Surge in demand for wood pulp from the paper industry and rise in consumer demand for tissue paper products drive the growth of the global wood pulp Market.
OREGON, PORTLAND, UNITED STATES, November 19, 2021 /EINPresswire.com/ — According to the report published by Allied Market Research, the global wood pulp market generated $165.3 billion in 2020, and is projected to reach $242.1 billion by 2030, witnessing a CAGR of 3.9% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Eswara Prasad, a Manager, Chemical and Materials at Allied Market Research, stated, “Significant enrichment in the usage of wood pulp in paper sector in developing Asia-Pacific countries has significantly strengthened the global supply chain. The pulp industry plays an important role in socio-economic, as well as sustainable environmental development, this may positively impact the wood pulp market growth. Moreover, increase in growth of the food & beverages packaging industry has increased the demand for pulp & paper; thereby, fueling the market growth.”
• The outbreak of the COVID-19 pandemic led to supply chain disruptions in various countries, due to which, the import-export activities of the raw materials hampered the manufacturing processes.
• The demand for wood pulp from various end-use industries such as packaging and paper products decreased significantly during the lockdown, as daily operations in these industries were temporarily restricted.
• Nevertheless, the demand is expected to increase during the post-lockdown as restrictions are lifted off and day-to-day operations begin in the end-use industries.
The report offers detailed segmentation of the global wood pulp market based on type, end use industry, and region.
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Based on type, the hardwood segment held the highest market share in 2020, accounting for more than three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 4.6% from 2021 to 2030. The report also mentioned the softwood segment.
Based on end use industry, the packaging segment held the largest market share in 2020, accounting for more than half of the total market share, and is expected to continue its leadership status during the forecast period. However, the papers segment is projected to register the highest CAGR of 4.4% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, contributing to more than two-fifths of the total market share, and is estimated to continue its dominant share by 2030. Moreover, the same region is projected to manifest the fastest CAGR of 4.7% during the forecast period. Other regions mentioned in the report include North America, Europe, and LAMEA.
Leading players of the global wood pulp market analyzed in the research include International Paper, Metsä Group, Nippon Paper, Oji Holdings Corporation, Sappi, Sonoco Products, Stora Enso, Svenska Cellulosa Aktiebolaget, UPM-Kymmene Corporation, and WestRock.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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