Pulp Market Trend, Innovations, Applications and Growth
Transparency Market Research delivers key insights for the global pulp market in the newly published report, which includes a holistic view of the size, growth, share, trends and forecast between 2022 and 2027. The global sales of pulp are anticipated to reach US$ 269 Bn in 2022 and witness impressive growth and reach US$ 332 Bn in 2027.
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The global pulp market is projected to witness significant growth over the forecast period between 2022 and 2027, and is expected to grow at CAGR of 4.3%. In comparison with the historic growth of CAGR of 3.7% between 2014 and 2021. The rise in consumer inclination toward the usage of pulp-based products such as newsprints, corrugated boxes, and tissues is witnessing a sharp rise day by day, driven by the environmental friendliness of the pulp.
Regulatory authorities of the governments across the globe are also supporting various initiatives to educate more people on limiting the usage of harmful pollutants, the abovementioned missions are also supported by various NGOs. All these factors are promoting the usage of pulp above the usage of pollutant materials such as metal and plastics.
Development of Alternative and Sustainable Raw Materials
Key players are finding new ways of adopting sustainable and eco-friendly raw materials for paper packaging. The growing intolerance of single-use paper waste and illegal deforestation has led to the development of new raw materials for packaging and sanitary paper production. Tree-free pulp is estimated to witness fast-paced growth over the next five years, due to intensive research & development by key players in the pulp industry.
Tree-free raw materials include non-wood pulp sources such as leaf, grass, and seed pulp. The consumption of non-wood pulp is increasing rapidly as compared to wood pulp, owing to adoption from packaging companies to manufacture paper packaging products.
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Shifting Consumer Preference for Lightweight Paper Packaging over Conventional Metal Packaging
The globally renowned manufacturers across the packaging industry are always in search of eco-friendly, convenient, and re-usable packaging products. Paper packaging is considered as most preferred and popular lightweight and re-usable packaging option, which attracts several end-use industries due to its numerous benefits. Major industries across the globe are targeting to reduce the weight of packaging to reduce overall energy consumption, cost of production, and logistics overheads incurred in it.
Packaging made of paper remains the primary choice of manufacturers to pack grains, sugar, cheese, flour, and many other products. Primarily the innovation-driven food & beverage industry is relying heavily upon the lightweighted packaging products, which are made of using different combinations of pulp.
Packaging made of paper and pulp can easily replace the conventional packaging made of steel & other metals. In comparison with pulp, materials such as steel and other metals are expensive and harmful to the environment; on the other hand, pulp is biodegradable and lighter in weight. Moreover, the cost-effectiveness of the pulp also motivates different packaging manufacturers and end-user to switch over to paper packaging. In addition, consumer surveys reveal that paper packaging provides a much eye-catching and premium look to the final product.
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Competition Landscape
Key market players across the global pulp market are investing heavily to acquire advanced production technology and expanding their production capacities to cater for the ever-growing demand for pulp. Moreover, giants in the market are using acquiring domestic players in foreign countries to expand their global footprint and achieve increased market share.
For instance, in February 2022, WestRock Company announced the construction of a new facility for the production of corrugated boxes in the Pacific Northwest to meet the growing regional demand in the region.
In January 2022, Stora Enso Oyj announced to invest US$ 45 Mn in advanced technology and restructuring of the existing pulp production site in Skutskar, Sweden. The company targets better climate footprint and cost efficiencies to align with group goals.
In May 2021, Mondi Group Plc acquired Olmuksan International Paper Ambalaj Sanayi ve Ticaret A.Ş from International Paper Company for US$ 74 Mn.
The tier structure analysis is formulated based on segmental revenue and market share of the respective company. Tier 1 includes WestRock Company, International Paper Company, Stora Enso Pulp AB, and Georgia-Pacific Corporation. Moreover, Kimberly Clark Corporation, Oji Holdings Corporation, Nippon Paper Group, Asia Pulp and Paper Group, and UPM are in tier 2. Tier 3 comprises Nordic Paper Holding AB, Mercer International Group, Metsä Board Corporation, BillerudKorsnäs AB, Nine Dragons Paper Limited, Sappi Group, etc.
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