Stringent Governmental Regulations in Favor of Waste Management is Driving the Growth of Recycled Paper Market
NEW YORK, UNITED STATES, November 9, 2022 /
EINPresswire.com/ -- According to The Insight Partners study on “
Recycled Paper Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Pre-Consumer Waste and Post-Consumer Waste) and Application (Writing and Printing Paper, Containerboard, Newsprint Paper, Tissue, and Others),” The global recycled paper market is expected to grow from US$ 32,558.44 million in 2021 to US$ 42,395.79 million by 2028; it is estimated to grow at a CAGR of 3.8% from 2021 to 2028.
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Paper recycling is the process by which waste paper is turned into new paper products. The process involves the collection, sorting, shredding & pulping, filtering, contaminant removal & de-inking, and finishing for reuse of waste paper. Waste papers are obtained from discarded paper materials, paper mill paper scraps, and waste paper material discarded after consumer use. Waste paper, such as old newspapers, magazines, corrugated, wrapping, and packaging papers, among others, are recycled for reuse. The waste papers to be recycled are collected from the waste locations then sent to paper recycling facilities for further processing. Recycled paper offers various advantages, such as saving energy, water, and landfill space. It helps reduce greenhouse gas emissions, and recycled fiber is a sustainable, cost-saving resource for making new paper products.
Recycled Paper Market: Competitive Landscape and Key Developments
The key players operating in the recycled paper market include Cascades Recovery+; Global Waste Recyclers Ltd; Hanna Paper; Heinzel Holding GmbH; Republic Services, Inc.; International Paper; Perlen Papier; Sonoco Products Company; ST PAPER RESOURCES PTE LTD; and WASCO. The key companies adopt strategies such as mergers and acquisitions and research and development to expand their customer base and gain significant share in the global market, allowing them to maintain their brand name globally.
Impact of the COVID-19 Pandemic on Recycled Paper Market
The ongoing pandemic had drastically altered the status of the chemical and materials sector and negatively impacted the growth of the recycled paper market. The implementation of measures to combat the spread of the virus had aggravated the situation and had impacted the growth of several industrial sectors. Industries such as automotive, packaging, etc. had been impacted by the sudden distortion in operational efficiencies and disruptions in the valued chains attributable to the sudden closure of national and international boundaries. The significant decline in the growth of the several industrial sectors significantly impacted the demanded for recycled paper in the global market. Due to the covid-19 pandemic, the market got changed for recycled paper and had negatively impacted supply and demanded. The outbreak had distorted operational efficiency and disrupted the valued chains due to the sudden shutdown of national and international borders, creating revenue loss and damage. The disturbed valued chain had had a negative impact on raw material supply. For example, the newspaper market dropped drastically as a result of virus-related concerns regarding doorstep delivery. The elimination of commercial advertising (as a result of disrupted circulation and the lockdown-induced economic depression) put even more strain on the industry's finances. The expanding population of internet users had shifted a generation of news consumers from the broadsheet to the smart phone, resulting in a fell in newspaper demanded. The decline in newspaper demanded had a knock-on effect on the recycled paper industry's business.
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Recycled Paper Market: Product Type
Based on type insight, the recycled paper market is segmented into pre-consumer waste and post-consumer waste. The pre-consumer waste segment accounted for a larger market share in 2020. The reclamation of waste materials created during the manufacturing or distribution of products before their delivery is augmenting the growth of the pre-consumer waste segment. Based on application insight, the recycled paper market is segmented into writing and printing paper, containerboard, newsprint paper, tissue, and others. The containerboard segment is anticipated to grow due to the highest production, with more than 100 million tons produced each year. The growth of the writing and printing paper segment is attributed to wide application across offices, homes, schools, and government agencies.
The recycled paper market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. Asia Pacific countries such as Australia, China, India, and Japan have many manufacturing industries, including steel, mining and metallurgy, petrochemicals, oil & gas, food & beverages, and textile. China is the largest consumer of recycled paper, owing to huge demand from its food processing industry. The recycled paper market in APAC is propelling due to the presence of small and large-scale companies operating in paper recycling in India, China, and Japan. Many Asian countries/regions have already introduced laws on municipal solid waste (MSW). In China, Japan, the Republic of Korea, and Taiwan, legislation on municipal waste recycling was promoted relatively early. Thus, Asia Pacific countries are expected to drive the recycled paper market over the forecast period.
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