Pulp and Paper Market by Manufacturing process (Pulping process, Bleaching process and Total chlorine free), Application (Packaging, Printing and Building & Construction), by Region (North America, Europe, Asia Pacific, South America, Middle East and Africa), Global Trends and Forecast from 2022 to 2029

Published on: Mar 2022
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Market Size	CAGR	Dominating Region
USD 377.58 billion by 2029	1.4%	Asia Pacific

By Manufacturing Process	By Application
Pulping Process Bleaching Process Total Chlorine Free	Packaging Printing Building & Construction

5/5 - (22 votes)

Pulp and Paper Market Overview

The global pulp and paper market size is estimated to be valued at USD 337.84 billion in 2020 and is projected to reach USD 377.58 billion by 2029, recording a CAGR of 1.4%.

The rapid proliferation of internet connectivity and smartphone usage has catalyzed the expansion of online retailing across emerging economies, notably in regions such as China, India, Brazil, Southeast Asia, and others. Particularly among younger demographics, consumers are increasingly turning to online platforms to purchase a wide array of goods, including groceries, food items, cosmetics, and various other products. Projections from the India Brand Equity Foundation indicate that the number of online shoppers is anticipated to reach 220 million by the year 2025.

Concurrently, there is a growing emphasis on sustainability within the retail packaging sector, driven by concerns surrounding the environmental impact of plastic packaging waste. This heightened focus on sustainability is bolstering the demand for paper-based packaging solutions, given their lightweight nature and logistical convenience. Consequently, as online retailing continues to surge, there is an expected uptick in demand for corrugated boxes and paper bags in the forecast period.

Within the pulp and paper market, a notable trend underscores the increasing integration of sustainability practices across the entire production process, supply chain, and product offerings. This entails prioritizing responsibly sourced raw materials through sustainable forestry practices and certifications, alongside endeavors to curtail energy consumption and mitigate greenhouse gas emissions. Furthermore, consumer preferences for eco-friendly products have driven a notable surge in demand for recycled paper and sustainable packaging materials, prompting manufacturers to innovate and introduce environmentally conscious alternatives.

The industry is also actively pursuing initiatives aimed at reducing water usage, minimizing waste generation, and optimizing transportation logistics to diminish overall environmental impact, aligning with broader societal shifts towards sustainability and responsible consumption.

Pulp and Paper Market | Exactitude Consultancy

Pulp and Paper Market Segment Analysis

The pulping process sector accounts for the greatest proportion of the pulp & paper market, and it is expected to increase during the forecast period. Pulping is the primary source of effluent in the manufacturing process. This approach allows for the separation of cellulose fibers and the removal of contaminants. The Kraft/Sulphate process is the most adaptable form of pulp processing. It produces a pulp made up of solid, long cellulose fibers with little lignin. Chemical pumping’s main advantage is that the pulp fibers produced are long and solid. These long cellulose strands can be employed to manufacture more stiffer, stronger paper items. Chemical pulp is used to make high-quality white paper and other paper products.

Due to the rising use of plant-based additives packaging such as pulp & paper in food, drinks, hygiene paper, and cosmetics, the packaging segment held the highest share in the pulp & paper market and is likely to continue growing during the projection period.

Pulp and Paper Market Players

Market players focus on growth strategies, such as new product launches, collaborations, partnerships, operational expansion, mergers & acquisitions, and awareness campaigns. Companies operating the target market can focus on partnerships and collaborations, in order to develop advanced products which in turn create lucrative growth opportunities. Few of the important market players International Paper, Georgia-Pacific Corporation, Nine Dragon Paper Ltd., Stora Enso Oyj, Kimberly-Clark Corporation, UPM-Kymmene Oyj, Svenska Cellulosa Aktiebolaget, Oji Holding Corporation, Nippon Paper Industries Co., Ltd., and Procter & Gamble.

Companies are mainly in the developing and they are competing closely with each other. Innovation is one of the most important and key strategy as it has to be for any market. However, companies in the market have also opted and successfully driven inorganic growth strategies like mergers & acquisition and so on.

Recent Development:

Stora Enso announced the investment of 21 million euros at Anjala-Ingerois and 26 million euros at Nymölla pulp processing sites. With this investment, the company is aiming to increase its competitiveness in the market and softwood pulp production capacity to 245 kilotons per annum.
Suzano announced the investment of USD 2.87 billion to establish a new pulp processing plant in Ribas do Rio Pardo, Brazil. This investment was done to increase the production capacity of the company by approximately 20%. The unit will be the single largest line of eucalyptus pulp production in the world.
In March 2020, at its Darlington, South Carolina, Dixie facility, Georgia-Pacific spent more than $145 million to expand its plate and bowl-making operations. This investment was focused on the demand for well-known household goods from clients and customers.

Who Should Buy? Or Key Stakeholders

Pulp and paper Companies
Research Organizations
Investors
Regulatory Authorities
Others

Key Takeaways:

The global pulp and paper market is expected to be recording a CAGR of 1.4% during the forecast period.
The major share is expected to be occupied by Asia Pacific for global pulp and paper market during the forecast period.
The pulping process sector accounts for the greatest proportion of the pulp & paper market, and it is expected to increase during the forecast period.
The packaging segment held the highest share in the pulp & paper market and is likely to continue growing during the projection period.
One major trend in the pulp and paper market is the increasing adoption of sustainability practices throughout production processes and supply chains, driven by growing consumer demand for eco-friendly products and regulatory pressures.

Pulp and Paper Market Regional Analysis

The Pulp and paper Market by region include North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).

North America: includes US, Canada and Mexico
Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC
Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe
South America: includes Brazil, Argentina and Rest of South America
Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA

The major share is expected to be occupied by Asia Pacific for global pulp and paper market during the forecast period. Asia Pacific is the world’s largest consumer of paper, and it is predicted to continue to do so during the projection period. China is the world’s largest producer and user of pulp and paper. India is expected to grow rapidly in Asia Pacific, owing to rising demand for paper-based products. Southeast Asian countries are expected to expand at a faster rate than the rest of the world throughout the projection period. In Vietnam, Indonesia, and Malaysia, healthier economic growth accompanied by improved lifestyles is predicted to provide significant markets for paper-based products.

Key Market Segments: Pulp and Paper Market

Pulp and Paper Market by Manufacturing Process, 2020-2029, (In USD Million)

Pulping Process
Bleaching Process
Total Chlorine Free

Pulp and Paper Market by Application, 2020-2029, (In USD Million)

Packaging
Printing
Building & Construction

Pulp and Paper Market by Regions, 2020-2029, (In USD Million)

North America
Europe
Asia Pacific
South America
Middle East and Africa

Important Countries in All Regions Are Covered.

Key Question Answered

What is the current market size of this high growth market?
What is the overall growth rate?
What are the key growth areas, applications, end uses and types?
Key reasons for growth
Challenges for growth
Who are the important market players in this market?
What are the key strategies of these players?
What technological developments are happening in this area?

Introduction
1. Market Definition
2. Market Segmentation
3. Research Timelines
4. Assumptions and Limitations
Research Methodology
1. Data Mining
  1. Secondary Research
  2. Primary Research
  3. Subject-Matter Experts’ Advice
2. Quality Checks
  1. Final Review
3. Data Triangulation
  1. Bottom-Up Approach
  2. Top-Down Approach
  3. Research Flow
4. Data Sources
Executive Summary
Market Overview
1. Global Pulp and paper Market Outlook
  1. Market Drivers
  2. Market Restraints
  3. Market Opportunities
2. Impact of Covid-19 On Global Pulp and paper Market
Global Pulp and paper Market by Manufacturing process, (USD Million) (Kilotons)
1. Pulping process
2. Bleaching process
3. Total chlorine free
Global Pulp and paper Market by Application, (USD Million) (Kilotons)
1. Packaging
2. Printing
3. Building & Construction
Global Pulp and paper Market by Region, (USD Million) (Kilotons)
1. Introduction
2. Asia-Pacific
  1. China
  2. India
  3. Japan
  4. South Korea
  5. Australia
  6. South-East Asia
  7. Rest of Asia-Pacific
3. North America
  1. United States
  2. Canada
  3. Mexico
4. Europe
  1. Germany
  2. United Kingdom
  3. France
  4. Italy
  5. Spain
  6. Russia
  7. Rest of Europe
5. South America
  1. Brazil
  2. Argentina
  3. Colombia
  4. Rest of South America
6. Middle East and Africa
  1. UAE
  2. Saudi Arabia
  3. South Africa
  4. Rest of Middle East and Africa

Company Profiles* (Business Overview, Company Snapshot, Types Offered, Recent Developments)
1. International Paper
2. Georgia-Pacific Corporation
3. Nine Dragon Paper Ltd.
4. Stora Enso Oyj
5. Kimberly-Clark Corporation
6. UPM-Kymmene Oyj
7. Svenska Cellulosa Aktiebolaget
8. Oji Holding Corporation
9. Nippon Paper Industries Co., Ltd
10. Procter & Gamble *The Company List Is Indicative

LIST OF TABLES

TABLE 1 GLOBAL PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 2 GLOBAL PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 3 GLOBAL PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 4 GLOBAL PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 5 GLOBAL PULP AND PAPER MARKET BY REGION (USD MILLIONS), 2020-2029

TABLE 6 GLOBAL PULP AND PAPER MARKET BY REGION (KILOTONS), 2020-2029

TABLE 7 NORTH AMERICA PULP AND PAPER MARKET BY COUNTRY (USD MILLIONS), 2020-2029

TABLE 8 NORTH AMERICA PULP AND PAPER MARKET BY COUNTRY (KILOTONS), 2020-2029

TABLE 9 US PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 10 US PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 11 US PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 12 US PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 13 CANADA PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 14 CANADA PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 15 CANADA PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 16 CANADA PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 17 MEXICO PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 18 MEXICO PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 19 MEXICO PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 20 MEXICO PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 21 SOUTH AMERICA PULP AND PAPER MARKET BY COUNTRY (USD MILLIONS), 2020-2029

TABLE 22 SOUTH AMERICA PULP AND PAPER MARKET BY COUNTRY (KILOTONS), 2020-2029

TABLE 23 BRAZIL PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 24 BRAZIL PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 25 BRAZIL PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 26 BRAZIL PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 27 ARGENTINA PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 28 ARGENTINA PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 29 ARGENTINA PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 30 ARGENTINA PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 31 COLOMBIA PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 32 COLOMBIA PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 33 COLOMBIA PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 34 COLOMBIA PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 35 REST OF SOUTH AMERICA PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 36 REST OF SOUTH AMERICA PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 37 REST OF SOUTH AMERICA PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 38 REST OF SOUTH AMERICA PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 39 ASIA-PACIFIC PULP AND PAPER MARKET BY COUNTRY (USD MILLIONS), 2020-2029

TABLE 40 ASIA-PACIFIC PULP AND PAPER MARKET BY COUNTRY (KILOTONS), 2020-2029

TABLE 41 INDIA PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 42 INDIA PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 43 INDIA PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 44 INDIA PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 45 CHINA PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 46 CHINA PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 47 CHINA PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 48 CHINA PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 49 JAPAN PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 50 JAPAN PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 51 JAPAN PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 52 JAPAN PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 53 SOUTH KOREA PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 54 SOUTH KOREA PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 55 SOUTH KOREA PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 56 SOUTH KOREA PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 57 AUSTRALIA PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 58 AUSTRALIA PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 59 AUSTRALIA PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 60 AUSTRALIA PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 61 SOUTH-EAST ASIA PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 62 SOUTH-EAST ASIA PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 63 SOUTH-EAST ASIA PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 64 SOUTH-EAST ASIA PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 65 REST OF ASIA PACIFIC PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 66 REST OF ASIA PACIFIC PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 67 REST OF ASIA PACIFIC PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 68 REST OF ASIA PACIFIC PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 69 EUROPE PULP AND PAPER MARKET BY COUNTRY (USD MILLIONS), 2020-2029

TABLE 70 EUROPE PULP AND PAPER MARKET BY COUNTRY (KILOTONS), 2020-2029

TABLE 71 GERMANY PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 72 GERMANY PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 73 GERMANY PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 74 GERMANY PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 75 UK PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 76 UK PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 77 UK PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 78 UK PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 79 FRANCE PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 80 FRANCE PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 81 FRANCE PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 82 FRANCE PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 83 ITALY PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 84 ITALY PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 85 ITALY PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 86 ITALY PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 87 SPAIN PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 88 SPAIN PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 89 SPAIN PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 90 SPAIN PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 91 RUSSIA PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 92 RUSSIA PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 93 RUSSIA PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 94 RUSSIA PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 95 REST OF EUROPE PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 96 REST OF EUROPE PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 97 REST OF EUROPE PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 98 REST OF EUROPE PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 99 MIDDLE EAST AND AFRICA PULP AND PAPER MARKET BY COUNTRY (USD MILLIONS), 2020-2029

TABLE 100 MIDDLE EAST AND AFRICA PULP AND PAPER MARKET BY COUNTRY (KILOTONS), 2020-2029

TABLE 101 UAE PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 102 UAE PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 103 UAE PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 104 UAE PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 105 SAUDI ARABIA PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 106 SAUDI ARABIA PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 107 SAUDI ARABIA PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 108 SAUDI ARABIA PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 109 SOUTH AFRICA PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 110 SOUTH AFRICA PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 111 SOUTH AFRICA PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 112 SOUTH AFRICA PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

TABLE 113 REST OF MIDDLE EAST AND AFRICA PULP AND PAPER MARKET BY TYPE (USD MILLIONS), 2020-2029

TABLE 114 REST OF MIDDLE EAST AND AFRICA PULP AND PAPER MARKET BY TYPE (KILOTONS), 2020-2029

TABLE 115 REST OF MIDDLE EAST AND AFRICA PULP AND PAPER MARKET BY APPLICATION (USD MILLIONS), 2020-2029

TABLE 116 REST OF MIDDLE EAST AND AFRICA PULP AND PAPER MARKET BY APPLICATION (KILOTONS), 2020-2029

LIST OF FIGURES

FIGURE 1 MARKET DYNAMICS

FIGURE 2 MARKET SEGMENTATION

FIGURE 3 REPORT TIMELINES: YEARS CONSIDERED

FIGURE 4 DATA TRIANGULATION

FIGURE 5 BOTTOM-UP APPROACH

FIGURE 6 TOP-DOWN APPROACH

FIGURE 7 RESEARCH FLOW

FIGURE 8 GLOBAL PULP AND PAPER MARKET BY TYPE, USD MILLION, 2020-2029

FIGURE 9 GLOBAL PULP AND PAPER MARKET BY APPLICATION, USD MILLION, 2020-2029

FIGURE 10 GLOBAL PULP AND PAPER MARKET BY REGION, USD MILLION, 2020-2029

FIGURE 11 PORTER’S FIVE FORCES MODEL

FIGURE 12 GLOBAL PULP AND PAPER MARKET BY TYPE, USD MILLION, 2020-2029

FIGURE 13 GLOBAL PULP AND PAPER MARKET BY APPLICATION, USD MILLION, 2020-2029

FIGURE 14 GLOBAL PULP AND PAPER MARKET BY REGION, USD MILLION, 2020-2029

FIGURE 15 PULP AND PAPER MARKET BY REGION 2020

FIGURE 16 MARKET SHARE ANALYSIS

FIGURE 17 INTERNATIONAL PAPER: COMPANY SNAPSHOT

FIGURE 18 GEORGIA-PACIFIC CORPORATION: COMPANY SNAPSHOT

FIGURE 19 NINE DRAGON PAPER LTD: COMPANY SNAPSHOT

FIGURE 20 STORA ENSO OYJ: COMPANY SNAPSHOT

FIGURE 21 KIMBERLY-CLARK CORPORATION: COMPANY SNAPSHOT

FIGURE 22 UPM-KYMMENE OYJ: COMPANY SNAPSHOT

FIGURE 23 SVENSKA CELLULOSA AKTIEBOLAGET: COMPANY SNAPSHOT

FIGURE 24 OJI HOLDING CORPORATION: COMPANY SNAPSHOT

FIGURE 25 NIPPON PAPER INDUSTRIES CO., LTD: COMPANY SNAPSHOT

FIGURE 26 PROCTER & GAMBLE: COMPANY SNAPSHOT

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