Product ID: SQMIG15Q2003
Global Waste Paper Recycling Market Size, Share, Growth Analysis, By Waste Product(Corrugated cardboard, White office paper), By Application(Wrapping paper and Printing & writing Paper) - Industry Forecast 2024-2031
Report ID:
SQMIG15Q2003 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|
Tables:
63 |
Figures:
75
Global Waste Paper Recycling Market Insights
Global Waste Paper Recycling Market size was valued at USD 42.97 billion in 2022 and is poised to grow from USD 44.82 billion in 2023 to USD 62.77 billion by 2031, at a CAGR of 4.3% during the forecast period (2024-2031).
The demand and consumption of paper products are increasing worldwide because increasing number of colleges, education institutes, and industries across the world. The main raw material used for manufacturing paper is wood and bamboo, that's why the demand for wood and bamboo is increasing. Increasing demand for paper leads to a rise in deforestation. For preventing the rise in deforestation there is a need for waste paper recycling.
Due to the increasing urbanization and the rise in literacy rates in middle-class populations in developing economies, recycling of paper is becoming extremely important in modern life. Paper recycling is becoming more popular due to the increasing concern over depleting environmental resources. The recovered paper provides more than 35% of the paper raw material requirements in countries like India and China. Due to a shortage of waste paper collection and segregation systems, India imports a lot of recovered paper to fulfil its domestic need.
Local players concentrate primarily on establishing proper collection and segregation facilities to promote waste paper collection. Leading recycling companies are creating automated, highly effective recycling systems to lower production costs and minimize labour-intensive tasks by automating the process. Waste papers come from a variety of sources, including thrown-away, paper mill wastes, and papers that are discarded after being used by consumers. Old newspapers, magazines, cardboard boxes, wrapping paper, and packing paper are just a few examples of the waste paper that can be recycled and reused. The advantages of waste paper recycling are saving energy, wood, and water which influence the growth of the waste paper recycling market. Waste paper recycling reduces greenhouse gas emissions, and recycled fibre is a sustainable, cost-saving resource for making new paper products. The use of recycled paper represents a substantial investment in reducing the demand for wood, electricity, and pollutant emissions during the initial pulping process. According to the World Wildlife Federation, recycling one ton of used paper can yield 800 kg of raw recycled fibre, saving 17 trees. Recycled paper also reduces carbon emissions from combustion.
US Waste Paper Recycling Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Waste Paper Recycling Market Report Snapshots
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