A new study from FMI, “Unbleached Softwood Kraft Pulp Market,” finds that rising demand for eco-friendly packaging solutions has been enabling growth in the global unbleached softwood kraft pulp market. According to the study, the global unbleached softwood kraft pulp market is expected to rise at 4.6% CAGR during the forecast period from the year 2020 to 2030.
Pulp packaging is biodegradable and cost-effective, lending itself to wide use in the retail and logistics sectors. As a result, the global market is expanding consistently with the increase in demand from the packaging industry.
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 a decline in market growth due to the COVID-19 pandemic, the global unbleached softwood kraft pulp market holds high potential to expand further in the coming years.
The new study offers an overview of the global market as well as its growth drivers and restraints.
Some of the key takeaways from the report are:
- 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.
- The packaging industry and other packaging products are anticipated to exhibit hegemony among all other applications during the forecast period.
- The 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.
- An increase in concern for environment is expected to expand the green packaging solutions industry further, resulting in propelling the global market growth.
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 2020.
According to an analyst, the global unbleached softwood kraft pulp market is anticipated to gain back its full potential by the first quarter of 2021.
Visit www.futuremarketinsights.com/reports/unbleached-softwood-kraft-pulp-market for more information.