The paper recycling market is anticipated to be worth USD 7.5 billion in 2024. For 2023, the value was tipped to be USD 7.1 billion. The market is expected to grow at a moderate rate over the period from 2024 to 2034, with a CAGR of 5.7%. By the end of the forecast period, the market value is predicted to have jumped to USD 13.1 billion.
Paper Recycling Market Analysis
Attributes | Details |
---|---|
Paper Recycling Market Value for 2024 | USD 7.5 billion |
Projected Market Value for 2034 | USD 13.1 billion |
Value-based CAGR of Market for 2024 to 2034 | 5.7% |
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The paper recycling market was tipped to be USD 6.3 billion in value in 2019. The market likely progressed at a consistent CAGR of 3.1% over the historical period from 2019 to 2023.
Significant industrial shutdowns in various industries that use recycled paper packaging limited the market's growth. As the pandemic resulted in restrictions, the packaging industry was negatively impacted, which, in turn, slowed down the growth of the paper recycling market. However, as the effects of the pandemic receded, the market experienced a recovery in growth. By the end of the historical period, the value of the paper recycling market had grown to USD 7.1 billion.
Market Value (2019) | USD 6.3 billion |
---|---|
Historical CAGR (2019 to 2023) | 3.1% |
Historical Market Valuation (2023) | USD 7.1 billion |
Long-term Analysis of the Paper Recycling Market
The paper recycling market is estimated to have a size of USD 7.5 billion in 2024. The progress of the market is pegged to be normal over the period from 2024 to 2034, with a CAGR of 5.7%.
Sustainability measures, both implemented by the government and self-imposed, are leading industrialists to embrace materials like recycled paper. As a result, the application of recycled paper in a variety of industries, including cosmetics and chemicals, is increasing. With the effects of the pandemic subsiding, the market is expected to progress faster in the forecast period than in the historical period.
The use of recycled paper in packaging is bolstered by the material's flexibility to manufacturers. Recycled paper in the form of molded pulp fiber provides toughness to manufacturers while still being easy to handle. By 2034, it is anticipated that the value of the market is likely to have jumped to USD 13.1 billion.
An analysis of the paper recycling market is attempted with respect to two categories: material and recycling process. Manufacturers are closely screening the material used in packaging, and high-quality paper is being pursued. There are two major types of recycling processes, but one is preferred over the other.
Molded fiber pulp is the predominant material used in paper recycling. For 2024, molded fiber pulp is expected to account for 53.1% of the market share by material.
Molded fiber pulp is winning over end-users due to the flexibility it provides. The material is easy to handle but still provides safety to the content inside the packaging, notably limiting the damage caused by food when it hits the inside of the packaging. Thus, molded fiber pulp is the material preferred by end users.
Attributes | Details |
---|---|
Top Material | Molded Fiber Pulp |
CAGR (2024 to 2034) | 53.1% |
Open loop recycling triumphs closed loop recycling. For 2024, open loop recycling process is expected to account for 72.4% of the market share.
Open loop recycling allows multiple further uses of the paper being recycled. Thus, manufacturers are able to diversify the use of recycled paper, especially with the increase in the application of the product in industries and commercial spaces.
Attributes | Details |
---|---|
Top Recycling Process | Open Loop |
CAGR (2024 to 2034) | 72.4% |
The Asia Pacific is expected to be a lucrative region for the market. The region's increased packaging needs are being supported by recycled paper. In addition, countries like China and India in the Asia Pacific are also importing paper for recycling purposes.
Europe is another significant region for the market. Stringent regulations for industries are seeing manufacturers turn to non-traditional packaging solutions, and recycled paper is one of them.
Countries | CAGR |
---|---|
United Kingdom | 5.1% |
India | 6.7% |
China | 7.2% |
South Korea | 6.1% |
Thailand | 5.8% |
China is set to be one of the promising countries in the market. For the 2024 to 2034 period, the CAGR for China is estimated to be an encouraging 7.2%.
China has imposed strict restrictions on the import of waste material, including paper. However, the pulp and paper industry in the country, reputed to be the biggest in the world, ensures that recycled paper continues to grow strong. Thus, there is an emphasis on domestic supply in China.
India is home to several paper mills that import significant amounts of waste paper. The United States and Canada are two prominent countries that supply waste paper to India. The domestic supply of paper, augmented by imports, is leading to more production of recycled paper in the country. For the forecast period, the CAGR for India is pegged to a healthy 6.7%.
The recycling paper market is being bolstered by the inclination toward the technology of Koreans. For example, EAPS is a Korean company that has come up with an AI-based robot. It is a recyclable robot that helps sort waste material, making the recycling process more efficient. For the forecast period, the CAGR for South Korea is estimated to be a promising 6.1%.
The government in Thailand has taken positive steps to expand the scope of paper recycling in the country. For example, in February 2022, the Thai government's industry ministry, in collaboration with SCG Packaging, launched an initiative to take in a significant amount of paper and turn it into beds, desks, tables, and more. Thus, government programs are keeping the demand for paper recycling flowing in Thailand. For the forecast period, the CAGR for Thailand is estimated to be a normal 5.8%.
In the United Kingdom, people have ease of access when it comes to disposing of paper for recycling. Recycling bins are common in the streets of the country, adding ease to the paper recycling process. Thus, despite the fall in the rate of recycling in the country, the market still has prospects in the United Kingdom. The market is expected to register a modest CAGR of 5.1% in the United Kingdom over the forecast period.
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Leveraging technology and government aid to refine the recycling process is a common objective among market players. Market players are also eager to discover new avenues of paper procurement to boost production.
Paper recycling is a process that can be easily achieved at home. Thus, the market is highly fragmented, with start-ups and small-scale players abundant.
Recent Developments in the Paper Recycling Market
The paper recycling market size is expected to be worth USD 7.5 billion in 2024.
The paper recycling market is estimated to get as big as USD 13.1 billion by 2034.
The CAGR for the paper recycling market in India during the forecast period is estimated to be 6.7%.
The infusion of technology, such as robotics and using recycled paper in publishing, is an industry trend.
The paper recycling market is expected to develop at a CAGR of 5.7% throughout 2034.
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