Core Insights - Dissolving pulp is a raw material with an α-cellulose content exceeding 90%, primarily produced through methods such as sulfite, pre-hydrolysis kraft, and caustic soda processes [2][4] - Global dissolving pulp production is expected to rise to approximately 8 million tons in 2024, marking the highest level in recent years, driven by capacity increases in countries like Indonesia, China, Brazil, Chile, and Portugal [8][10] - China is a significant producer and consumer of dissolving pulp, with production expected to reach about 1.05 million tons in 2024, a year-on-year increase of 400,000 tons [11][13] Industry Overview - The dissolving pulp industry is characterized by a supply chain that includes raw materials (wood and cotton linter), production processes, and various downstream applications such as cellulose ethers and fibers [4][6] - The cellulose fiber sector is the largest application area for dissolving pulp, accounting for 78.5% of global consumption in 2024 [6] Production and Demand Dynamics - After a decline from 2020 to 2022, global dissolving pulp production is rebounding, with a projected increase in 2024 due to enhanced production capacities [8][10] - China's apparent demand for dissolving pulp is forecasted to be 5.129 million tons in 2024, reflecting an 11.1% year-on-year growth [13] Import Trends - China's reliance on imports for dissolving pulp remains high, with an import dependency rate of 79.6% in 2024, up from 70% in previous years [13] - The volume of dissolving pulp imports in China is expected to grow from 2.8379 million tons in 2018 to 4.0803 million tons in 2024, with a compound annual growth rate of 4.6% [14] Future Trends - The dissolving pulp market is anticipated to grow significantly, driven by emerging economies like China and India, which are expanding their consumption of downstream products [15] - There is a strong emphasis on technological innovation and cost-effective production methods to enhance domestic production capabilities and reduce import dependency [15]