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The global pulp and paper market size is projected to reach USD 368.10 billion by 2027. It is likely to gain traction from the increasing demand for paper bags and corrugated boxes worldwide on account of the rising online retailing. Fortune Business Insights™ provided this information in a new report, titled, “Pulp and Paper Market Size, Share & COVID-19 Impact Analysis, By Category (Wrapping & Packaging, Printing & Writing, Sanitary, News Print and Others), and Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 348.83 billion in 2019. It is expected to show a CAGR of 0.8% during the forecast period between 2020 to 2027.
Kimberly-Clark Corporation Invests $120 Million to Broaden Oklahoma Mill
In March 2019, Kimberly-Clark Corporation, a multinational personal care corporation based in Texas, is set to invest USD 120 million to expand the Oklahoma mill. It was constructed back in 1990 and produces Scott and Cottonelle toilet papers. A regional distribution center is also present in the facility. This new investment would help in expanding the facility by 25,000 square meters. The company would soon install new equipment and resources for making Scott bath tissue and Kleenex folded tissue products. It will be completed by 2020. This would also open new job opportunities for many people. The hiring process would commence in August.
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COVID-19: Increasing Demand for Tissue Papers from Hospitals to Boost Growth
The outbreak of the COVID-19 pandemic has created immense demand for tissue papers from hospitals across the globe. Therefore, reputed pulp and paper manufacturers are focusing on satiating the unmet need. Kimberly-Clark Corporation, for instance, surged the production of toilet papers to donate them in medical institutions amid COVID-19. The pandemic has also raised the demand for antimicrobial tissues for preventing the transmission of coronavirus. However, wood is a vital raw material for making paper. But, increasing deforestation is becoming a challenge for the pulp and paper market growth.
Key Players Aim to Gain Competitive Edge by Expanding Production Facilities
The companies operating in the global market for this paper and pulp are engaging in various strategies to gain a competitive edge. Acquisitions and expansion of production facilities are two of the most practiced strategies.
Fortune Business Insights™ presents a list of all the pulp and paper producers operating in the global market. They are as follows:
A Notable Industry Development-
Further Report Findings-
The global market can be segmented in the following way:
Value (USD Billion) Volume (Million Tons)
Application and Geography