Wood Pulp Market

The global wood pulp market is expected to see continued growth in consumption over the next eight years, with a forecasted increase in market volume and value. Consumption patterns, production volumes, import/export data, and price fluctuations are analyzed in detail. Countries with the highest consumption, production, imports, and exports are identified, along with trends in different types of wood pulp products. Overall, the market is projected to experience gradual growth and stability in the near future.

Market Forecast

Driven by increasing demand for wood pulp worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.4% for the period from 2022 to 2030, which is projected to bring the market volume to 234M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market value to $191.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Wood Pulp

For the eleventh year in a row, the global market recorded growth in consumption of wood pulp, which increased by 1% to 209M tons in 2022. The total consumption volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when the consumption volume increased by 2.8%. Global consumption peaked in 2022 and is expected to retain growth in years to come.

The global wood pulp market value was estimated at $149.5B in 2022, picking up by 2.7% 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). The market value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, the global market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (48M tons), China (48M tons) and Japan (8.9M tons), with a combined 51% share of global consumption.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +6.8%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($37.5B), the United States ($30.2B) and India ($4.7B) constituted the countries with the highest levels of market value in 2022, together accounting for 48% of the global market.

Among the main consuming countries, China, with a CAGR of +8.2%, 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 wood pulp per capita consumption in 2022 were Finland (948 kg per person), Sweden (658 kg per person) and Canada (229 kg per person).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +6.3%), while consumption for the other global leaders experienced more modest paces of growth.

Consumption By Type

Chemical wood pulp (163M tons) constituted the product with the largest volume of consumption, comprising approx. 78% of total volume. Moreover, chemical wood pulp exceeded the figures recorded for the second-largest type, mechanical wood pulp (24M tons), sevenfold. Semi-chemical wood pulp (12M tons) ranked third in terms of total consumption with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of the volume of chemical wood pulp consumption stood at +2.1%. With regard to the other consumed products, the following average annual rates of growth were recorded: mechanical wood pulp (-2.5% per year) and semi-chemical wood pulp (+0.8% per year).

In value terms, chemical wood pulp ($112.7B) led the market, alone. The second position in the ranking was taken by mechanical wood pulp ($19.2B). It was followed by dissolving grade wood pulp.

From 2012 to 2022, the average annual growth rate of the value of chemical wood pulp market amounted to +2.7%. For the other products, the average annual rates were as follows: mechanical wood pulp (-2.1% per year) and dissolving grade wood pulp (+2.6% per year).

Production

World Production of Wood Pulp

For the third year in a row, the global market recorded growth in production of wood pulp, which increased by 1.6% to 209M tons in 2022. The total output volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 3.4%. Over the period under review, global production hit record highs in 2022 and is likely to continue growth in years to come.

In value terms, wood pulp production shrank to $126.5B in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 28% against the previous year. Over the period under review, global production attained the peak level at $145B in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were the United States (49M tons), Brazil (26M tons) and China (22M tons), with a combined 47% share of global production.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +9.8%), while production for the other global leaders experienced more modest paces of growth.

Production By Type

Chemical wood pulp (163M tons) constituted the product with the largest volume of production, comprising approx. 78% of total volume. Moreover, chemical wood pulp exceeded the figures recorded for the second-largest type, mechanical wood pulp (25M tons), sevenfold. The third position in this ranking was taken by semi-chemical wood pulp (11M tons), with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of the volume of chemical wood pulp production stood at +2.1%. With regard to the other produced products, the following average annual rates of growth were recorded: mechanical wood pulp (-2.4% per year) and semi-chemical wood pulp (+0.0% per year).

In value terms, chemical wood pulp ($95B) led the market, alone. The second position in the ranking was held by mechanical wood pulp ($18.4B). It was followed by dissolving grade wood pulp.

From 2012 to 2022, the average annual rate of growth in terms of the value of chemical wood pulp production amounted to +1.7%. With regard to the other produced products, the following average annual rates of growth were recorded: mechanical wood pulp (-1.7% per year) and dissolving grade wood pulp (-0.0% per year).

Imports

World Imports of Wood Pulp

In 2022, approx. 71M tons of wood pulp were imported worldwide; surging by 3.1% on the year before. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 7.2%. As a result, imports reached the peak of 71M tons; afterwards, it flattened through to 2022.

In value terms, wood pulp imports soared to $56.2B in 2022. The total import value increased at an average annual rate of +4.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, China (26M tons) represented the largest importer of wood pulp, making up 37% of total imports. The United States (7M tons) ranks second in terms of the total imports with a 9.8% share, followed by Germany (6.1%) and Italy (5%). The Netherlands (2.9M tons), India (2.3M tons), South Korea (1.9M tons), France (1.7M tons), Turkey (1.6M tons), Japan (1.5M tons), Indonesia (1.3M tons), Poland (1.3M tons) and Spain (1.2M tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to wood pulp imports into China stood at +4.8%. At the same time, India (+8.8%), Turkey (+6.8%), the Netherlands (+6.6%), Poland (+6.2%), the United States (+3.3%) and Spain (+1.8%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +8.8% from 2012-2022. Italy and Indonesia experienced a relatively flat trend pattern. By contrast, Germany (-1.1%), France (-1.5%), Japan (-1.8%) and South Korea (-2.1%) illustrated a downward trend over the same period. While the share of China (+6.9 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of South Korea (-1.7 p.p.) and Germany (-2.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($21.1B) constitutes the largest market for imported wood pulp worldwide, comprising 37% of global imports. The second position in the ranking was taken by the United States ($4.8B), with an 8.5% share of global imports. It was followed by Germany, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +6.8%. The remaining importing countries recorded the following average annual rates of imports growth: the United States (+3.8% per year) and Germany (+0.1% per year).

Imports By Type

Chemical wood pulp prevails in imports structure, reaching 59M tons, which was approx. 84% of total imports in 2022. Dissolving grade wood pulp (7.1M tons) ranks second in terms of the total imports with a 10% share, followed by semi-chemical wood pulp (5.7%).

Imports of chemical wood pulp increased at an average annual rate of +2.6% from 2012 to 2022. At the same time, dissolving grade wood pulp (+5.5%) and semi-chemical wood pulp (+2.3%) displayed positive paces of growth. Moreover, dissolving grade wood pulp emerged as the fastest-growing type imported in the world, with a CAGR of +5.5% from 2012-2022. Dissolving grade wood pulp (+2.3 p.p.) significantly strengthened its position in terms of the global imports, while the shares of the other products remained relatively stable throughout the analyzed period.

In value terms, chemical wood pulp ($46.9B) constitutes the largest type of wood pulp imported worldwide, comprising 83% of global imports. The second position in the ranking was taken by dissolving grade wood pulp ($6.6B), with a 12% share of global imports. It was followed by semi-chemical wood pulp, with a 4.5% share.

For chemical wood pulp, imports increased at an average annual rate of +4.6% over the period from 2012-2022. With regard to the other imported products, the following average annual rates of growth were recorded: dissolving grade wood pulp (+3.3% per year) and semi-chemical wood pulp (+3.4% per year).

Import Prices By Type

The average wood pulp import price stood at $796 per ton in 2022, growing by 17% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2021 an increase of 28% against the previous year. Global import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major imported products. In 2022, the product with the highest price was dissolving grade wood pulp ($933 per ton), while the price for mechanical wood pulp ($576 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by chemical wood pulp (+2.0%), while the other products experienced more modest paces of growth.

Import Prices By Country

In 2022, the average wood pulp import price amounted to $796 per ton, growing by 17% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2021 when the average import price increased by 28% against the previous year. Global import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($986 per ton) and Turkey ($930 per ton), while South Korea ($662 per ton) and the United States ($691 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Wood Pulp

In 2022, the amount of wood pulp exported worldwide reached 71M tons, growing by 5% on the year before. The total export volume increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 when exports increased by 10% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, wood pulp exports rose notably to $48.2B in 2022. The total export value increased at an average annual rate of +3.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when exports increased by 25%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports By Country

Brazil was the major exporting country with an export of about 20M tons, which recorded 28% of total exports. Canada (8.7M tons) ranks second in terms of the total exports with a 12% share, followed by the United States (11%), Indonesia (8.3%), Chile (5.7%), Finland (5.6%) and Sweden (5.4%). The Netherlands (2.9M tons), Russia (2M tons), Germany (1.3M tons), Portugal (1.3M tons), South Africa (1.1M tons) and Malaysia (1.1M tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to wood pulp exports from Brazil stood at +8.3%. At the same time, Malaysia (+32.4%), the Netherlands (+10.6%), Finland (+5.7%), Indonesia (+4.2%), South Africa (+2.5%), Portugal (+1.6%), Sweden (+1.2%) and Germany (+1.1%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in the world, with a CAGR of +32.4% from 2012-2022. The United States, Russia and Chile experienced a relatively flat trend pattern. By contrast, Canada (-1.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil and the Netherlands increased by +11 and +2.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wood pulp supplying countries worldwide were Brazil ($8.5B), the United States ($7.2B) and Canada ($6.5B), together comprising 46% of global exports. Indonesia, Sweden, Finland, Chile, the Netherlands, Russia, South Africa, Germany, Portugal and Malaysia lagged somewhat behind, together accounting for a further 41%.

Malaysia, with a CAGR of +16.9%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

Chemical wood pulp represented the major exported product with an export of about 59M tons, which finished at 83% of total exports. It was distantly followed by dissolving grade wood pulp (7.4M tons) and semi-chemical wood pulp (3.5M tons), together making up a 15% share of total exports.

Exports of chemical wood pulp increased at an average annual rate of +2.7% from 2012 to 2022. At the same time, dissolving grade wood pulp (+7.3%) displayed positive paces of growth. Moreover, dissolving grade wood pulp emerged as the fastest-growing type exported in the world, with a CAGR of +7.3% from 2012-2022. Semi-chemical wood pulp experienced a relatively flat trend pattern. While the share of dissolving grade wood pulp (+3.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of chemical wood pulp (-1.6 p.p.) and semi-chemical wood pulp (-1.6 p.p.) displayed negative dynamics.

In value terms, chemical wood pulp ($39.2B) remains the largest type of wood pulp supplied worldwide, comprising 81% of global exports. The second position in the ranking was taken by dissolving grade wood pulp ($6.4B), with a 13% share of global exports. It was followed by semi-chemical wood pulp, with a 4.4% share.

For chemical wood pulp, exports increased at an average annual rate of +3.5% over the period from 2012-2022. For the other products, the average annual rates were as follows: dissolving grade wood pulp (+4.0% per year) and semi-chemical wood pulp (+1.0% per year).

Export Prices By Type

In 2022, the average wood pulp export price amounted to $677 per ton, growing by 9.2% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 23% against the previous year. The global export price peaked at $699 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the product type; the product with the highest price was dissolving grade wood pulp ($856 per ton), while the average price for exports of mechanical wood pulp ($564 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by mechanical wood pulp (+1.8%), while the other products experienced more modest paces of growth.

Export Prices By Country

The average wood pulp export price stood at $677 per ton in 2022, surging by 9.2% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 23% against the previous year. The global export price peaked at $699 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($1,059 per ton), while Malaysia ($172 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (+3.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform