Highlights
In 2021, COVID-19 continues to haunt the global economy, in addition to the constantly changing macro-expectation and speculative pulp futures market, the wood pulp spot market price in China surged and fell. The wood pulp import volume of China rose by 5.12% Y-O-Y during the first 7 months of 2021. Therein, the UKP import volume ramped up notably by 19.63% Y-O-Y resulted from tight feedstock supply due to China’s solid waste import ban. The HWP import volume was 7,696.4kt, up 3.66% Y-O-Y. The 271.5kt increment of HWP import volume ranked first amongst four major pulp varieties, and this was related to changes in feedstock structure of downstream paper industries as well as the price spread between SWP and HWP.
In H2 of 2021, paper producers in China have attempted to raise the paper price consecutively, but the price hike attempts merely triggered a wait-and-see sentiment in the market because paper exports are hindered by COVID-related restrictions, and there is no apparent increase in domestic consumption. Meanwhile, paper mills have been cautiously watching feedstock price changes and pulp shipments at ports. How will the pulp market fundamentals evolve in the future?
New pulp capacity is being released worldwide. Therein, new integrated pulp and paper projects have been announced in China throughout 2021, and the industry concentration ratio will rise constantly with the commissioning of new integrated projects of APP and Sun Paper during H2 of the year. Besides, leading packaging paper producers have also announced new integrated projects. In the future, there will be both opportunities and challenges in virgin-based and recycled-based paper industries. With the constant expansion of pulp capacity in China, how will the tissue of tight feedstock supply be solved?
New pulp projects after 2021 are mainly designed for HWP and CMP production. The 2,800kt/a BEK capacity of Bracell is scheduled for commissioning in Q3 of 2021, and low-priced HWP import from Indonesia continues to affect the market. In the meantime, Brazilian pulp producers maintain high export volume to China benefited from low production costs. How will domestic pulp producers react in the face of rising supply pressure in the HWP spot market? Will the spread between SWP and HWP continue to expand? What changes will take place in paper mills' feedstock structure if the price spread does expand? The SCI Pulp Market Annual Report will review the industry fundamentals changes and forecast future development through comprehensive and detailed data analysis.
SCI has been closely monitoring the pulp industry information and witnessing the development of the industry since it was founded. The 2021-2022 China Pulp Market Annual Report meets the market demand and analyzes the reasons behind the changes in supply and demand through important data changes. Focusing on the market supply and demand, SCI monitors and analyzes the production and sales of major overseas pulp producers and offers detailed pulp export data to China. Also, SCI researches pulp inventories in major domestic regions and analyzes the unit operating rates at pulp producers in China and the consumption structure at downstream industries, to systematically demonstrate the current status and future trends of the pulp and downstream industries.
Report value
1. To provide comprehensive understandings of the changes in the pulp market through analyzing the pulp market demand and supply factors both in China and overseas.
2. To provide analysis on changes in downstream market consumption patterns and pulp demand.
3. To review the pulp price trend and decipher its key drivers.
4. To provide a forecast for the pulp market in 2022-2024 based on factors in regards to market fundamental and macro-environment changes.
Contents
Part 1 Pulp Market Overview
Part 2 2017-2021 China Pulp Supply-Demand Balance Analysis
Part 3 Pulp Supply Pattern and Change Trend Analysis
3.1 Global Pulp Market Analysis
3.1.1 Global Pulp Output and Apparent Consumption Statistics
3.1.2 Pulp Shipment Volume from Major Exporters to China
3.1.3 Wood Pulp Production and Sales Statistics of Major Listed Pulp Producers
3.2 China Pulp Market Analysis
3.2.1 China Pulp Output Analysis
3.2.2 2017-2021 Pulp Import Volume Change and Analysis
3.2.3 Pulp Import Pattern Analysis
3.2.4 The Impact of Pulp Import Volume Change on China Market
3.2.5 2017-2021 Pulp Inventory at China Main Ports
3.3 Pulp Supply Forecast
3.3.1 Planned and Under Construction Pulp Capacity Expansion Project Statistics
3.3.2 2022 Pulp Capacity Forecast
Part 4 Pulp Demand Pattern and Change Trend Analysis
4.1 Global Pulp Demand Pattern Analysis
4.2 Pulp Export Volume Change Trend and Analysis
4.3 China Pulp Consumption Pattern by Industry
4.4 China Pulp Downstream Customer Size and Demand Change Analysis
4.5 Customer Size Statistics in Major Regions and Major Downstream Industries of China
4.6 2022 China Downstream Industry Consumption Growth Forecast
4.7 2022 Pulp Consumption Volume Forecast
4.8 Pulp Consumption Peak and Off-Season Analysis
4.9 Pulp Downstream User Procurement Key Influencing Factor Analysis
4.10 Operating Risks and Barriers Analysis
Part 5 Pulp Price Trend Analysis
5.1 Imported Wood Pulp Price Analysis
5.1.1 China Wood Pulp USD Import Price Trend Analysis
5.1.2 China Imported Wood Pulp Spot Price Trend Analysis
5.2 Chinese-Made Pulp Price Trend Analysis
5.2.1 Chinese-Made Wood Pulp Price Trend Analysis
5.2.2 Chinese-Made Non-Wood Pulp Price Trend Analysis
5.3 Futures Price and Spot Price Comparison Analysis
5.4 Related Product Price Co-Movement Analysis
Part 6 2022-2024 Pulp Industry Trend Forecast
6.1 Pulp Price Driving Factor Future Trend Forecast
6.1.1 Interpretation on Influences of Macro-environment Factors
6.1.2 National and Industry Policy Analysis
6.1.3 Supply and Demand Balance Forecast
6.1.4 Competition Pattern Analysis and Forecast
6.1.5 Value Chain Analysis and Forecast
6.1.6 Related Product Price Co-Movement Influence Forecast
6.2 2022-2024 Influence Extent Analysis of Major Pulp Price Drivers
6.3 2022-2024 Pulp Price Trend Forecast
6.3.1 2022-2024 Imported Pulp Spot Price Trend Forecast
6.3.2 2022-2024 Chinese-Made Non-Wood Pulp Price Trend Forecast
Appendix
1. Pulp Market Hot Topics
2. Pulp Market Annual Events
3. Methodology and Related Definition
4. Table & Charts
5. Related Product Annual Reports:
2021-2022 China Cultural Paper Market Annual Report
2021-2022 China Tissue Paper Market Annual Report
2021-2022 China Duplex Board and Ivory Board Market Annual Report
2021-2022 China Waste Paper Market Annual Report
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