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The global pulp and paper market is worth $351.53 billion in 2021 - up from the previous year. In 2020, the global pulp and paper market is down 0.1%, with the COVID-19 outbreak causing disruption across the industry. The pulp and paper market is expected to grow in the coming years to reach a value of nearly US$373 billion by 2029, recording a CAGR of 0.72% from 2022. Products in the market includes wrapping and packaging paper, newsprint and printing, and writing paper.

The development of China's pulp and paper industry is attracting increasing interest from international scholars, policymakers and manufacturers. The pulp and paper industry is one of the few industries in China suffering from a supply shortage. Domestic production cannot meet domestic demand, especially for high-grade paper and paperboard products due to old production techniques and lack of high-quality raw materials. Therefore, unlike other Chinese products, China imports more pulp and paper products than it exports. By 2020, China will increase the import of chemical wood pulp by 10% to 24 million tons. This was driven by growing demand for paper packaging and tableware amid the pandemic and further stimulated by a sharp drop in import prices last year. Brazil, Indonesia and Canada are the main suppliers, accounting for 57% of total imports.

The United States is the world's leading producer of wood pulp. Canada is the world's largest exporter of wood pulp. It accounts for 62% of total global exports. Total global pulp production will reach about 189 million tons in 2020. North America is the largest producer in 2020, with an output of 64.7 million tons. The second largest pulp and paper producer is Europe, with an output of 46.6 million tons. In 2020, the total pulp production in Indonesia will be about 8.59 million cubic meters. Plantations for the pulp and paper industry have become important in Indonesia's forestry industry over the past two decades. Acacia and eucalyptus trees dominate Indonesia's pulpwood plantations.