four main applications of wood pulp.
Market Dynamics: The Wood Pulp Market
Growth in global markets is driven by the increased use of pulp in paper manufacturing. Furniture and soft furnishings to be used in the residential sector are manufactured from wood pulp, which fuels the market growth. Global demand for tissue paper, which is mainly used in households, kitchens, and bathrooms, is expected to power market growth over the forecast period. Wood pulp market growth, however, may be negatively affected by the implementation of stringent environmental regulations regarding deforestation in the coming years.
Impact of Covid-19: The Wood Pulp Market
Almost every country in the world is affected by Coronavirus. The pandemic has also affected economies in many countries, including Spain, France, Germany, Italy, the UK, and Norway.
There has been a drop in the economy in many countries due to the shutdown of several industries, especially transportation and supply chains. Due to the lockdown, there has been no development of the product, cutting down on demand.
COVID-19 is projected to impact the industry’s rapid growth due to issues such as a demand-supply gap, disruptions in raw material procurement, and high price volatility.
Wood & furniture industries have been adversely affected by the shutdown of the packaging industry, resulting in hampered growth for global wood pulp markets.
Due to the restrictions imposed on the labor movement in many countries, many industries are closed, resulting in a drastic decline in wood pulp production.
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Regional Outlook: the Wood Pulp Market
The North American wood pulp industry benefits greatly from the presence of coniferous forests in Canada, which provides raw materials for the paper industry. Canada is one of the most significant regions for the industry in North America. The Canadian boreal forest covers about a quarter of the world’s total and is the second-largest market for pulp and paper worldwide. Both the domestic and international markets are served by the country’s raw material production. In addition to rising costs and increased competition from pulp and paper producers in the south and Scandinavia, few Canadian paper mills could sustain growing output. It resulted in the conversion and closure of several mills.
Aim of the Report: the Wood Pulp Market
In the global wood pulp market, segments are based on Type, End-User Industry, and Region.
Segmentation based on End-User Industry
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Key Players: the Wood Pulp Market
Globally, the wood pulp market includes the following major players:
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