China's paper production grew 3% in 2025 while consumption grew only 1%, leading to an export-dependent market and record-low prices. Global and domestic inventories remain high as new pulp capacity continues to enter the market.
Key Takeaways
- 1.China's virgin-based paper production grew 3% y/y in 2025, but domestic consumption only rose 1%, indicating production was supported by exports.
- 2.Recycled paper board gained significant market share over virgin grade in 2025, likely due to a large price gap early in the year.
- 3.Virgin pulp production continues to climb with 1.3mt added in 2025 and a further 2.8mt projected for 2026-27.
Table of Contents
- Pulp & Paper: China Pulp/Paper Annual Data: Weak Domestic Consumption, Growing Pulp Production
- Global
- China
- Europe
- Latin America
- Disclosure Appendix
- Disclosures
- Regulatory disclosures
Document Preview
Access the Full Report
Get unlimited access to institutional research reports with a 14-day free trial.
Authors
Marcio FaridHenrique MarquesEmerson Vieira
Securities
SU203.SAKLB911.SACOPEC.SND4155.SACMPC.SN
Themes
Oversupply and Inventory GlutStructural Demand ShiftsMarket Pricing at Historical Lows
Regions
Asia PacificLatin AmericaEuropeChinaBrazilChile