Over 2.5% CAGR Growth Projected : Report: Waste Paper Management Market Set to Hit £43bn by 2020
Despite the relentless move to digital consumption, the global waste paper management market is projected to be valued at around $43.35 billion by 2020, and to grow at a Compound Annual Growth Rate (CAGR) of 2.55% from 2015 to 2020, according to a recently published report.
The report, Waste Paper Management Market, published by Markets and Markets,
found that increasing population, strict regulations imposed by local governments for waste management practices, increasing consumer awareness, and increasing awareness about environmental safety are the main drivers of the waste paper management and recycling market.
According to the authors the waste paper management market is expected to witness significant growth in the future with the increasing popularity of sustainable waste management practices. The market was also projected to experience growing demand in the industrial as well as commercial sectors.
The report noted that developing markets such as China, Brazil, and India are emerging as growth economies for waste paper management market. Growing economies, increasing population, and the resultant disposable income of people were said to be acting as the main drivers for increased opportunities in these countries.
The presence of better waste treatment facilities was found to have been a factor in contributing to the rising demand of waste paper management services in the mature regions of Europe and North America.
The growing interest of consumers regarding environmental safety was also said to be a key driver of waste paper management market.
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