The global wood pulp market is a large driver of global timber demand. In aggregate, this market accounts for around 200.8 million metric tonnes (“MT”) of supply, representing around 10.5% of global industrial roundwood production. Of that, around 73.1 million MT relate to “market pulp,” reflecting pulp sold into the open market to meet the needs of mills that do not have integrated pulping operations or are unable to satisfy all of their pulp demand internally (Figure 1). The remainder of global wood pulp is integrated with producers’ paper and board manufacturing operations.