The urbanization spur and surging literacy rates across developing countries such as India, Brazil, and China may create extensive growth opportunities for the waste paper recycling market.
The waste paper collection methods will prove to be deciding points for the growth of the waste paper recycling market. New collection methods and opening of novel recycling facilities across the world may sow the seeds of growth for the waste paper recycling market.
Transparency Market Research (TMR) covers all the aspects related to the waste paper recycling market in a structured manner and conveys it to market stakeholders through their report. This report covers all the growth parameters of the waste paper recycling market, thus creating awareness among the stakeholders about the growth opportunities and threats surrounding the waste paper recycling market.
How is technology playing a great role in growth of waste paper recycling market?
Technological advancements are leaving no stone unturned for fueling growth prospects of the waste paper recycling market. Numerous waste management and industrial firms are introducing novel technologies for waste paper collection. For instance, a Singapore-based waste management firm, Sembcorp, has launched an app that helps in a convenient collection of recyclables.
The ‘ezi’ mobile app, developed by Sembcorp enables residents to have their recyclables collected from their homes at no cost. Instead, the residents will be paid for the recyclables according to the type of material. The app will enable a hassle-free collection of waste paper, metal, plastic, and clothing. Therefore, such initiatives may gain considerable momentum across the forecast period and help in creating growth opportunities for the waste paper recycling market.
How is government support helping waste paper recycling market to climb the growth ladder?
Rising environmental concerns are pushing the governments of various countries to embrace the green route to recovery. The support of the government by offering grants and funding for varied recycling initiatives may bring great growth opportunities for the waste paper recycling market.
The North Carolina Government recently awarded financial grants to more than 19 recycling projects. Cascades, a recycling company, will receive $60,000 through which it will purchase a detrasher and trammel system to enhance the efficiency of recycling mixed paper. Furthermore, Orange Recycling Services will also receive $10,000 to purchase additional collection containers for expanding the company’s cardboard collection service. The Hong Kong Government is of the view to encourage paper recycling by introducing a government plan and stabilizing waste paper prices.
Any recent innovations that have potential of accelerating growth prospects for waste paper recycling market?
Innovations form the crux of growth for the waste paper recycling market. Various innovations add new feathers of growth to the waste paper recycling market. A UK-based company, Frugalpac has launched a wine bottle made from 94% recycled paperboard as an eco-friendly alternative to glass. The paper wine bottle is known as the ‘Frugal bottle’. It is 5 times lighter than a regular glass wine bottle. The bottle has been creating a buzz in the drinks industry and displays huge potential for the growth of the waste paper recycling market.