Wood Pulp Market to Garner $242.1 Billion, Globally, By 2030 at 3.9% CAGR, Says Allied Market Research
- Rise in need from the paper industry and increase in consumer demand for tissue papers have boosted the growth of the global wood pulp market.
PORTLAND, Ore., Jan. 26, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Wood Pulp Market by Type (Hardwood and Softwood) and End-use Industry (Packaging [food & beverage, pharmaceuticals, personal care & cosmetics, automotive], Paper [newspaper, books & magazines, tissues], and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the global wood pulp industry was pegged at $165.3 billion in 2020, and is estimated to reach $242.1 billion by 3.9% from 2020 to 2030.
Drivers, restraints, and opportunities
Rise in need from the paper industry and increase in consumer demand for tissue papers have boosted the growth of the global wood pulp market. However, strict regulations by the government hamper the market growth. On the contrary, innovative and sustainable technology solutions unlock lucrative opportunities in the future.
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Covid-19 scenario:
- Disruption of the Supply chain due to prolonged lockdown measures taken across various countries hampered the market during the pandemic. In addition, the import-export activities of the raw materials were disrupted which negatively affected the manufacturing processes.
- The need for wood pulp from various end-use industries including packaging and paper products reduced drastically during the pandemic.
- On the contrary, the need for wood pulp is projected to rise post-pandemic as restrictions are lifted and day-to-day operations will get back to normal in the end-use industries.
The hardwood segment to showcase the highest CAGR through 2030
On the basis of type, the hardwood segment is projected to register the highest CAGR of 4.6% during the pandemic. In addition, the segment dominated the market in terms of revenue, accounting for more than three-fifths of the global wood pulp market, due to rise in popularity of wood pulp for use in packaging products. The report includes an analysis of the softwood segment too.
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The papers segment to register the highest CAGR through 2030
On the basis of the end-use industry, the papers segment is estimated to showcase the highest CAGR of 4.4% during the forecast period. However, the packaging segment held the largest share in 2020, accounting for more than half of the global wood pulp market, owing to rise in demand from pharmaceutical and food & beverage industries in India, China, and Japan.
Asia-Pacific, followed by North America, held the largest share
On the basis of geography, the market across Asia-Pacific accounted for the largest share in 2020, holding more than two-fifths of the global wood pulp market. In addition, the region is anticipated to register the highest CAGR of 4.7% from 2021 to 2030, due to rise in demand for packaging products from pharmaceutical and food & beverage industries.
Major Market Players
- International Paper
- Nippon Paper
- Metsä Group
- Sappi
- Oji Holdings Corporation
- Stora Enso
- Sonoco Products
- UPM-Kymmene Corporation
- Svenska Cellulosa Aktiebolaget
- WestRock
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