Wood Pulp Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Wood Pulp Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The wood pulp market is expected to witness a CAGR of 2.5% during the forecast period. In 2020, due to covid-19, supply chain disruptions caused by the lockdown measures, imports of raw materials for manufacturing operations as well as exports of finished packaging and paper products have been substantially disrupted, negatively impacting the wood pulp industry.

The drivers identified in the market are increasing demand for wood pulp from the paper industry, rising consumer demand for tissue paper products, and growth in the trade of wood pulp products.The restraints identified in the market are stringent environmental regulations, with respect to deforestation, and increasing energy and transportation costs.

United States is the major producer of wood pulp in the world. Canada is the top exporter of wood pulp globally. It shares 62% of total global exports.

The rising global demand, along with consumption, for tissue paper, which is essentially used in kitchen, toilets, and household, is expected to drive the market’s growth over the forecast period. United States is the largest consumer of tissue paper in the world, on average, 25 kg of tissue is consumed per person annually. About 37% of this consumption occurs via kitchen towels. Canada has 24% of the world’s boreal forests, and is one of the world’s largest pulp and paper market. The country produces considerable amount of raw material, satisfying the demand at both domestic and international levels.

Canada is the largest producer of wood pulp, globally, due to the presence of coniferous forest, which provides raw material for the paper industry. Few Canadian paper mills faced challenges, due to the rising production costs and increasing competition from the pulp and paper producers of the southern United States and Scandinavia, which resulted in conversions and closure of pulp and paper mills. In 2020, Total woold pulp exports value in Canada accounted at USD 923.9 millions. Canada's wood pulp exports share 62% of the total global exports.

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