Amid the COVID-19 crisis, the global market for Paper Pulp estimated at USD238.1 billion in the year 2020, is projected to reach a revised size of USD290 billion by 2027, growing at a CAGR of 2.9% over the analysis period 2020-2027. Wood Pulp, one of the segments analyzed in the report, is projected to record a 3.2% CAGR and reach USD196.5 billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Recycled Pulp segment is readjusted to a revised 2.2% CAGR for the next 7-year period.
The Paper Pulp market in the U.S. is estimated at USD64.3 billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of USD59.1 billion by the year 2027 trailing a CAGR of 5.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.7% and 2.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.4% CAGR.
Non-Wood Pulp Segment to Record 2.5% CAGR
In the global Non-Wood Pulp segment, USA, Canada, Japan, China and Europe will drive the 2.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of USD16 billion in the year 2020 will reach a projected size of USD18.5 billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach USD39.9 billion by the year 2027, while Latin America will expand at a 3.3% CAGR through the analysis period.