Containerboard Segment has the Largest Share of Application in the Asia Pacific Recycled Paper Market during 2021–2028

According to our latest study on “Asia Pacific Recycled Paper Market Forecast to 2028 – COVID-19 Impact and Analysis – by Type, and Application,” the market is projected to reach US$ 21,452.3 million by 2028 from US$ 16,279.2 million in 2021; it is expected to grow at a CAGR of 4.0% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the demand for recycled paper is expected to expand at a high rate throughout the forecast period. Waste generation and management are becoming important social and environmental challenges as a result of fast economic growth and urbanization. Consumers and market players are increasingly using paper-based products and packaging, which is driving up demand for more paper manufacturing, which is increasing trash, and driving up the need for waste recycling.

The COVID-19 pandemic is anticipated to cause a significant economic loss in Asia-Pacific. The consequence and impact could be worse, and they totally depend on the spread of the virus. The Asian economies have been hit hard due to the pandemic. The emergence of new COVID-19 waves in India, Thailand, and other Asian economies has prolonged the effect of the pandemic upon GDP. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of Asia-Pacific. However, the uncertainty regarding the future outbreak, especially in countries such as India and few other Asian countries, has altered the status of several industrial sectors. The governments of various Asia-Pacific economies are taking possible steps to restrict the spread of the virus by announcing country-wide lockdowns, which have a direct impact upon the growth of the industrial sectors. This may impact the demand for recycled paper. However, the market is expected to witness an increase in investment by players to tap the prevailing opportunities as well as cater to expanding demand for recycled paper in post-pandemic times.

Based on application, the Asia Pacific recycled paper market is bifurcated into writing and printing paper, containerboard, newsprint paper, tissue, and others. In 2021, the containerboard segment accounted for the largest share during the forecast period. The rapid development of the e-commerce industry is boosting the growth of the corrugated packaging sector. The containerboard is used to make cardboard packaging for pharmaceuticals, food, chemicals, and other goods. The most profitable industry is predicted to be food & beverage. The food and beverage industry requires corrugated boxes manufactured of containerboards for shipping and storage.

Global Waste Recyclers Ltd, Heinzel Holding GmbH, International Paper, Sonoco Products Company, American Chung Nam, and ST PAPER RESOURCES PTE LTD are among the leading companies in the Asia Pacific recycled paper market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The market for recycled paper market is segmented into type, and application. Based on type, the Asia Pacific recycled paper market is segmented into pre-consumer waste, and post-consumer waste. Based on application, the recycled paper market is segmented into writing and printing paper, containerboard, newsprint paper, tissue, and others. Geographically, the recycled paper market is segmented into Asia Pacific (China, India, Japan, South Korea, Australia, Rest of Asia Pacific).

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