Pulp Market Overview
Pulp's use in a variety of industries, including wood and paper processing, packaging, and food and beverage manufacturing, has been essential to market growth. The pulp can be made from a variety of natural sources, including trees, bamboo, and teak. The use of pulp as the initial material in the production of a variety of finished goods or items has played a key role in market development and maturation.
Advances in paper manufacture are expected to boost demand for pulp in the global market. The existence of a unified paper production industry has allowed various new companies to enter the market. Textiles, paper, food and beverages, and automobiles are just a few of the industries that use the pulp. The use of wood pulp in the furniture industry, as well as in the production of soft components for the home market, has boosted the market growth. Chemical research is becoming more important in a variety of sectors, and enhanced research has also resulted in the development of useful pulp. Over the next few years, the global pulp market's revenues index is predicted to improve.
Moreover, Pulp manufactured from straw, wheat, corn, and rice is expected to grow in popularity during the next decade. This factor will immediately boost the global food and beverage industry's expansion in the next years. Cotton pulp is also in high demand across a variety of sectors, which is a key driver of market expansion.
For a few years, pulp manufacturers have been trying to compete with the beneficial features of plastic in commercial and domestic products. However, governments' tough rules against the use of plastic and its applications in other fields have opened doors for pulp market operators in a variety of different industries.
Covid-19 Impact on Pulp Market
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
Pulp Market Segment Overview
Based on End-use Industry, Print Media is one of the largest segments in the global Pulp Market. Print Media contain News Printing, Book / Magazine Printing, Advanced Printing, Tissue. Although digital marketing is a cost-effective promotional technique, print magazines or newspaper ads provide more exposure to brands than online advertising. Brand favourability and buying intent for a product is also increased by printed marketing. In contrast to digital marketing, printed promotions are convenient, re-readable, and tamper-proof, increasing client reliance on the content/product.
Furthermore, the majority of respondents prefer tactile print media. They also believe that written information is more reliable. During the projected period, all of these factors are expected to contribute to the segment expansion as well as the pulp market's development.
Pulp Market, By Pulp Source
· Mechanical Pulping
· Chemical Pulping
· Others
Pulp Market, By End-use Industry
Region-Wise, Asia Pacific is one of the major regions for the global Pulp Market. This is due to the growing demand for wood pulp-based packaging in this region. Furthermore, products such as paper and paperboard hold a significant share in the global pulp market, notably, in Southeast Asian countries, a growing backlash against plastic usage has thrust wood pulp-based packaging into the spotlight. Moreover, the market in North America is expected to rise at a significant rate in the coming years. This is due to the increasing demand for sustainable non-wood fiber in North America. Europe is another important region for the global Pulp Market.
Pulp Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Pulp Market Competitor overview
Some key developments and strategies adopted by manufacturers in Pulp are highlighted below.
· In 2023, Nine Dragon acquired two fully-integrated pulp mills in the U.S., located in Rumford, Maine, and Biron, Wisconsin. Similarly, in October, the Group completed the acquisition of a pulp mill in Old Town, Maine, U.S.
· In 2017, UPM Pulp invested US$ 160 Mn for the expansion of the Kymi pulp mill in Kuusankoski, Finland.
Pulp Market, Key Players
· Westrock Company
· International Paper
· Stora Enso Pulp AB
· Georgia-Pacific Corp.
· Kimberly-Clark Corp.
· Oji Holdings Corporation.
· Nippon Paper Group
· Asia Pulp and Paper Group
· UPM
· Nordic Paper Holding AB
· Mercer International Group
· Metsä Board Corporation
· BillerudKorsnäs AB
· Nine Dragons Paper Limited
· Sappi Group
· Rama Pulp and Papers Limited
· Gulf Paper Manufacturing Company
· Nisseysangyo Co., Ltd.
· Canny Tissue Paper Industry (L.L.C)
· Metropolic Paper Industries Inc.
Pulp's use in a variety of industries, including wood and paper processing, packaging, and food and beverage manufacturing, has been essential to market growth. The pulp can be made from a variety of natural sources, including trees, bamboo, and teak. The use of pulp as the initial material in the production of a variety of finished goods or items has played a key role in market development and maturation.
Advances in paper manufacture are expected to boost demand for pulp in the global market. The existence of a unified paper production industry has allowed various new companies to enter the market. Textiles, paper, food and beverages, and automobiles are just a few of the industries that use the pulp. The use of wood pulp in the furniture industry, as well as in the production of soft components for the home market, has boosted the market growth. Chemical research is becoming more important in a variety of sectors, and enhanced research has also resulted in the development of useful pulp. Over the next few years, the global pulp market's revenues index is predicted to improve.
Moreover, Pulp manufactured from straw, wheat, corn, and rice is expected to grow in popularity during the next decade. This factor will immediately boost the global food and beverage industry's expansion in the next years. Cotton pulp is also in high demand across a variety of sectors, which is a key driver of market expansion.
For a few years, pulp manufacturers have been trying to compete with the beneficial features of plastic in commercial and domestic products. However, governments' tough rules against the use of plastic and its applications in other fields have opened doors for pulp market operators in a variety of different industries.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Pulp Source, Grade, End-use Industry, and Region. |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | Westrock Company, International Paper, Stora Enso Pulp AB, Georgia-Pacific Corp., Kimberly-Clark Corp., Oji Holdings Corporation., Nippon Paper Group, Asia Pulp and Paper Group, UPM, Nordic Paper Holding AB, Mercer International Group, Metsä Board Corporation, BillerudKorsnäs AB, Nine Dragons Paper Limited, Sappi Group, Rama Pulp and Papers Limited, Gulf Paper Manufacturing Company, Nisseysangyo Co., Ltd., Canny Tissue Paper Industry (L.L.C), Metropolic Paper Industries Inc. |
Covid-19 Impact on Pulp Market
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
Pulp Market Segment Overview
Based on End-use Industry, Print Media is one of the largest segments in the global Pulp Market. Print Media contain News Printing, Book / Magazine Printing, Advanced Printing, Tissue. Although digital marketing is a cost-effective promotional technique, print magazines or newspaper ads provide more exposure to brands than online advertising. Brand favourability and buying intent for a product is also increased by printed marketing. In contrast to digital marketing, printed promotions are convenient, re-readable, and tamper-proof, increasing client reliance on the content/product.
Furthermore, the majority of respondents prefer tactile print media. They also believe that written information is more reliable. During the projected period, all of these factors are expected to contribute to the segment expansion as well as the pulp market's development.
Pulp Market, By Pulp Source
- Wood Pulp
- Softwood
- Hardwood
- Non-Wood Pulp
- Straw (Corn, Wheat, Rice, etc.)
- Bast (Flex, Jute, Hemp, Kenaf, etc.)
- Leaves (Sisal, Palm, etc.)
- Seeds (Cotton, Coir, etc.)
- Grass (Bamboo, Reeds)
- Others
- Recycled Pulp / De-Inked Pulp
· Mechanical Pulping
· Chemical Pulping
· Others
Pulp Market, By End-use Industry
- Packaging
- Food & Beverages
- Personal Care & Cosmetics
- Pharmaceuticals
- Automotive
- Others
- Print Media
- News Printing
- Book / Magazine Printing
- Advanced Printing
- Tissue
Region-Wise, Asia Pacific is one of the major regions for the global Pulp Market. This is due to the growing demand for wood pulp-based packaging in this region. Furthermore, products such as paper and paperboard hold a significant share in the global pulp market, notably, in Southeast Asian countries, a growing backlash against plastic usage has thrust wood pulp-based packaging into the spotlight. Moreover, the market in North America is expected to rise at a significant rate in the coming years. This is due to the increasing demand for sustainable non-wood fiber in North America. Europe is another important region for the global Pulp Market.
Pulp Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Pulp Market Competitor overview
Some key developments and strategies adopted by manufacturers in Pulp are highlighted below.
· In 2023, Nine Dragon acquired two fully-integrated pulp mills in the U.S., located in Rumford, Maine, and Biron, Wisconsin. Similarly, in October, the Group completed the acquisition of a pulp mill in Old Town, Maine, U.S.
· In 2017, UPM Pulp invested US$ 160 Mn for the expansion of the Kymi pulp mill in Kuusankoski, Finland.
Pulp Market, Key Players
· Westrock Company
· International Paper
· Stora Enso Pulp AB
· Georgia-Pacific Corp.
· Kimberly-Clark Corp.
· Oji Holdings Corporation.
· Nippon Paper Group
· Asia Pulp and Paper Group
· UPM
· Nordic Paper Holding AB
· Mercer International Group
· Metsä Board Corporation
· BillerudKorsnäs AB
· Nine Dragons Paper Limited
· Sappi Group
· Rama Pulp and Papers Limited
· Gulf Paper Manufacturing Company
· Nisseysangyo Co., Ltd.
· Canny Tissue Paper Industry (L.L.C)
· Metropolic Paper Industries Inc.
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the global Pulp market?
Advances in paper manufacture are expected to boost demand for pulp in the global market
Q2. Which Segments are covered in the global Pulp market report?
Pulp Source, Grade, End-use Industry, and Region. these segments are covered in the global Pulp market report.
Q3. Which segment is projected to hold the largest share in the global Pulp market?
The print Media segment is projected to hold the largest share in the global Pulp market
Q4. Which region holds the largest share in the global Pulp market?
Asia-Pacific held the largest share in the global Pulp market
Q5. Which are the prominent players in the global Pulp market?
Westrock Company, International Paper, Stora Enso Pulp AB, Georgia-Pacific Corp., Kimberly-Clark Corp., Oji Holdings Corporation., Nippon Paper Group, Asia Pulp and Paper Group, UPM, Nordic Paper Holding AB, Mercer International Group, Metsä Board Corporation, BillerudKorsnäs AB, Nine Dragons Paper Limited, Sappi Group, Rama Pulp and Papers Limited, Gulf Paper Manufacturing Company, Nisseysangyo Co., Ltd., Canny Tissue Paper Industry (L.L.C), Metropolic Paper Industries Inc. . are some key players in the global Pulp market.
Pulp Market Study Global Market Analysis, Insights and Forecast, 2020-20275.5. Market Analysis, Insights and Forecast – By Region 6.5. Market Analysis, Insights and Forecast – By Country 7.5. Market Analysis, Insights and Forecast – By Country 8.5. Market Analysis, Insights and Forecast – By Country 9.5. Market Analysis, Insights and Forecast – By Country
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Pulp Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Pulp Source
- 5.2.1. Wood Pulp
- 5.2.1.1. Softwood
- 5.2.1.2. Hardwood
- 5.2.2. Non-Wood Pulp
- 5.2.2.1. Straw (Corn, Wheat, Rice, etc.)
- 5.2.2.2. Bast (Flex, Jute, Hemp, Kenaf, etc.)
- 5.2.2.3. Leaves (Sisal, Palm, etc.)
- 5.2.2.4. Seeds (Cotton, Coir, etc.)
- 5.2.2.5. Grass (Bamboo, Reeds)
- 5.2.2.6. Others
- 5.2.3. Recycled Pulp / De-Inked Pulp
- 5.2.1. Wood Pulp
- 5.3. Market Analysis, Insights and Forecast – By Grade
- 5.3.1. Mechanical Pulping
- 5.3.2. Chemical Pulping
- 5.3.3. Others
- 5.4. Market Analysis, Insights and Forecast – By End-use Industry
- 5.4.1. Packaging
- 5.4.1.1. Food & Beverages
- 5.4.1.2. Personal Care & Cosmetics
- 5.4.1.3. Pharmaceuticals
- 5.4.1.4. Automotive
- 5.4.1.5. Others
- 5.4.2. Print Media
- 5.4.2.1. News Printing
- 5.4.2.2. Book / Magazine Printing
- 5.4.2.3. Advanced Printing
- 5.4.2.4. Tissue
- 5.4.1. Packaging
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East and Africa
6. North America Pulp Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Pulp Source
- 6.2.1. Wood Pulp
- 6.2.1.1. Softwood
- 6.2.1.2. Hardwood
- 6.2.2. Non-Wood Pulp
- 6.2.2.1. Straw (Corn, Wheat, Rice, etc.)
- 6.2.2.2. Bast (Flex, Jute, Hemp, Kenaf, etc.)
- 6.2.2.3. Leaves (Sisal, Palm, etc.)
- 6.2.2.4. Seeds (Cotton, Coir, etc.)
- 6.2.2.5. Grass (Bamboo, Reeds)
- 6.2.2.6. Others
- 6.2.3. Recycled Pulp / De-Inked Pulp
- 6.2.1. Wood Pulp
- 6.3. Market Analysis, Insights and Forecast – By Grade
- 6.3.1. Mechanical Pulping
- 6.3.2. Chemical Pulping
- 6.3.3. Others
- 6.4. Market Analysis, Insights and Forecast – By End-use Industry
- 6.4.1. Packaging
- 6.4.1.1. Food & Beverages
- 6.4.1.2. Personal Care & Cosmetics
- 6.4.1.3. Pharmaceuticals
- 6.4.1.4. Automotive
- 6.4.1.5. Others
- 6.4.2. Print Media
- 6.4.2.1. News Printing
- 6.4.2.2. Book / Magazine Printing
- 6.4.2.3. Advanced Printing
- 6.4.2.4. Tissue
- 6.4.1. Packaging
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Pulp Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Pulp Source
- 7.2.1. Wood Pulp
- 7.2.1.1. Softwood
- 7.2.1.2. Hardwood
- 7.2.2. Non-Wood Pulp
- 7.2.2.1. Straw (Corn, Wheat, Rice, etc.)
- 7.2.2.2. Bast (Flex, Jute, Hemp, Kenaf, etc.)
- 7.2.2.3. Leaves (Sisal, Palm, etc.)
- 7.2.2.4. Seeds (Cotton, Coir, etc.)
- 7.2.2.5. Grass (Bamboo, Reeds)
- 7.2.2.6. Others
- 7.2.3. Recycled Pulp / De-Inked Pulp
- 7.2.1. Wood Pulp
- 7.3. Market Analysis, Insights and Forecast – By Grade
- 7.3.1. Mechanical Pulping
- 7.3.2. Chemical Pulping
- 7.3.3. Others
- 7.4. Market Analysis, Insights and Forecast – By End-use Industry
- 7.4.1. Packaging
- 7.4.1.1. Food & Beverages
- 7.4.1.2. Personal Care & Cosmetics
- 7.4.1.3. Pharmaceuticals
- 7.4.1.4. Automotive
- 7.4.1.5. Others
- 7.4.2. Print Media
- 7.4.2.1. News Printing
- 7.4.2.2. Book / Magazine Printing
- 7.4.2.3. Advanced Printing
- 7.4.2.4. Tissue
- 7.4.1. Packaging
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Pulp Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Pulp Source
- 8.2.1. Wood Pulp
- 8.2.1.1. Softwood
- 8.2.1.2. Hardwood
- 8.2.2. Non-Wood Pulp
- 8.2.2.1. Straw (Corn, Wheat, Rice, etc.)
- 8.2.2.2. Bast (Flex, Jute, Hemp, Kenaf, etc.)
- 8.2.2.3. Leaves (Sisal, Palm, etc.)
- 8.2.2.4. Seeds (Cotton, Coir, etc.)
- 8.2.2.5. Grass (Bamboo, Reeds)
- 8.2.2.6. Others
- 8.2.3. Recycled Pulp / De-Inked Pulp
- 8.2.1. Wood Pulp
- 8.3. Market Analysis, Insights and Forecast – By Grade
- 8.3.1. Mechanical Pulping
- 8.3.2. Chemical Pulping
- 8.3.3. Others
- 8.4. Market Analysis, Insights and Forecast – By End-use Industry
- 8.4.1. Packaging
- 8.4.1.1. Food & Beverages
- 8.4.1.2. Personal Care & Cosmetics
- 8.4.1.3. Pharmaceuticals
- 8.4.1.4. Automotive
- 8.4.1.5. Others
- 8.4.2. Print Media
- 8.4.2.1. News Printing
- 8.4.2.2. Book / Magazine Printing
- 8.4.2.3. Advanced Printing
- 8.4.2.4. Tissue
- 8.4.1. Packaging
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East and Africa Pulp Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Pulp Source
- 9.2.1. Wood Pulp
- 9.2.1.1. Softwood
- 9.2.1.2. Hardwood
- 9.2.2. Non-Wood Pulp
- 9.2.2.1. Straw (Corn, Wheat, Rice, etc.)
- 9.2.2.2. Bast (Flex, Jute, Hemp, Kenaf, etc.)
- 9.2.2.3. Leaves (Sisal, Palm, etc.)
- 9.2.2.4. Seeds (Cotton, Coir, etc.)
- 9.2.2.5. Grass (Bamboo, Reeds)
- 9.2.2.6. Others
- 9.2.3. Recycled Pulp / De-Inked Pulp
- 9.2.1. Wood Pulp
- 9.3. Market Analysis, Insights and Forecast – By Grade
- 9.3.1. Mechanical Pulping
- 9.3.2. Chemical Pulping
- 9.3.3. Others
- 9.4. Market Analysis, Insights and Forecast – By End-use Industry
- 9.4.1. Packaging
- 9.4.1.1. Food & Beverages
- 9.4.1.2. Personal Care & Cosmetics
- 9.4.1.3. Pharmaceuticals
- 9.4.1.4. Automotive
- 9.4.1.5. Others
- 9.4.2. Print Media
- 9.4.2.1. News Printing
- 9.4.2.2. Book / Magazine Printing
- 9.4.2.3. Advanced Printing
- 9.4.2.4. Tissue
- 9.4.1. Packaging
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Westrock Company
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. International Paper
- 10.6. Stora Enso Pulp AB
- 10.7. Georgia-Pacific Corp.
- 10.8. Kimberly-Clark Corp.
- 10.9. Oji Holdings Corporation.
- 10.10. Nippon Paper Group
- 10.11. Asia Pulp and Paper Group
- 10.12. UPM
- 10.13. Nordic Paper Holding AB
- 10.14. Mercer International Group
- 10.15. Metsä Board Corporation
- 10.16. BillerudKorsnäs AB
- 10.17. Nine Dragons Paper Limited
- 10.18. Sappi Group
- 10.19. Rama Pulp and Papers Limited
- 10.20. Gulf Paper Manufacturing Company
- 10.21. Nisseysangyo Co., Ltd.
- 10.22. Canny Tissue Paper Industry (L.L.C)
Research Process
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
