Report : North America Recycled Paper Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Pre-Consumer Waste, and Post-Consumer Waste), Application (Writing and Printing Paper, Containerboard, Newsprint Paper, Tissue, and Others)
Containerboard Segment has the Largest Share of Application in the North America Recycled Paper Market during 2021–2028
According to our latest study on “North America Recycled Paper Market Forecast to 2028 – COVID-19 Impact and Analysis – by Type, and Application,” the market is projected to reach US$ 6,367.8 million by 2028 from US$ 4,974.9 million in 2021; it is expected to grow at a CAGR of 3.6% 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.
North America is one of the worst affected economies due to the COVID-19 pandemic. The US has the highest number of confirmed cases of COVID-19, compared to Canada and Mexico. The unprecedented rise in number of COVID-19 cases across the US and Canada and the subsequent lockdown of numerous manufacturing facilities in the countries have negatively influenced the growth of various markets. The significant disruption in manufacturing, along with raw material sourcing, has had a negative impact on the demand for recycled paper market in the region. The market for recycled paper has been impacted in the region due to distortion in supply of raw materials with limited operational efficiencies. However, the market is reviving on account of the measures taken by the government such as vaccination drives. With the state of economic recovery, several industrial sectors are strategically planning to invest in advanced products to maximize revenue. This is expected to provide impetus for the market growth.
Based on application, the North America 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.
Cascades Recovery+, Global Waste Recyclers Ltd, Hanna Paper, Heinzel Holding GmbH, International Paper, Republic Services, Inc., Sonoco Products Company, American Chung Nam, Waste Management are among the leading companies in the North America 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 North America 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 North America (US, Canada, Mexico).
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