Global Waste Paper Recycling market to hit $54.9 billion by 2025
NEW YORK (Scrap Register): Global Waste Paper Recycling Market valued approximately $42 billion in 2016 is anticipated to grow with a healthy growth rate of more than 3.4% over the forecast period 2018-2025.ThemMarket is expected to reach $54.9 billion by 2025, according to the latest study of Waste Paper Recycling Market.
Increasing concern towards environmental protection is the major factor driving the growth of the Global Waste Paper Recycling market. Furthermore, the government regulation has decreased the raw material supply for manufacturing the new paper and have resulted in increase in the prices of new paper.
This has fueled the market growth. Increasing urbanization and the upwelling behavior in the developing countries such as India and China, to get higher literacy rates have increased the demand for products like newsprint, packaging, and writing paper.
The consumers preferences have also changed toward the convenient and sustainable packaging, governments regulations toward low plastic consumption, and the low manufacturing cost are some other factors driving the growth of the market.
Recycling of waste paper is gaining popularity over manufacturing of new paper due to its advantages such as, Recycled paper has become the major source of raw material for most of the paper mills because of the low availability of the other source, recycling of paper help in reducing the environmental degradation, the cost of manufacturing is also low and the provides the manufacturer with the opportunity to gain more profit.
However, the scarcity of waste paper collection channel act as the major restraint to the market. The recycling of paper is the process by which waste paper is turned into new paper products.
The process involves mixing used/old paper with water and chemicals to break it down. It is then chopped up and heated, and is converted into pulp, or slurry. It is then de-inked, bleached, and mixed with water and. Then it can be made into new recycled paper.