Global waste paper recycling market is expected to grow at a CAGR of nearly 4.5% and is anticipated to hit USD 50 Billion by 2026.
NEW YORK, UNITED STATES, June 23, 2020 /EINPresswire.com/ — Findings from Facts and Factors report “Waste Paper Recycling Market By Product (White Office Paper, Magazines, Newspapers, Corrugated Cardboard, and Mixed Paper), By Application (Printing-and-Writing Paper, Wrapping Paper, and Others), And By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global waste paper recycling market in 2019 was surpassed USD 36 Billion. The market is expected to grow at a CAGR of nearly 4.5% and is anticipated to hit USD 50 Billion by 2026.
From the past few years, the global paper recycling market has been experiencing tremendous growth owing to the drastic outcomes of the overconsumption of natural resources on the environment. In the waste paper recycling process, the local vendors & small-scale industries collect the waste & garbage from residential, industrial, as well as commercial zones. The waste paper is then sorted from the entire piles of garbage and the sorted waste paper is then shredded, pulped, filtered, de-linked, and trimmed before consumer use. Waste paper products preferred for recycling include corrugated papers, newspapers, packaging papers, wrapping papers, and magazines, among others. Besides securing the raw materials, the waste paper recycling industry offers a range of benefits, such as limited water, energy, and landfill space consumption.
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Rather than dumping or burning, the waste paper should be recycled as the waste paper has been accumulated in enormous quantities across the globe and the two aforementioned processes are energy as well as resource consuming. The hazardous impact on the environment with the piling up of waste paper for longer time and inefficiency to manage that waste have remained the two leading causes urging the various state governments to implement stringent rules associated with waste management. Consequently, this would flourish the global waste paper recycling market.
The “corrugated cardboard” under product segment holds the maximum revenue share of the global waste paper recycling industry
Corrugated packaging is a widely adopted packaging type across the globe. It is considered as multi-layer packaging, as the cardboard is formed of different layers of line board organized in a special pattern that offers firm and safe packaging of products. Almost all the lifestyle items and consumer products, such as toys, electrical appliances, gift items, food items, and even large & heavy items including machinery as well as furniture, are packaged in corrugated cardboard boxes.
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The Asia Pacific waste paper recycling market to propel at remarkable CAGR during the forecast period
Asia Pacific market is anticipating a remarkable growth during the next few years owing to the rapid urbanization & swift economic growth along with the effective management of generated waste. Like the food, &beverage processing industry in China has been performing quite well owing to which the demand for waste recycled paper is propelled in the region.
Some of the key players driving the global waste paper recycling market are PerlenPapier, Heinzel Group, Tianjin Wuchan, Republic Services, WASCO, Huanjia Group, Global Wastepaper Recyclers, Northern International, Hanna Paper Recycling, China Recycling Development, ST Paper Resources, Veolia Environment, Waste Management, International Paper, Sonoco Recycling, Remondis, Cascades Recovery, and Shandong Century Sunshine, among others.
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This report segments the global waste paper recycling market as follows:
Global Waste Paper Recycling Market: Product Segmentation Analysis
White Office Paper
Global Waste Paper Recycling Market: Segment Segmentation Analysis
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Source: EIN Presswire