Outlook: Global Paper Recycling Market
According to BIR Paper Division President Jean-Luc Petithuguenin (Paprec, France), the recovered paper market had a good start in 2021.
Many experts agreed this would be a positive year for raw materials, Jean-Luc Petithuguenin wrote in the “World Mirror”, published in January by the Bureau of International Recycling, the sole global recycling federation. However, the branch needs to adapt “to new international regulations and additional constraints which, in some ways, could provide a competitive advantage”. But the main question is “how the Covid-related healthcare situation will evolve and how it will affect the economy”.
The good outlook for the paper recycling market is confirmed by a market report, which has been added to ResearchAndMarkets offering. As reported in 2020, the “Global Paper Recycling Market” was estimated to be 45.5 billion US-Dollar and is expected to reach 56.2 billion US-Dollar by 2025, growing at a CAGR (compound annual growth rate) of 4.3 percent. According to the information, significant factors are promoting the global paper recycling market‘s growth. Those were attributed to the increased threat towards rapidly depleting resources. “This has led to a conscious awareness of sustainability among the consumers and business enterprises with the increased adoption of eco-friendly products. Besides, recycled paper also offers various cost-benefit advantages as well as a favorable impact on the environment. These factors are further boosting the market growth.” The costs associated with the machinery as well as the inefficient waste collection mechanism and the segregation system could be a deterrent to the market growth.
The Indian market intelligence and advisory firm Mordor has found similar positive trends. According to the information, the recovered paper market is projected to grow at a CAGR of 2.7 percent over the forecast period 2021 to 2026. “As corrugated containers and boxes are extensively used as packaging products for transportation and shipping, there is an excellent demand for recovered paper derived from old corrugated containers that can be recycled and reused for packaging purposes”. The burgeoning demand for corrugated boxes for packaging was encouraging the growth of this market.
www.bir.org, www.researchandmarkets.com, www.mordorintelligence.com
(Published in GLOBAL RECYCLING Magazine 1/2021, Page 32, Photo: O. Kürth)
