Mechanical Wood Pulp Market

The global mechanical wood pulp market is expected to see a slight increase in performance over the next eight years, with consumption forecasted to reach 26M tons and a market value of $22.7B by 2030. From 2022 to 2030, a CAGR of +0.8% in volume and +2.1% in value is projected. Canada, Russia, and the United States were the top consumers in 2022, while New Zealand, the United States, and Sweden were major exporters. Import prices increased in 2022, and global exports surged to $477M. The average export price reached $564 per ton, with the United States recording the highest growth rate in export value.

Market Forecast

Driven by rising demand for mechanical wood pulp worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.8% for the period from 2022 to 2030, which is projected to bring the market volume to 26M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market value to $22.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Mechanical Wood Pulp

In 2022, the amount of mechanical wood pulp consumed worldwide amounted to 24M tons, therefore, remained relatively stable against the previous year's figure. Over the period under review, consumption, however, recorded a noticeable decrease. Over the period under review, global consumption reached the maximum volume at 31M tons in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

The global mechanical wood pulp market value was estimated at $19.2B in 2022, rising by 3.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, saw a pronounced slump. The pace of growth was the most pronounced in 2021 when the market value increased by 4.3% against the previous year. Over the period under review, the global market hit record highs at $23.9B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Canada (5.6M tons), Russia (2.9M tons) and the United States (2.1M tons), together comprising 44% of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Russia (with a CAGR of +5.7%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest mechanical wood pulp markets worldwide were Canada ($2.4B), China ($1.5B) and Russia ($1.3B), together accounting for 27% of the global market. The United States, Turkey, India, Indonesia, Brazil, Sweden, Finland, Egypt, Nigeria and Germany lagged somewhat behind, together comprising a further 25%.

In terms of the main consuming countries, Sweden, with a CAGR of +5.3%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of mechanical wood pulp per capita consumption in 2022 were Canada (146 kg per person), Finland (106 kg per person) and Sweden (50 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Russia (with a CAGR of +5.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Mechanical Wood Pulp

In 2022, approx. 25M tons of mechanical wood pulp were produced worldwide; therefore, remained relatively stable against the previous year's figure. Over the period under review, production, however, recorded a perceptible slump. The pace of growth appeared the most rapid in 2015 when the production volume increased by 2.2% against the previous year. Global production peaked at 31M tons in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

In value terms, mechanical wood pulp production dropped to $18.4B in 2022 estimated in export price. Overall, production, however, continues to indicate a mild reduction. The pace of growth appeared the most rapid in 2014 with an increase of 45% against the previous year. As a result, production attained the peak level of $33.1B. From 2015 to 2022, global production growth failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were Canada (5.7M tons), Russia (2.9M tons) and the United States (2.2M tons), together comprising 43% of global production.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +5.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Mechanical Wood Pulp

In 2022, supplies from abroad of mechanical wood pulp decreased by -14.4% to 419K tons, falling for the second year in a row after two years of growth. In general, imports showed a deep reduction. The pace of growth was the most pronounced in 2020 when imports increased by 7.5%. Over the period under review, global imports hit record highs at 853K tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, mechanical wood pulp imports expanded modestly to $242M in 2022. Over the period under review, imports saw a abrupt slump. The most prominent rate of growth was recorded in 2017 when imports increased by 6.7%. Global imports peaked at $463M in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports By Country

In 2022, Italy (76K tons), the United States (53K tons), Germany (39K tons), Denmark (35K tons), France (29K tons), Canada (22K tons), Turkey (20K tons), Pakistan (16K tons), Sweden (14K tons), Indonesia (11K tons), Argentina (10K tons) and Slovenia (9K tons) was the largest importer of mechanical wood pulp in the world, comprising 80% of total import. Poland (8.8K tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Turkey (with a CAGR of +58.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest mechanical wood pulp importing markets worldwide were Italy ($39M), the United States ($23M) and Germany ($21M), together comprising 35% of global imports. France, Denmark, Pakistan, Turkey, Canada, Argentina, Sweden, Indonesia, Slovenia and Poland lagged somewhat behind, together accounting for a further 44%.

In terms of the main importing countries, Turkey, with a CAGR of +59.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average mechanical wood pulp import price stood at $576 per ton in 2022, with an increase of 20% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Pakistan ($905 per ton), while Poland ($321 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+2.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Mechanical Wood Pulp

For the third year in a row, the global market recorded growth in overseas shipments of mechanical wood pulp, which increased by 0.7% to 846K tons in 2022. In general, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 26%. Over the period under review, the global exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, mechanical wood pulp exports surged to $477M in 2022. Overall, total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +84.6% against 2019 indices. The pace of growth appeared the most rapid in 2021 when exports increased by 39% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

Exports By Country

In 2022, New Zealand (259K tons), distantly followed by the United States (166K tons), Sweden (71K tons), Norway (69K tons), Germany (62K tons), Canada (53K tons) and Croatia (43K tons) represented the major exporters of mechanical wood pulp, together constituting 85% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by the United States (with a CAGR of +17.1%), while the other global leaders experienced more modest paces of growth.

In value terms, New Zealand ($144M), the United States ($99M) and Sweden ($42M) constituted the countries with the highest levels of exports in 2022, with a combined 60% share of global exports.

Among the main exporting countries, the United States, with a CAGR of +21.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average mechanical wood pulp export price stood at $564 per ton in 2022, with an increase of 21% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Germany ($622 per ton) and the United States ($598 per ton), while Canada ($457 per ton) and Croatia ($478 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform