Competition is stiff in the global pulp market because of the presence of numerous players. In order to up the ante against their rivals, the companies are seen focusing on better products and competitive pricing – two things necessary to grow sales. Bigger, deep-pocketed players are also banking upon expansion strategies to grow their footprints and improve sales. They are also entering into long-term contracts with users for that matter.
Leveraging such strategies, some of the players that have come to hold a prominent position in the global pulp market are Rayonier Advanced Materials, Nippon Paper Group, Packaging Corporation of America, UPM-Kymmene, and Oji Paper.
Transparency Market Research’s report on the global pulp market finds that it would rise steadily at a CAGR of 3.7% from 2017 to 2026 to become worth US$60,000 mn by 2026-end.
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There are different grades of pulp available in the market these days. Of them, the chemical wood pulp is seeing rising uptake in various applications, particularly in the manufacture of high-quality paper. From a geographical standpoint, the global pulp market is led by Asia Pacific except Japan which holds an outsize market share. A surging demand for paper-based products has pushed up demand for pulp production in the region.
Demand for Sustainable packaging Bodes Well for Global Pulp Market
High demand for sustainable packaging solutions that involve lightweight, smaller, and recyclable materials, has provided a major boost to the global pulp market. Thrust on better packaging and logistical solutions has also enabled the market to progress. Elaborates the lead analyst of our report, “Pulp finds major application in producing both primary and secondary packaging materials owing to its high protective cushioning properties and affordability. Reprocessing of pulp along with its biodegradable offerings is generating more opportunities in the market.”