The recycled paper market size to reach $42,395.79 million by 2028 from $32,558.44 million in 2021 to grow at a CAGR of 3.8% from 2021 to 2028.
November 25, 2021 05:35 ET | Source: The Insight Partners
New York, Nov. 25, 2021 (GLOBE NEWSWIRE) -- According to our new research study on Recycled Paper Market Size, Share, Revenue, Growth, Trends, 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).
Recycled Paper Market: Competitive Landscape and Key Developments
Cascades Recovery+; Global Waste Recyclers Ltd; Hanna Paper; Heinzel Holding GmbH, Inc.; International Paper; Perlen Papier AG; Republic Services, Inc.; Sonoco Products Company; ST Paper Resources Pte Ltd; American Chung Nam; Waste Management; and WASCO are among the key players in the recycled paper market. The major players are striving to expand their customer base and increase their presence globally to acquire a better market position.
Asia Pacific held the largest share of the recycled paper market in 2020. With rapid economic growth and urbanization, waste generation and management are becoming major social and environmental issues in Asia. Every country in Asia has specific measures of solid waste management and material-cycle policy. The presence of small and large-scale companies operating in paper recycling in India, China, and Japan are further fueling the growth of the recycled paper market in the region.
Favorable Environmental Impact to Propel Market Growth:
One of the most significant properties of paper is its potential to be recycled numerous times, saving the cost involved in producing new paper. The recycling of paper is known to conserve natural resources, thus, reducing greenhouse emissions, saving energy, and keeping the landfill space free for other types of trash. According to the US Environmental Protection Agency (EPA), the paper makes up ~28% of solid trash in landfills, and a ton of paper takes up to 3.3 cubic yards of landfill space. Global warming and habitat destruction are a few of the major effects of deforestation; the recycling of waste paper reduces the need to manufacture virgin paper, thus reducing deforestation. It has been noted that the recycling of a ton of paper can save ~17 trees; 380 gallons of oil; 7,000 gallons of water; and ~4,000 KW of energy—along with bringing down the greenhouse emission by a metric ton of carbon equivalent. The decomposition of papers in the landfills generates methane, which has 21 times higher heat-trapping power than carbon dioxide.
Recycled Paper Market: Segmental Overview
Based on type, the recycled paper market is segmented into pre-consumer waste and post-consumer waste. The pre-consumer waste segment accounted for the largest share of the market in 2020. Post-consumer waste is expected to witness growth in the coming years, owing to increasing awareness among the population regarding waste management and sustainable practices. Based on application, the market is segmented into writing and printing paper, containerboard, newsprint paper, tissue, and others. The containerboard segment accounted for the largest share of the global recycled paper market in 2020, owing to containerboard manufacturers' high volume usage of recycled paper. Moreover, the rise of the e-commerce sector has further propelled the demand for containerboard. The tissue segment is expected to be the fastest-growing segment over the forecast period.
Impact of COVID-19 Pandemic on Recycled Paper Market:
The COVID-19 pandemic had drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the recycled paper market. The implementation of measures to combat the spread of the virus aggravated the situation and impacted the growth of several industrial sectors. The significant decline in the growth of the several industrial sectors notably impacted the demand for recycled paper in the global market. Due to the COVID-19 pandemic, the market for recycled paper has felt a negative impact in terms of supply and demand for raw materials as well as the final product. The outbreak 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 the 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 smartphone, resulting in a fall in newspaper demand.