Worldwide Paper Recycling Sector Worth to Surpass $55 Billion

SEATTLE (Scrap Monster): The latest report published by Global Reports Store foresees notable growth ahead for the worldwide paper recycling sector. The sector is likely to report growth rate of nearly 3.5% from 2019 to 2025. The paper recycling industry will be worth approximately US $55 billion by 2025. It must be noted that the industry was worth only $42 billion in 2016.

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The growth will be mainly driven by rising concerns towards environmental protection and the initiatives by various governments to reduce consumption of plastics by promoting alternative materials. The lower manufacturing cost is also seen as catalyst for paper industry growth. The ongoing urbanization and efforts to boost literacy rates in developing countries such as India and China will lead to increased demand for newsprint, packaging and writing paper.

The scarcity of adequate infrastructure to collect waste paper is likely to act as a major restraint to the industry.

Although North America will continue to remain as the major region in terms of industry share, the Asia Pacific region is likely to report higher CAGR growth over the forecast period.