Global Mechanical Wood Pulp Market: Anticipated to Reach 25M Tons in Volume and $19.2B in Value by 2030

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Driven by rising demand worldwide, the mechanical wood pulp market is predicted to see a slight increase in performance, with a projected CAGR of +1.0% in volume and +3.2% in value from 2024 to 2030. By the end of 2030, the market volume is estimated to reach 25M tons, with a market value of $19.2B in nominal prices.

Market Forecast

Driven by rising demand for mechanical wood pulp worldwide, the market is expected to start an upward consumption trend over the next six years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.0% for the period from 2024 to 2030, which is projected to bring the market volume to 25M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.2% for the period from 2024 to 2030, which is projected to bring the market value to $19.2B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Mechanical Wood Pulp

In 2024, approx. 24M tons of mechanical wood pulp were consumed worldwide; approximately equating the previous year. Overall, consumption saw a pronounced descent. The most prominent rate of growth was recorded in 2023 when the consumption volume increased by 3.2%. Over the period under review, global consumption reached the peak volume at 30M tons in 2013; however, from 2014 to 2024, consumption remained at a lower figure.

The global mechanical wood pulp market revenue totaled $15.9B in 2024, surging by 2.4% 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). Over the period under review, consumption showed a mild contraction. The pace of growth appeared the most rapid in 2019 when the market value increased by 7.4%. Global consumption peaked at $19.5B in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.

Consumption By Country

Canada (5.4M tons) constituted the country with the largest volume of mechanical wood pulp consumption, comprising approx. 23% of total volume. Moreover, mechanical wood pulp consumption in Canada exceeded the figures recorded by the second-largest consumer, the United States (2M tons), threefold. The third position in this ranking was held by Russia (2M tons), with an 8.5% share.

From 2013 to 2024, the average annual rate of growth in terms of volume in Canada amounted to -3.2%. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (-4.7% per year) and Russia (+3.0% per year).

In value terms, the largest mechanical wood pulp markets worldwide were Canada ($2.4B), Russia ($1.2B) and China ($948M), with a combined 29% share of the global market. The United States, Indonesia, India, Germany, Sweden, New Zealand and Finland lagged somewhat behind, together comprising a further 21%.

New Zealand, with a CAGR of +5.0%, recorded the highest growth rate of market size in terms of the main consuming countries 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 2024 were Canada (137 kg per person), New Zealand (116 kg per person) and Finland (90 kg per person).

From 2013 to 2024, the biggest increases were recorded for Russia (with a CAGR of +3.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Mechanical Wood Pulp

In 2024, approx. 24M tons of mechanical wood pulp were produced worldwide; approximately reflecting 2023. Overall, production recorded a pronounced descent. The pace of growth appeared the most rapid in 2021 when the production volume increased by 1.9%. Global production peaked at 30M tons in 2013; however, from 2014 to 2024, production stood at a somewhat lower figure.

In value terms, mechanical wood pulp production stood at $16B in 2024 estimated in export price. Over the period under review, production saw a noticeable decrease. The most prominent rate of growth was recorded in 2019 when the production volume increased by 12%. Global production peaked at $20B in 2013; however, from 2014 to 2024, production stood at a somewhat lower figure.

Production By Country

The country with the largest volume of mechanical wood pulp production was Canada (5.3M tons), accounting for 23% of total volume. Moreover, mechanical wood pulp production in Canada exceeded the figures recorded by the second-largest producer, the United States (2M tons), threefold. Russia (2M tons) ranked third in terms of total production with an 8.5% share.

In Canada, mechanical wood pulp production contracted by an average annual rate of -3.3% over the period from 2013-2024. The remaining producing countries recorded the following average annual rates of production growth: the United States (-4.5% per year) and Russia (+3.0% per year).

Imports

World Imports of Mechanical Wood Pulp

In 2024, after three years of decline, there was growth in supplies from abroad of mechanical wood pulp, when their volume increased by 1.7% to 288K tons. Over the period under review, imports, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2018 when imports increased by 16%. Global imports peaked at 763K tons in 2013; however, from 2014 to 2024, imports remained at a lower figure.

In value terms, mechanical wood pulp imports amounted to $176M in 2024. Overall, imports, however, continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2018 when imports increased by 23%. Global imports peaked at $418M in 2013; however, from 2014 to 2024, imports stood at a somewhat lower figure.

Imports By Country

Canada (38K tons), Turkey (26K tons), Italy (24K tons), Denmark (22K tons), France (18K tons), the United States (17K tons), Germany (15K tons), Sweden (13K tons) and Argentina (13K tons) represented roughly 64% of total imports in 2024. China (12K tons) took a relatively small share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Turkey (with a CAGR of +47.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Canada ($20M), Italy ($14M) and Denmark ($13M) constituted the countries with the highest levels of imports in 2024, together accounting for 27% of global imports. France, Turkey, Argentina, Germany, Sweden, China and the United States lagged somewhat behind, together comprising a further 38%.

In terms of the main importing countries, Turkey, with a CAGR of +42.4%, recorded 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

In 2024, the average mechanical wood pulp import price amounted to $613 per ton, with an increase of 1.6% against the previous year. Over the last eleven-year period, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2022 an increase of 20%. Over the period under review, average import prices reached the peak figure in 2024 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Argentina ($811 per ton), while the United States ($419 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Sweden (+3.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Mechanical Wood Pulp

In 2024, overseas shipments of mechanical wood pulp decreased by -16.3% to 330K tons, falling for the second year in a row after three years of growth. In general, exports saw a deep slump. The pace of growth was the most pronounced in 2017 with an increase of 26% against the previous year. The global exports peaked at 843K tons in 2022; however, from 2023 to 2024, the exports stood at a somewhat lower figure.

In value terms, mechanical wood pulp exports dropped slightly to $211M in 2024. Overall, exports saw a pronounced slump. The pace of growth appeared the most rapid in 2021 with an increase of 39% against the previous year. Over the period under review, the global exports hit record highs at $477M in 2022; however, from 2023 to 2024, the exports remained at a lower figure.

Exports By Country

The biggest shipments were from Norway (63K tons), the United States (47K tons), Germany (44K tons), New Zealand (33K tons), Croatia (32K tons) and the Netherlands (25K tons), together amounting to 74% of total export. It was distantly followed by Canada (17K tons) and Spain (16K tons), together committing a 9.9% share of total exports.

From 2013 to 2024, the biggest increases were recorded for the United States (with a CAGR of +4.5%), while shipments for the other global leaders experienced mixed trends in the exports figures.

In value terms, the largest mechanical wood pulp supplying countries worldwide were Norway ($35M), Germany ($25M) and the United States ($20M), with a combined 38% share of global exports.

In terms of the main exporting countries, the United States, with a CAGR of +4.4%, saw 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 $641 per ton in 2024, increasing by 18% against the previous year. Over the period under review, export price indicated noticeable growth from 2013 to 2024: its price increased at an average annual rate of +2.8% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, mechanical wood pulp export price increased by +57.4% against 2020 indices. The pace of growth appeared the most rapid in 2022 when the average export price increased by 21%. The global export price peaked in 2024 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Spain ($621 per ton), while New Zealand ($377 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Spain (+3.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform