OBPAI Geek Team•2026/8/12•0 阅读
Global Pulp & Paper of 2026
FY2025 revenue: Smurfit Westrock $31.2B leads; International Paper $23.6B; Suzano pulp sales 12.7 Mt.
pulppaperSuzano2026
Main table: FY2025 pulp & paper revenue
Compiled 2026-08-12. Ranked by latest full-year net sales; FX at ~1.08 / 150 / 7.2 / 5.5 for EUR / JPY / CNY / BRL. Chemicals: global chemicals.
| # | Company | ~$B | Reported | YoY | FY end |
|---|---|---|---|---|---|
| 1 | Smurfit Westrock | 31.2 | $31.18B | +48% | 2025-12-31 |
| 2 | International Paper | 23.6 | $23.63B | — | 2025-12-31 |
| 3 | Oji Holdings | 12.4 | ¥1.8617T | +0.7% | 2026-03-31 |
| 4 | UPM-Kymmene | 10.4 | €9.66B | — | 2025-12-31 |
| 5 | Stora Enso | 10.1 | €9.33B | +3% | 2025-12-31 |
| 6 | Suzano | ~9.1 | R$50.1B | — | calendar 2025 |
| 7 | Nine Dragons Paper | 8.8 | RMB 63.24B | +6.3% | 2025-06-30 |
| 8 | Mondi | 8.3 | €7.66B | +3% | 2025-12-31 |
| 9 | Sappi | 5.4 | $5.42B | −0.7% | 2025-09-30 |
| 10 | Asia Pulp & Paper (APP) | — | Private; ~19 Mt capacity class | — | capacity peer only |
Pulp / volume snapshot
| Company | 2025 volume | Note |
|---|---|---|
| Suzano | Pulp sales 12.7 Mt (+15%) | Market hardwood pulp leader |
| Nine Dragons | Sales 21.5 Mt (+9.6%) | ~90% packaging paper |
| UPM Fibres | 5.8 Mt pulp capacity | Uruguay + Finland mills |
How we ranked
FY2025 group revenue; APP is private and listed for capacity context only. Market-pulp volumes are in the supplement. Board defaults to S–D.
| Source | When | Used for |
|---|---|---|
| Smurfit Westrock FY2025 | 2026 | $31.18B net sales |
| International Paper 2025 | 2026-03 | $23.63B |
| Stora Enso FY2025 | 2026-02 | €9.326B |
| Nine Dragons FY2025 | 2025-09 | RMB 63.24B |
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