The North America pulp and paper market size garnered USD 64.32 billion in 2021. The market is estimated to rise from USD 64.51 billion in 2022 to USD 65.10 billion by 2029 at a 0.13% CAGR during the forecast period. Fortune Business Insights™ has elucidated these inputs in its latest research report, titled, “North America Pulp and Paper Market, 2022-2029.”
According to the study, packaging paper has become highly sought-after across the U.S. and Canada in the wake of the rising footprint of sanitary and specialty papers. Moreover, soaring demand for packaging and the penetration of big data and smart sensors will fuel regional growth. Stakeholders expect the global push for recycling to play an invaluable role in fueling the industry growth.
Major Players Profiled in the Report:
International Paper (U.S.)
Georgia-Pacific Corporation (U.S.)
WestRock (U.S.)
Packaging Corporation of America (U.S.)
Domtar Inc. (U.S.)
Graphic Packaging International (U.S.)
Verso Corporation (U.S.)
Resolute Forest Products (Canada)
Sappi Ltd. (U.S.)
Kimberly-Clark Corporation (U.S.)
Segments
With respect to category, the market is segmented into printing & writing, wrapping & packaging, news print, sanitary, and others.
In terms of country, the market is segregated into the U.S. and Canada.
Report Coverage
The report offers a comprehensive perspective of the market size, share, revenue, and volume. It has also delved into Porters’ Five Force Analysis SWOT analysis. Quantitative and qualitative assessments have been used to provide a holistic view of the market of North America pulp and paper. The primary interviews validate assumptions, findings and the prevailing business scenarios. The report also includes secondary resources, such as annual reports, press releases, white papers and journals.
Drivers and Restraints
Sensor Technology and Shift Toward Recycling Underscore Growth
With paper mills adopting advanced technologies to boost energy efficiency and streamline information, the North America pulp and paper market growth could witness an upward trajectory. A notable use of advanced sensors could add fillip to the North America pulp and paper manufacturers. Moreover, the penetration of paper recycling to boost transportation, sorting and collection will augur well for the business outlook. The American Forest & Paper Association (AF&PA) claimed that approximately 65.7% of paper consumed in the U.S. was recycled in 2020. Favorable policies across New Jersey, Wisconsin, California, Pennsylvania and Rhode Island will foster regional growth.
That said, the rising preference for digital media in the print and education industries has challenged leading companies in the landscape.
Regional Insights
The U.S. is expected to provide lucrative growth opportunities following the wrapping & packaging solutions trend. The U.S. pulp and paper manufacturers and suppliers are slated to gain traction from the availability of raw materials and investments in technological advancements in paper manufacturing. It is worth noting that sustainable paper packaging could add fillip to regional growth. So much so that recyclable packaging has become the go-to trend in online retailing, boding well for the business outlook.
Canada is expected to contribute notably toward the North America pulp and paper market size, largely due to the rising footfall of recyclable packaging. Besides, rising concern about the non-recyclability of plastics is poised to encourage end-users to invest in sustainable products. In essence, pharmaceutical, food & beverage and fast-moving consumer goods companies have upped investments in sustainable packaging across Canada.
Competitive Landscape
Major Players Invest in Product Portfolio Expansion to Tap Markets
Well-established players and new entrants are slated to inject funds into mergers & acquisitions, product launches, R&D activities, and innovation. With focus shifting toward AI and sensors, industry players are likely to boost their strategies.
Key Industry Development
February 2022: Georgia-Pacific announced a USD 20 million expansion of the oriented strand board (OSB) facility in South Carolina. The company contemplates bolstering its position in the regional paperboard market.
Information Source: https://www.fortunebusinessinsights.com/north-america-pulp-and-paper-market-106617