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Global and China Dissolving Pulp Industry Report, 2013-2016

Dissolving pulp refers to the pulp with cellulose content above 90%, mainly including wood pulp, bamboo pulp and cotton pulp (dissolving pulp in this report just involve wood and bamboo pulps), and finding application mainly in viscose fiber downstream.

In 2013, global dissolving pulp capacity approximated 6.3 million tons which were mainly produced in such countries where forest resources are abundant as North America, South Africa and Brazil. As the dissolving pulp industry is fairly profitable during 2009-2011 when a great number of dissolving pulp projects were built in China, the dissolving pulp capacity of China rose to about one million tons till 2013, holding the second place in the world.

Although with a rather large dissolving pulp capacity, China is in short of forest resources and Chinese dissolving pulp manufacturers has a higher production cost than international counterparts. In 2012-2013, China's viscose fiber industry remained in the doldrums, hence a lower demand for dissolving pulp. This, coupled with the impact of the global low-priced dissolving pulp on the domestic market, led to a universally low operating rate for dissolving pulp devices, thus resulting in the overall loss-making of the industry. In 2013, the output of dissolving pulp in China was only around 360kt, with a mere 36% operating rate but export dependency ratio as much as 83.4%.

In April 2014, Ministry of Commerce People's Republic of China announced final determination in anti-dumping investigation: starting from April 6, 2014, China would levy tariffs of 17%, 13% and 6.8% on the pulp produced in the United States, Canada, and Brazil, respectively. The implementation period would span 5 years since April 6, 2014. This is good for the sales of dissolving pulp in China and would hinder the impact of the imported dissolving pulp. Although the factors including destocking in distribution and weak demand from downstream market led to the fluctuation of the prices of dissolving pulp in the bottom, the dissolving pulp industry in China is expected to witness a turning point in 2014.

The world's dissolving pulp industry features quite high concentration and key industrial players consist of Sappi, Aditya Birla, Lenzing, Sateri, Rayonier, etc. In 2013, the total dissolving pulp capacity of the aforesaid five producers accounted for roughly 54.5% of global total. In the forthcoming years, the world's dissolving pulp capacity will continue to grow and the key increments will involve the successively expanded capacity of 300kt from Lenzing, the capacity of 190kt switched for production by Rayonier, the newly built capacity of 175kt from Thailand's Double A, and otherwise.

Chinese dissolving pulp manufacturers are mainly medium and large paper-making enterprises and chemical fiber enterprises; wherein, the paper-making enterprises is chiefly composed of Yueyang Forest & Paper, Sun Paper and Zhenlai Xinsheng Paper (putting into production in 2013), mainly producing wood dissolving pulp and with their capacities hitting 300 kt/a, 200 kt/a and 100 kt/a respectively; and chemical fiber enterprises include Jilin Chemical Fiber Group and Yibin Grace Group Company, producing bamboo dissolving pulp in the main, of which the 95 kt/a bamboo pulp project of Jilin Chemical Fiber Group is still under construction and expected to put into production in 2014.

As a large consumer of viscose fiber around the globe, China's output of viscose fiber is anticipated to keep a growth rate of 10% or so in the upcoming years, which beyond doubt stimulate a rise in the demand for dissolving pulp. After anti-dumping tariff is levied by China on the imported dissolving pulp in 2014, the output of home-made dissolving pulp in China is expected to grow steadily, and it will get to around one million tons in 2016.

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Global and China Dissolving Pulp Industry Report, 2013-2016 released by ResearchInChina resolves around the following:

  • Market size, competitive landscape, price analysis, etc of global dissolving pulp industry;
  • Market size, competition pattern, import & export, price analysis, development forecast, etc of China dissolving pulp industry;
  • Market size, competition pattern, import & export, price analysis, development forecast, etc of China viscose fiber industry;
  • Operation, dissolving pulp business analysis, prediction and prospects, etc of 13 global and Chinese dissolving pulp manufacturers.

Table of Contents

1. Overview of Dissolving Pulp Industry

  • 1.1 Definition & Classification
  • 1.2 Industrial Chain

2. Global Dissolving Pulp Industry

  • 2.1 Status Quo
  • 2.2 Price Analysis

3. China Dissolving Pulp Industry

  • 3.1 Status Quo
  • 3.2 Anti-dumping Investigation
  • 3.3 Supply
  • 3.4 Demand
  • 3.5 Import & Export
  • 3.6 Competition Pattern
  • 3.7 Price Analysis

4. Downstream Viscose Fiber Market

  • 4.1 Capacity
  • 4.2 Output
  • 4.3 Import & Export
  • 4.4 Price Analysis

5. Major Dissolving Pulp Companies Worldwide

  • 5.1 Sateri
    • 5.1.1 Profile
    • 5.1.2 Operation
    • 5.1.3 Revenue Structure
    • 5.1.4 Gross Margin
    • 5.1.5 Dissolving Pulp Business
    • 5.1.6 Business in China
  • 5.2 Sappi
    • 5.2.1 Profile
    • 5.2.2 Operation
    • 5.2.3 Revenue Structure
    • 5.2.4 Dissolving Pulp Business
    • 5.2.5 Business in China
  • 5.3 Rayonier
    • 5.3.1 Profile
    • 5.3.2 Operation
    • 5.3.3 Revenue Structure
    • 5.3.4 Dissolving Pulp Business
  • 5.4 Aditya Birla Group
    • 5.4.1 Profile
    • 5.4.2 Operation of Grasim
    • 5.4.3 Dissolving Pulp Business of Grasim
    • 5.4.4 Business in China
  • 5.5 Lenzing Group
    • 5.5.1 Profile
    • 5.5.2 Operation
    • 5.5.3 Operation of Fiber Business Division
    • 5.5.4 Dissolving Pulp Business
    • 5.5.5 Business in China

6. Main Dissolving Pulp Producers in China

  • 6.1 Sun Paper
    • 6.1.1 Profile
    • 6.1.2 Operation
    • 6.1.3 Revenue Structure
    • 6.1.4 Gross Margin
    • 6.1.5 Clients & Suppliers
    • 6.1.6 Dissolving Pulp Business
    • 6.1.7 Prediction & Outlook
  • 6.2 Jilin Chemical Fiber Group
    • 6.2.1 Profile
    • 6.2.2 Operation
    • 6.2.3 Revenue Structure
    • 6.2.4 Gross Margin
    • 6.2.5 Clients & Suppliers
    • 6.2.6 Dissolving Pulp Business
    • 6.2.7 Prediction & Outlook
  • 6.3 Fujian Nanping Paper
    • 6.3.1 Profile
    • 6.3.2 Operation
    • 6.3.3 Revenue Structure
    • 6.3.4 Gross Margin
    • 6.3.5 Clients
    • 6.3.6 Dissolving Pulp Business
    • 6.3.7 Prediction & Outlook
  • 6.4 Yanbian Shixian Bailu Papermaking
    • 6.4.1 Profile
    • 6.4.2 Operation
    • 6.4.3 Revenue Structure
    • 6.4.4 Gross Margin
    • 6.4.5 Clients
    • 6.4.6 Dissolving Pulp Business
    • 6.4.7 Prediction & Outlook
  • 6.5 Fujian Qingshan Paper Industry
    • 6.5.1 Profile
    • 6.5.2 Operation
    • 6.5.3 Revenue Structure
    • 6.5.4 Gross Margin
    • 6.5.5 Dissolving Pulp Business
    • 6.5.6 Prediction & Outlook
  • 6.6 Yueyang Forest & Paper
    • 6.6.1 Profile
    • 6.6.2 Operation
    • 6.6.3 Revenue Structure
    • 6.6.4 Gross Margin
    • 6.6.5 Clients
    • 6.6.6 Dissolving Pulp Business
    • 6.6.7 Prediction & Outlook
  • 6.7 Shandong Chenming Paper Holdings
    • 6.7.1 Profile
    • 6.7.2 Operation
    • 6.7.3 Dissolving Pulp Business
  • 6.8 Yibin Grace Group Company
    • 6.8.1 Profile
    • 6.8.2 Operation
    • 6.8.3 Dissolving Pulp Business

7 Conclusion & Prediction

  • 7.1 Conclusion
  • 7.2 Prediction
    • 7.2.1 Supply & Demand Prediction
    • 7.2.2 Downstream Prediction

Selected Charts

  • Mainstream Industrial Chain of Dissolving Wood Pulp
  • Other Downstream Products and Applications of Dissolving Pulp
  • Dissolving Pulp Capacity Distribution Worldwide by Region, 2013
  • World's Top Six Dissolving Pulp Manufacturers, Their Capacities and Markets, 2013
  • Major Dissolving Pulp Projects Planned or Under Construction Worldwide, 2014-2016
  • Average Annual Price of Dissolving Pulp Worldwide, 2007-2013
  • Price Tendency of Dissolving Pulp Worldwide, 2011-2014
  • Capacity and Output of Dissolving Pulp in China, 2010-2013
  • Capacities of Dissolving Pulp Manufacturers in China, 2013
  • Apparent Consumption of Dissolving Pulp in China, 2010-2013
  • Import & Export of Dissolving Pulp in China, 2009-2013
  • Average Import & Export Price of Dissolving Pulp in China, 2009-2013
  • Import Source Structure of Dissolving Pulp in China by Import Volume, 2013
  • Average Import Price of Dissolving Pulp in China by Country, 2013
  • Export Destination Distribution of Dissolving Pulp in China by Export Volume, 2013
  • Major Dissolving Pulp Import Provinces and Their Import Volume in China (%), 2013
  • Major Dissolving Pulp Export Provinces and Their Export Volume in China (%), 2013
  • Dissolving Pulp Manufacturers in China and Their Capacities (%), 2013
  • Dissolving Pulp Market Price in China, 2012-2014
  • Major Viscose Fiber Manufacturers in China and Their Capacities, 2013
  • Major Viscose Staple Fiber Manufacturers in China and Their Capacities (%), 2013
  • Major Viscose Filament Yarn Manufacturers in China and Their Capacities (%), 2013
  • Output and YoY Growth Rate of Viscose Fiber in China, 2006-2013
  • Percentage of Viscose Fiber Output in China by Product, 2011-2013
  • Import and Export Volume of Viscose Staple Fiber in China, 2008-2013
  • Average Import and Export Price of Viscose Staple Fiber in China, 2008-2013
  • Export Destinations of Viscose Staple Fiber in China by Export Volume, 2013
  • Import Sources of Viscose Staple Fiber in China by Import Volume, 2013
  • Major Viscose Staple Fiber Export Cities and Their Export Volume in China (%), 2013
  • Major Viscose Staple Fiber Import Cities and Their Import Volume in China (%), 2013
  • Market Price of Viscose Staple Fiber and Viscose Filament Yarn in China, 2008-2014
  • Sateri's Product Chain and Product Application
  • Revenue and Net Income of Sateri, 2009-2013
  • Revenue of Sateri by Product, 2011-2013
  • Revenue Structure of Sateri by Product, 2011-2013
  • Revenue of Sateri by Region, 2011-2013
  • Revenue Structure of Sateri by Region, 2011-2013
  • Gross Margin of Primary Products of Sateri, 2011-2013
  • Dissolving Wood Pulp Categories and Applications of Sateri
  • Dissolving Wood Pulp Output and Sales Volume of Sateri, 2011-2013
  • Viscose Pulp Sales Volume and Shares in Dissolving Wood Pulp Sales Volume, 2011-2013
  • Special Pulp Sales Volume and Shares in Dissolving Wood Pulp Sales Volume, 2011-2013
  • Average Selling Price of Sateri's Dissolving Wood Pulp Product, 2011-2013
  • Three Major Production Bases of Sappi and Capacities of Its major Products, 2013
  • Sales and EBITDA of Sappi, 2009-2013
  • Sales of Sappi by Branch, 2011-2013
  • Sales Structure of Sappi by Branch, 2011-2013
  • Sales Structure of Sappi by Product, 2013
  • Sales of Sappi by Region, 2011-2013
  • Sales Structure of Sappi by Region, 2011-2013
  • Major Products of Sappi Southern Africa and Their Capacities, 2013
  • Sales of Sappi's Dissolving Pulp Business and YoY Growth Rate, 2009-2013
  • Producing Regions of Rayonier's Major Products and Capacities, 2013
  • Sales and Net Income of Rayonier, 2009-2013
  • Sales of Rayonier by Segment, 2011-2013
  • Sales Structure of Rayonier by Segment, 2011-2013
  • Sales of Rayonier by Region, 2010-2012
  • Sales Structure of Rayonier by Region, 2010-2012
  • Sales Volume of Major Products of Rayonier's High-Performance Fiber Business Division, 2009-2013
  • Sales of Rayonier's High-Performance Fiber Business Division by Product, 2011-2013
  • Sales Structure of Rayonier's High-Performance Fiber Business Division by Product , 2011-2013
  • Average Selling Price of Rayonier's Dissolving Pulp Products, 2009-2013
  • Net Revenue and Net Income of Grasim, FY2009-FY2013
  • Net Revenue Structure of Grasim by Product, FY2011-FY2013
  • Production Plants of Grasim and Their Capacities, 2013
  • Net Revenue and Growth Rate from Viscose Staple Fiber & Dissolving Pulp Business of Grasim, FY2009-FY2013
  • Sales and EBITDA of Lenzing Group, 2009-2013
  • Sales Structure of Lenzing Group by Segment, 2011-2013
  • Sales Structure of Lenzing Group by Region, 2011-2013
  • Sales and EBITDA from Fiber Business Division of Lenzing Group, 2009-2013
  • Sales from Fibre Business Division of Lenzing Group by Product, 2011-2013
  • Sales Structure from Fibre Business Division of Lenzing Group by Product, 2011-2013
  • Viscose Subsidiaries under Lenzing Group and Their Capacities, 2013
  • Revenue and Net Income of Lenzing Group (Nanjing), 2009-2013
  • Revenue and Net Income of Sun Paper, 2009-2013
  • Revenue of Sun Paper by Product, 2011-2013
  • Revenue Structure of Sun Paper by Product, 2011-2013
  • Revenue of Sun Paper by Region, 2011-2013
  • Revenue Structure of Sun Paper by Region, 2011-2013
  • Gross Margin of Sun Paper's Hit Products, 2011-2013
  • Sun Paper's Revenue from Top Five Clients and % of Total Revenue, 2011-2013
  • Name List and Revenue Contribution of Sun Paper's Top Five Clients, 2013
  • Sun Paper's Procurement from Top Five Suppliers and % of Total Procurement, 2012-2013
  • Name List and Procurement of Sun Paper's Top Five Suppliers, 2013
  • Revenue and Net Income of Sun Paper, 2012-2016E
  • Capacities of Jilin Chemical Fiber Group's Hit Products, 2013
  • Revenue and Net Income of Jilin Chemical Fiber Group, 2009-2013
  • Revenue of Jilin Chemical Fiber Group by Product, 2011-2013
  • Revenue Structure of Jilin Chemical Fiber Group by Product, 2011-2013
  • Revenue of Jilin Chemical Fiber Group by Region, 2011-2013
  • Revenue Structure of Jilin Chemical Fiber Group by Region, 2011-2013
  • Gross Margin of Jilin Chemical Fiber Group's Major Products, 2011-2013
  • Jilin Chemical Fiber Group's Revenue from Top Five Clients and % of Total Revenue, 2011-2013
  • Name List and Revenue Contribution of Jilin Chemical Fiber Group's Top Five Clients, 2013
  • Jilin Chemical Fiber Group's Procurement from Top Five Suppliers and % of Total Procurement, 2011-2013
  • Name List and Procurement of Jilin Chemical Fiber Group's Top Five Suppliers, 2013
  • Subsidiaries Engaging in Bamboo Pulp Business under Jilin Chemical Fiber Group, 2013
  • Revenue and Net Income of Jilin Chemical Fiber Group, 2012-2016E
  • Revenue and Net Income of Fujian Nanping Paper, 2009-2013
  • Revenue of Fujian Nanping Paper by Product, 2011-2013
  • Revenue Structure of Fujian Nanping Paper by Product, 2011-2013
  • Revenue of Fujian Nanping Paper by Region, 2011-2013
  • Revenue Structure of Fujian Nanping Paper by Region, 2011-2013
  • Gross Margin of Fujian Nanping Paper's Main Products, 2011-2013
  • Fujian Nanping Paper's Revenue from Top Five Clients and % of Total Revenue, 2011-2013
  • Name List and Revenue Contribution of Fujian Nanping Paper' Top Five Clients, 2013
  • Dissolving Pulp Products and Features of Fujian Nanping Paper
  • Revenue and Net Income of Fujian Nanping Paper, 2012-2016E
  • Revenue and Net Income of Yanbian Shixian Bailu Papermaking, 2009-2013
  • Revenue of Yanbian Shixian Bailu Papermaking by Product, 2011-2013
  • Revenue Structure of Yanbian Shixian Bailu Papermaking by Product, 2011-2013
  • Revenue of Yanbian Shixian Bailu Papermaking by Region, 2011-2013
  • Revenue Structure of Yanbian Shixian Bailu Papermaking by Region, 2011-2013
  • Gross Margin of Yanbian Shixian Bailu Papermaking's Main Products, 2011-2013
  • Yanbian Shixian Bailu Papermaking's Revenue from Top Five Clients and % of Total Revenue, 2011-2013
  • Name List and Revenue Contribution of Yanbian Shixian Bailu Papermaking, 2013
  • Revenue and Net Income of Yanbian Shixian Bailu Papermaking, 2012-2016E
  • Revenue and Net Income of Fujian Qingshan Paper Industry, 2009-2013
  • Revenue of Fujian Qingshan Paper Industry by Product, 2011-2013
  • Revenue Structure of Fujian Qingshan Paper Industry by Product, 2011-2013
  • Revenue of Fujian Qingshan Paper Industry by Region, 2011-2013
  • Revenue Structure of Fujian Qingshan Paper Industry by Region, 2011-2013
  • Gross Margin of Fujian Qingshan Paper Industry's Main Products, 2011-2013
  • Revenue and Net Income of Fujian Qingshan Paper Industry, 2012-2016E
  • Revenue and Net Income of Yueyang Forest & Paper, 2009-2013
  • Revenue of Yueyang Forest & Paper by Product, 2011-2013
  • Revenue Structure of Yueyang Forest & Paper by Product, 2011-2013
  • Revenue of Yueyang Forest & Paper by Region, 2011-2013
  • Revenue Structure of Yueyang Forest & Paper by Region, 2011-2013
  • Gross Margin of Yueyang Forest & Paper's Main Products, 2011-2013
  • Yueyang Forest & Paper's Revenue from Top Five Clients and % of Total Revenue, 2011-2013
  • Name List and Revenue Contribution of Yueyang Forest & Paper's Top Five Clients, 2013
  • Revenue and Net Income of Hunan Juntai Pulp & Paper, 2011-2013
  • Revenue and Net Income of Yueyang Forest & Paper, 2012-2016E
  • Revenue and Net Income of Shandong Chenming Paper Holdings, 2009-2013
  • Capacities of Yibin Grace Group Company's Main Products, 2013
  • Operating Revenue and Total Profit of Yibin Grace Group Company, 2007-2009
  • Operation Comparison among Major Dissolving Pulp Manufacturers in China and Worldwide, 2013
  • Supply and Demand of China Dissolving Pulp Industry, 2012-2016E
  • Supply and Demand of China Viscose Fiber Industry, 2012-2016E

Related Companies

  • Shandong Chenming Paper Holdings Limited(000488.SZ)
  • Shan Dong Sun Paper Industry Joint Stock Co., Ltd.(002078.SZ)
  • Jilin Chemical Fibre Co.,Ltd.(000420.SZ)
  • Fujian Qingshan Paper Industry Co.,Ltd.(600103.SH)
  • Nanzhi Co., Ltd., Fujian(600163.SH)
  • Yanbian Shixian Bailu Papermaking Co.,Ltd.(600462.SH)
  • YUEYANG FOREST&PAPER CO.,LTD.(600963.SH)
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