Waste Paper Management Market Expected to Reach $96.1 Billion by 2031

According to a new report published by Allied Market Research, titled, "Waste Paper Management Market," The waste paper management market size was valued at $42.2 billion in 2021, and is estimated to reach $96.1 billion by 2031, growing at a CAGR of 8.5% from 2022 to 2031.Paper waste prevention is the practice of reducing or eliminating paper use so that the potential for paper to be used inefficiently or disposed is prevented in the first place.

The waste paper management market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific dominated the market owing to increasing concern over depletion of environmental resources in growing nations of Asia-Pacific. The demand for recycled paper is increasing by about 7-8% annually in the developing countries of Asia-Pacific. Further, rise in urban population is expected to result in growth in waste generation.

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In addition, rise in industries and commercial sectors has also led to rise in amount of waste. Moreover, environmental problems, such as soil, water, and air pollution have increased, owing to unplanned waste dumping over last few years. Environmental awareness has significantly fueled the demand for waste paper management systems in developed countries. Furthermore, government is implementing certain stringent laws in different developing countries considering the need for effective paper waste management. This in turn is expected to drive the waste paper management market growth.

However, during the pandemic various companies manufacturing waste paper management systems such as waste paper compactor and waste paper recycling machined had to stop their manufacturing business in different countries such as U.S., China and India. On the contrary, initialization of manufacturing activities owing to introduction of vaccines for prevention of disease is slowly anticipated to reopen the waste paper management market manufacturing companies.

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During lockdown, owing to coronavirus, the waste production mainly increased from residential areas as compared to industrial and commercial centers, as industries and offices were partially or completely shutdown, so very less industrial and commercial waste was generated. Further, decline in production of new goods led to fall in demand for recyclable material, such as rubber and plastic. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-initiation of waste management companies and waste paper management market at their full-scale capacities.

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The waste paper management market is segmented on the basis of service, type, source, and region. On the basis of service, the market is divided into collection & transportation, recycling, incineration, and disposal. By type, it is classified into containerboard, newsprint, and tissue. By source, it is bifurcated into residential and non-residential. Region-wise, the global waste paper management industry analysis is conducted across North America (U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).

The major players profiled in the global waste paper management market analysis include, Cascades Recovery, DS Smith, Eco Waste Solutions, Georgia-Pacific, Harris Waste Management Group Inc., Hills Group, International Paper, Kenburn Waste Management Limited, Macpresse Europa, Mondi, Premier Waste Management Limited, Reliable Paper Recycling, Sappi, Veolia, WestRock Company, WM Intellectual Property Holdings, L.L.C., and Zero Waste Energy LLC.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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