Pulp Market- APEJ to Account for Lion’s Share of Global Industry
Downsizing/lightweighting of packaging solutions, increased waste recovery & recycling, robust utilization of recycled content & renewably sourced materials, and improving packaging & logistical efficiency have prevailed as key trends influencing demand for sustainable packaging, All these factors have led to the development of various sustainable packaging solutions, and pulp packaging is one of the leading solutions. Pulp is widely used for manufacturing primary and secondary packaging products, mainly because of its strong protective cushioning properties and cost-effectiveness. Facilitated reprocessing of pulp coupled with its biodegradable offerings further pave immense opportunities for use of pulp in the packaging industry.
There has been a robust consumption of chemical wood pulp for production of high-quality paper. Processes such as the semi-chemical pulping aid preparation of neutral solutions, which are utilized for cooking wood chips. In addition, semi-chemical wood pulp is relatively affordable than pulp produced from other chemical methods. Semi-chemical wood pulp seeks widespread utilization for manufacturing paperboards, magazines, cartons, fine paper, and tissue paper. Tissue paper has been witnessing tremendous adoption, particularly in the residential sector where paper towels and facial tissue papers are in high demand. In addition, fluffy pup has also witnessed a substantial rise in demand for use in the production of feminine hygiene products, pet pads, adult incontinent products, and baby diapers. All these factors elucidate importance of pulp in various application and are likely to drive demand for pulp in the near future.
According to a recently compiled report of Transparency Market Research (TMR), an average expansion has been projected for the global pulp market over the forecast period, 2017 to 2026. More than US$ 60,000 Mn worth of pulp is estimated to be sold across the globe by 2026-end.
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APEJ to Account for Lion’s Share of Global Pulp Market
Asia-Pacific excluding Japan (APEJ) will continue to account for the lion’s share of the global pulp market. Growing demand for paper-based products has prompted the market vendors in APEJ to focus on enhancing their pulp production capacity. In addition, high chemical pulp production and export along with soaring demand for paper will augment demand for pulp in APEJ. Europe is also expected to remain a lucrative region for the pulp market, mainly because of constant innovations in the region’s paper industry and increasing pulp production capacities of the regional vendors.
Chemical pulp seek enormous applications in various end-use industries on the back of their resilience and malleability. In addition, chemical pulp enable efficient breaking down of lignin into wood chips. Chemical pulp is expected to remain leading revenue contributor to the global pulp market, based on grade type.
Pulp to Reflect Fastest Sales Growth in Printing & Writing Application
Sales of pulp are poised to reflect the fastest growth for application in printing & writing, owing to substantial demand for pigments and dies in developing nations. In addition, rapid adoption of various types of papers in nations such as Indonesia, India, and China on the back of growing literacy rate and population expansion will further create enormous demand for pulp for printing & writing applications in these countries.
Based on product type, fluff will continue to ride on the highest CAGR in the market through 2026, trailed by bleached eucalyptus kraft pulp. However the latter will remain the most lucrative product in the market
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Presence of several vendors in the global pulp market has made the market’s nature to be extremely competitive. Competition in the market is further likely to intensify, as vendors are increasingly competing in terms of quality, branding, price, and customer service. These vendors are concentrating on enhancing their production efficiencies, and making long-term contracts with their end-users, as little product differentiation exists in the market. In addition, competition regarding cost of products commonly prevails between vendors increasing their production efficiencies and offering low-cost products.
TMR’s report has tracked key players influencing expansion of the global pulp market, which include Rayonier Advanced Materials, Shandong Sun Paper Industry, Mitsubishi Paper Mills, WestRock, Packaging Corporation of America, Nippon Paper Group, Oji Paper, UPM-Kymmene, Stora Enso, and International Paper.