Pulp Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

Description

Pulp Market size was valued at USD 145.6 billion in 2021, growing at a CAGR of 3.6% during the forecast period 2022 to 2028. The global market report provides a thorough overview of the Pulp market, which can be segmented by Source, Grade, and End-use Industry.  Based on the source, the market is segmented into Softwood, Hardwood, Straw, Bast, Leaves, Seeds, Grass, Recycled Pulp / De-Inked Pulp, and Others. Softwood and hardwood are the largest sources of pulp. The straw and bast segment is to witness the second-highest growth in the upcoming period. Based on grade, the Pulp market is segmented into Mechanical Pulping, Chemical Pulping, and Others. Chemical pulping, which makes up more than 3/4 of the pulp industry, is anticipated to increase by 1.5 times its current market value by the end of the projection period. The rising use of premium white paper and other premium paper goods has led to an increase in the demand for chemical pulp on the market. The need for chemical pulping is also being pushed by the increase of packaging paper used in the food and beverage, pharmaceutical, and personal care industries as well as the surge in paper consumption in the institutional and corporate sectors. Based on the end-use industry, the segment has been segregated into Food & Beverages, Personal Care & Cosmetics, Pharmaceuticals, Automotive, News Printing, Book / Magazine Printing, Advanced Printing, Tissue, and Others. By value, the packaging industry currently accounts for more than half of the market share and is projected to generate the largest incremental opportunity of US$22.2 billion by the year 2030. The food and beverage, personal care, and pharmaceutical industries’ rising demand for paper-based packaging has given the pulp market a boost in recent years. During the projected period, the demand for pulp is also likely to increase due to consumers’ growing preference for sustainable and environmentally friendly packaging over plastic packaging.

Key Development:

In May 2022. Georgia Pacific revealed a $50 million investment in its Muskogee Mill. With this investment, its Muskogee Mill operations will be safer, more dependable, and more efficient in addition to adding a new manufacturing line and equipment. In the near future, expanding paper product production capacity is anticipated to have an impact on the growth of the pulp market.

In April 2022, at its Enocell pulp plant in Finland, Stora Enso invested US$ 11.1 million to expand its use of renewable energy. The corporation will be able to achieve its goal of reducing greenhouse gas emissions thanks to this investment, which will also help the environment.