LONDON–(BUSINESS WIRE)–The global wastepaper management market size is poised to reach USD 6.23 billion by 2023, according to a new report by Technavio, progressing at a CAGR of close to 4% during the forecast period.
“The growing concerns over global warming, extreme weather changes, and rising population levels are pushing organizations to implement go green initiatives. Go green processes rely on eco-friendly practices that are highly efficient and lead to a reduction in operating costs. Such initiatives will increase the demand for recycled paper, thereby fueling the wastepaper management market growth,” says a senior analyst at Technavio. Request Free Sample Pages
The market is driven by the environmental benefits of recycling wastepaper. In addition, the growing urbanization and literacy rate are anticipated to further boost the wastepaper management market during the forecast period.
Paper is used in large volumes by government offices, corporate organizations, and educational institutions, among others. As a result, a large volume paper is manufactured every year, while recycling paper accounts for a minor share in the volume of paper consumed. However, manufacturers are increasingly emphasizing on the recycling of paper over the years owing to environmental benefits. Other than reducing GHG emissions, the recycling of paper offer benefits such as the reduction in landfill space, saving water, and preserving natural resources. The environmental benefits of recycling wastepaper will drive the growth of the wastepaper management market during the forecast period.
The growth in world population, improvements in the standard of living, and the availability of improved facilities and infrastructure in urban areas are contributing to the increasing urbanization globally. The rise in urban population stimulates the need for public infrastructures, such as schools and colleges. These educational facilities consume a significant amount of paper and ensure the availability of a large volume of paper supply for recycling purposes. This will have a positive impact on the growth of the wastewater management market during the forecast period.
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The report includes detailed profiles of the leading companies & prominent vendors of the market:
- DS Smith Plc
- Global Waste Recyclers Ltd.
- Republic Services Inc.
- Shanying International Holdings Co. Ltd
- UPM-Kymmene Corp.
- Waste Management Inc.
Market Segmentation by Service:
The wastepaper management market can be broadly categorized into the following product segments:
Key Regions for the Wastepaper Management Market:
Featuring a breakdown of region-wise market shares until 2019.
- North America
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
Market segmentation analysis
- Market definition
Market size and forecast
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
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