Wood Pulp Trade Analysis Market Size

Wood Pulp Trade Analysis Market Analysis

The wood pulp market is expected to witness a CAGR of 2.6% during the forecast period.

• The pulp and paper industry involves many fields, such as forestry, agriculture, chemicals, biology, distribution, and transportation, thus occupying an important position in the global economy. Pulp is an intermediate chemically- or mechanically-processed fibrous material derived from wood or other plant fibers, whereas waste paper is a resource collected from previously discarded material. Both the wood pulp and waste paper contain varying amounts of cellulose fibers. According to the Food and Agriculture Organization (FAO), annual paper and paperboard production has increased by 6% since 2010.
• The pulp and paper industry comprises companies that use basic raw materials like wood to produce pulp, paper, paperboard, and various cellulose-based products. Annual global paper and board production and consumption capacities reached 419.7 million metric tons and 423.3 million metric tons, respectively, in 2019. North America and South America together account for more than half of the global production, followed by Europe and Asia-Pacific. Canada, the United States, and China are the top three wood pulp producers due to their improved technical knowledge and large forestry sectors.
• The major driving factors are the growing demands for the paper production industry due to the massive use of tissue paper in residences, kitchens, toilet facilities, restaurants, and healthcare facilities. Environmental concerns regarding the use of plastics and increased demand for packaging and industrial papers are some of the driving factors boosting the market's growth in the coming years.