The global paper recycling chemicals market, which had a market size of USD 47.2 billion in 2021, is projected to witness substantial growth with a CAGR of 4.1 percent during the forecast period. The expansion of the market is attributed to the increasing demand for paper products, driven by urbanization, expanding middle-class populations, rising literacy rates in developing countries like India, China, and Brazil, and a shift towards sustainable and practical packaging options.
Key Drivers:
- Rising Demand for Paper Products: The growing urbanization and expansion of the middle class, particularly in developing countries, is driving the demand for various paper products such as newspapers, packaging materials, and writing paper.
- Shift to Sustainable Packaging: With increasing consumer preferences for sustainable options and practical packaging, the demand for plastic packaging is expected to decline, thereby boosting the demand for paper and paperboard products.
Impact of COVID-19:
The COVID-19 pandemic significantly affected the chemical and materials industry, including the paper recycling chemicals market. Measures implemented to curb the spread of the virus disrupted various industrial sectors, including automotive and packaging. The disruptions in operational efficiencies and supply chain interruptions had a negative impact on the growth of these sectors. While the paper recycling market faced challenges, it is expected to recover gradually over the next few quarters as the global situation improves.
Paper Recycling Chemicals Market: Drivers
- Government Regulations and Initiatives: Governments of various nations are encouraging waste paper recycling, leading to increased demand for recycled paper. Organizations and associations focused on recycled paper are also driving market growth.
- Positive Environmental Impact: Paper recycling significantly reduces the need for virgin paper production, preserving natural resources, reducing greenhouse gas emissions, conserving energy, and saving landfill space. These positive environmental effects are driving the demand for recycled paper.
Paper Recycling Chemicals Market: Restraints
- Expensive Equipment and Additional Costs: The high cost of equipment, ineffective waste-paper collection systems, and the competition from foreign competitors pose challenges to the paper recycling sector. The costs associated with establishing and running recycling facilities can be significant.
Segment Overview:
- Containerboard Dominance: The containerboard segment is expected to dominate the market due to its extensive production, particularly for packaging applications. The printing and writing paper and newsprint segments are also anticipated to grow due to their widespread usage.
- Pre-consumer Waste: Pre-consumer waste, which refers to waste generated during production or distribution, is expected to have significant growth potential. This segment includes trimmings and scraps discarded during the cutting process.
Regional Landscape:
- Asia Pacific Leading: The Asia Pacific region is anticipated to dominate the market growth during the forecast period. The manufacturing sectors in countries like Australia, China, India, and Japan contribute to the demand for recycled paper due to the generation of waste in various industries.
Global Paper Recycling Chemicals Market: Competitive Landscape
Companies in the paper recycling chemicals market are increasingly collaborating to drive sustainable practices. Tetra Paks collaboration with Firefly Airlines to recycle beverage cartons highlights the industrys efforts towards sustainable solutions.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/paper-recycling-chemicals-market
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COMTEX_438893145/2840/2023-08-23T04:45:01
