Wood Pulp, Excluding Mechanical Wood Pulp Market

The global wood pulp market is anticipated to continue an upward consumption trend over the next eight years, with a forecasted increase in market volume and value. The market performance is expected to expand with a CAGR of +2.0% in volume and +4.1% in value from 2022 to 2030. In 2022, the United States, China, and Japan were the top countries in terms of consumption. Brazil led in production and exports, while China was the main importer. Chemical wood pulp dominated the export market, with dissolving grade wood pulp showing the fastest growth. Average prices for wood pulp exports varied across countries and product types, with dissolving grade wood pulp commanding a higher price in 2022.

Market Forecast

Driven by increasing demand for wood pulp, excluding mechanical 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 +2.0% for the period from 2022 to 2030, which is projected to bring the market volume to 204M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.1% for the period from 2022 to 2030, which is projected to bring the market value to $192.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Wood Pulp, Excluding Mechanical Wood Pulp

In 2022, the amount of wood pulp, excluding mechanical wood pulp consumed worldwide contracted to 174M tons, remaining constant against 2021 figures. The total consumption volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when the consumption volume increased by 4.6%. Global consumption peaked at 176M tons in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

The value of the market for wood pulp, excluding mechanical wood pulp worldwide expanded slightly to $139.5B in 2022, growing 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). In general, consumption, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 8.4%. As a result, consumption attained the peak level of $146B. From 2019 to 2022, the growth of the global market failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (49M tons), China (40M tons) and Japan (8.3M tons), with a combined 56% share of global consumption. Sweden, Lao People's Democratic Republic, India, Indonesia, Russia, Germany, Finland, Italy, France and Uruguay lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the biggest increases were recorded for Uruguay (with a CAGR of +9.4%), while pulp for the other global leaders experienced more modest paces of growth.

In value terms, the largest wood pulp, excluding mechanical wood pulp markets worldwide were the United States ($45.5B), China ($30.2B) and Japan ($6.5B), together accounting for 59% of the global market. Indonesia, Sweden, Germany, India, Russia, Italy, France, Finland, Uruguay and Lao People's Democratic Republic lagged somewhat behind, together comprising a further 21%.

Lao People's Democratic Republic, with a CAGR of +9.6%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while pulp for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of wood pulp, excluding mechanical wood pulp per capita consumption in 2022 were Finland (801 kg per person), Uruguay (789 kg per person) and Sweden (584 kg per person).

From 2012 to 2022, the biggest increases were recorded for Uruguay (with a CAGR of +9.0%), while pulp for the other global leaders experienced more modest paces of growth.

Production

World Production of Wood Pulp, Excluding Mechanical Wood Pulp

In 2022, production of wood pulp, excluding mechanical wood pulp increased by 0.1% to 173M tons, rising for the second year in a row after two years of decline. The total output volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the production volume increased by 4.5%. As a result, production reached the peak volume of 173M tons. From 2019 to 2022, global production of growth remained at a lower figure.

In value terms, production of wood pulp, excluding mechanical wood pulp declined slightly to $118.2B in 2022 estimated in export price. Over the period under review, production, however, showed a mild contraction. The pace of growth appeared the most rapid in 2014 with an increase of 53% against the previous year. As a result, production reached the peak level of $193.9B. From 2015 to 2022, global production of growth remained at a somewhat lower figure.

Production By Country

The United States (50M tons) remains the largest wood pulp, excluding mechanical wood pulp producing country worldwide, comprising approx. 29% of total volume. Moreover, production of wood pulp, excluding mechanical wood pulp in the United States exceeded the figures recorded by the second-largest producer, Brazil (21M tons), twofold. China (14M tons) ranked third in terms of total production with a 7.9% share.

In the United States, production of wood pulp, excluding mechanical wood pulp remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Brazil (+4.2% per year) and China (+4.9% per year).

Imports

World Imports of Wood Pulp, Excluding Mechanical Wood Pulp

In 2022, the amount of wood pulp, excluding mechanical wood pulp imported worldwide totaled 70M tons, growing by 2.1% against the previous year's figure. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2020 when imports increased by 6.9%. As a result, imports attained the peak of 70M tons. From 2021 to 2022, the growth of global imports of remained at a lower figure.

In value terms, imports of wood pulp, excluding mechanical wood pulp surged to $56.7B in 2022. In general, total imports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.1% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 26%. Over the period under review, global imports of hit record highs in 2022 and are likely to see steady growth in years to come.

Imports By Country

China represented the main importer of wood pulp, excluding mechanical wood pulp in the world, with the volume of imports amounting to 26M tons, which was approx. 37% of total imports in 2022. The United States (6.9M tons) held a 9.8% share (based on physical terms) of total imports, which put it in second place, followed by Germany (6.1%), Italy (4.9%) and the Netherlands (4.6%). India (2.3M tons), South Korea (2.1M 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.

Imports into China increased at an average annual rate of +4.8% from 2012 to 2022. At the same time, India (+9.0%), the Netherlands (+8.1%), Turkey (+6.8%), Poland (+6.2%), the United States (+3.3%), Spain (+1.9%) and Indonesia (+1.7%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in the world, with a CAGR of +9.0% from 2012-2022. Italy and Japan experienced a relatively flat trend pattern. By contrast, South Korea (-1.0%), Germany (-1.0%) and France (-1.4%) illustrated a downward trend over the same period. While the share of China (+6.7 p.p.) and the Netherlands (+1.8 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of 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, excluding mechanical wood pulp worldwide, comprising 37% of global imports. The second position in the ranking was held by the United States ($4.8B), with an 8.4% share of global imports. It was followed by Germany, with a 6.3% share.

In China, imports of wood pulp, excluding mechanical wood pulp increased at an average annual rate of +6.8% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United States (+3.8% per year) and Germany (+0.2% per year).

Imports By Type

Chemical wood pulp represented the major imported product with an import of around 59M tons, which accounted for 84% of total imports. 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%).

From 2012 to 2022, average annual rates of growth with regard to chemical wood pulp imports of stood at +2.6%. 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. From 2012 to 2022, the share of dissolving grade wood pulp increased by +2.3 percentage points. 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, excluding mechanical wood pulp imported worldwide, comprising 84% 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.

For chemical wood pulp, imports expanded 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

In 2022, the average import price for wood pulp, excluding mechanical wood pulp amounted to $807 per ton, with an increase of 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 29% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat 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 semi-chemical wood pulp ($628 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 mixed trends in the import price figures.

Import Prices By Country

The average import price for wood pulp, excluding mechanical wood pulp stood at $807 per ton in 2022, jumping by 17% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 29%. Global import price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Japan ($987 per ton) and Turkey ($925 per ton), while the United States ($693 per ton) and South Korea ($773 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Wood Pulp, Excluding Mechanical Wood Pulp

In 2022, approx. 70M tons of wood pulp, excluding mechanical wood pulp were exported worldwide; with an increase of 4.9% on the previous year's figure. The total export volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 8.3% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, exports of wood pulp, excluding mechanical wood pulp rose notably to $47.4B in 2022. The total export value increased at an average annual rate of +3.3% 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 23% against the previous year. Over the period under review, the global exports of reached the maximum in 2022 and are expected to retain growth in the near future.

Exports By Country

In 2022, Brazil (20M tons) represented the major exporter of wood pulp, excluding mechanical wood pulp, achieving 28% of total exports. It was distantly followed by Canada (8.6M tons), the United States (7.8M tons), Indonesia (5.7M tons), Finland (4.1M tons), Chile (4.1M tons) and Sweden (3.8M tons), together committing a 49% share of total exports. The following exporters - the Netherlands (3M tons), Russia (2.2M tons), Portugal (1.2M tons), Germany (1.2M tons) and South Africa (1.1M tons) - together made up 13% of total exports.

From 2012 to 2022, average annual rates of growth with regard to wood pulp, excluding mechanical wood pulp exports from Brazil stood at +8.3%. At the same time, the Netherlands (+11.9%), Indonesia (+6.0%), Finland (+5.6%), South Africa (+2.6%), Portugal (+1.4%), Sweden (+1.2%) and Germany (+1.1%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +11.9% from 2012-2022. Russia, the United States and Chile experienced a relatively flat trend pattern. By contrast, Canada (-1.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Brazil, the Netherlands and Indonesia increased by +12, +2.5 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wood pulp, excluding mechanical wood pulp supplying countries worldwide were Brazil ($8.4B), the United States ($7.1B) and Canada ($6.5B), with a combined 46% share of global exports. Indonesia, Sweden, Finland, Chile, the Netherlands, Russia, South Africa, Germany and Portugal lagged somewhat behind, together accounting for a further 42%.

In terms of the main exporting countries, the Netherlands, with a CAGR of +12.0%, 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.

Exports By Type

Chemical wood pulp represented the largest type of wood pulp, excluding mechanical wood pulp in the world, with the volume of exports resulting at 59M tons, which was near 84% of total exports in 2022. Dissolving grade wood pulp (7.4M tons) took the second position in the ranking, followed by semi-chemical wood pulp (3.5M tons). All these products together held approx. 16% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to chemical wood pulp exports of stood at +2.7%. 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. From 2012 to 2022, the share of dissolving grade wood pulp increased by +3.6 percentage points.

In value terms, chemical wood pulp ($39.2B) remains the largest type of wood pulp, excluding mechanical wood pulp supplied worldwide, comprising 82% of global exports. The second position in the ranking was held by dissolving grade wood pulp ($6.4B), with a 13% share of global exports.

From 2012 to 2022, the average annual rate of growth in terms of the value of chemical wood pulp exports amounted to +3.5%. 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 export price for wood pulp, excluding mechanical wood pulp amounted to $681 per ton, surging by 9.3% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 24% against the previous year. Over the period under review, the average export prices hit record highs at $701 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exported products. In 2022, the product with the highest price was dissolving grade wood pulp ($856 per ton), while the average price for exports of semi-chemical wood pulp ($602 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by semi-chemical wood pulp (+1.0%), while the other products experienced mixed trends in the export price figures.

Export Prices By Country

The average export price for wood pulp, excluding mechanical wood pulp stood at $681 per ton in 2022, growing by 9.3% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 24% against the previous year. The global export price peaked at $701 per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Africa ($1,054 per ton), while Brazil ($423 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 (+3.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform