Jun 4, 2020 8:13 PM ET
iCrowd Newswire – Jun 4, 2020
Stringent governmental regulations in favor of waste management is projected to escalate the waste paper recycling market at a CAGR of 4.7%
Latest market study on “Global Waste Paper Recycling Market to 2027 – Analysis and Forecasts Type (Corrugated Cardboard, Newspapers, Magazines, White Office Paper, and Mixed Paper); Application (Wrapping Paper, Printing and Writing Paper, and Others)”. The global waste paper recycling market is accounted to US$ 37,529.60 Mn in 2018 and is expected to grow at a CAGR of 4.7% during the forecast period 2019 – 2027, to account to US$ 56,140.38 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
Waste paper recycling is the process by which waste paper is turned into new paper products. The waste paper recycling process involves the collection, sorting, shredding and pulping, filtering, conterminal removal and de-inking, and finishing for reuse of waste paper.
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Strategy and business planning strategy is commonly adopted by companies to expand their footprint worldwide, which is further impacting the size of the waste paper recycling market. The players present in the waste paper recycling market adopt the strategy of expansion and investment in research and development to enlarge customer base and to gain significant market share across the world, which also permits the players to maintain their brand name globally.
Global Waste Paper Recycling Market – By Type
- Corrugated Cardboard
- White Office Paper
- Mixed Paper
Global Waste Paper Recycling Market – By Application
- Wrapping Paper
- Printing and Writing Paper
Under the application segment, the printing and writing paper segment accounted for the largest share in the global waste paper recycling market. Printing and writing papers are used in the manufacture of catalogs, books, notebooks, newspapers, magazines, commercial printing, business forms, stationeries, copying, and digital printing. Demand for these papers in multiple applications is propelling the growth of recycled printing and writing paper market. For instance, retailers connect with their customers using sales and marketing tools, such as printed catalogs for displaying new product launch, discounts, and offer prices. Such developments in marketing strategies are driving the demand for printing and writing papers to create catalogs.
The increasing awareness regarding the environmental impact of the accumulation of waste and failure to manage it have been among the major reasons driving various governments worldwide to enforce regulations associated waste management. The paper recycling industry has been expanding across many countries, such as the US, Canada, India, China, Japan, and Germany. The government of various nations are implementing regulations to encourage the recycling of waste paper. Numerous associations such as The American Forest & Paper Association (AF&PA), Independent Waste Paper Processors Association (IWPPA), The Confederation of Paper Industries (CPI), and European Recovered Paper Association (ERPA) encourage the practice of waste paper recycling. Such associations are supporting the growth of the waste paper recycling market. The waste paper recycling is not only limited to the paper used in industrial applications, but it also includes household waste paper such as newspapers, magazines, and packaging papers. The generation of paper waste from these sources is very high, and this waste needs to be recycled rather than dumping it over or burning it. With the implementation of government regulations and formation of new associations related to waste paper recycling, the market for the waste paper recycling is estimated to expand rapidly in the coming years.
The market for global waste paper recycling is concentrated with some very well-established players. Some of the key players in the global waste paper recycling market include Cascades Recovery+, Global Waste Recyclers Ltd, Hanna Paper, Heinzel Holding GmbH, International Paper, Perlen Papier AG, Republic Services, Inc., Sonoco Products Company, ST Paper Resources Pte Ltd, and WASCO among others.
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