Rising demand for eco-friendly packaging solutions has been enabling growth in the global unbleached softwood kraft pulp market, finds Future Market Insights (FMI) in a recent market study. According to FMI, the global unbleached softwood kraft pulp market is expected to rise at 4.6% CAGR during the forecast period from the year 2022 to 2030.
Pulp packaging is bio degradable and environment friendly as well as cost-effective to be used widely in the retail and logistics sectors. As a result, the global market is expanding consistently with the increase in demand from the packaging industry.
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Unbleached softwood kraft pulp being the main sustainable raw material for the pulp and paper industry, has a broad range of applications starting from printing to wrapping, making it highly required all over the world. As the focus on restructuring of production units is increasing fast, the demand for unbleached softwood kraft pulp products are getting sky-high all over the world.
Despite facing decline in market growth due to COVID-19 pandemic, global unbleached softwood kraft pulp market hold high potential to expand further in the coming years.
FMI offers an exhaustive overview of the global market as well as its growth drivers and restraints.
Some of the key takeaways from the report are highlighted below-
- Northern unbleached softwood kraft pulp is anticipated to dominate the global market among all other product types
- Grade-wise, chemical pulp is expected to maintain the lead throughout the forecast period
- Packaging industry and other packaging products are anticipated to exhibit hegemony among all other applications during the forecast period
- Packaging industry is set to emerge as the dominant end user among all other industries
- Australia will dominate all other countries during the forecast period followed by New Zealand
- Increase in concern for environment is expected to expand the green packaging solutions industry further, resulting in propelling the global market growth
“Increasing demand for sustainable raw materials for diverse applications such as printing, writing, packaging, and others are steering the unbleached softwood kraft pulp market growth. Considering this, surging environmental concerns will bode well for the market, enabling sales in the coming years,” says an FMI analyst.
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COVID-19 Impact Analysis
Due to the outbreak of COVID-19 pandemic in the current year, the global market growth has declined due to the decrease in unbleached softwood kraft pulp products demand. The restraining factors such as non-operational manufacturing units, scarcity of raw materials, unavailability of enough manpower, financial crisis, job recession, and others have further decreased the market growth in the year 2021.
According to FMI, the global unbleached softwood kraft pulp market is anticipated to gain back its full potential by the first quarter of 2022.
Who is Winning
In order to leverage the unbleached softwood kraft pulp market potential, the key market players are investing heavily with emphasis on launching quality products to target diverse end users.
For instance, Domtar Corporation has announced mill conversion in partnership with Kingsport in November, 2021 in order to produce more quality unbleached softwood kraft pulp. They have also released their LIGHTHOUSE® FLUFF PULP and PAPERGRADE PULP in year 2022 which are used worldwide for manufacturing various products such as baby diapers, adult incontinence products, feminine hygiene products, printing and writing products, tissues, towels, packaging grades, and others.
Canfor Corporation has launched their advanced ranges of Kodiak Kraft and polar kraft in the current year, which are manufactured from forest resource and popular for their high strength, efficiency, and fine northern fibers. Canfor Corporation has also been named a BC Top employer for the 7th year in 2022.
According to FMI, as the global market is growing fast by both its value and volume, the key market players are expected to experience tough competition in the coming years.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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