Rockville, MD , Jan. 14, 2025 (GLOBE NEWSWIRE) -- According to the newly published report by Fact.MR, a market research and competitive intelligence provider, the global Paper & Pulp Mill Market is anticipated to reach US$ 503.46 billion in 2024 and escalate at a CAGR of 3.5% between 2024 and 2034.
Globally, the paper and pulp business is growing thanks to a wide range of growing uses in several industries. The demand for paper-based products is still rising sharply as potentially high growth countries expand and the world's population rises. Paper and pulp mills are becoming increasingly important in today's world, producing anything from packaging and personal hygiene items to educational resources and environment-friendly building materials.
Traditional paper manufacturing has changed due to technological improvements, which have improved production efficiency and environmental friendliness. The industry's attractiveness has been further enhanced by creative recycling methods and sustainable forestry practices. Potentially high growth countries are making significant investments in the infrastructure of paper mills as they realize the practical and financial advantages of this adaptable sector.
Other reasons driving the paper and pulp mill market's growth include the rise of e-Commerce, the need for more packaging in retail settings, and a greater emphasis on biodegradable alternatives to plastic. Paper and pulp mills lead the way in innovative production as global businesses look for flexible and sustainable solutions.
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Key Takeaways from Market Study:
- The global paper & pulp mill market is forecasted to reach US$ 710.77 billion by 2034-end.
- The North American market is analyzed to expand at a CAGR of 3.6% through 2034.
- Demand for the paper segment is approximated to progress at a CAGR of 3.3% between 2024 and 2034.
- The East Asian market is projected to advance at a CAGR of 4% through 2034.
- The markets in Japan and South Korea in East Asia are forecasted to progress at a CAGR of 3.9% and 4.5% through 2034 respectively.
- Among several major markets, the manufacturers segment is estimated to escalate at a CAGR of 3.7% through 2034.
“Several paper mills use wood waste and byproducts in energy production creating biomass energy and reducing overall waste in the production process,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Paper & Pulp Mill Market:
Key players in the paper & pulp mill market are International Paper, Georgia-Pacific Corporation, Nine Dragon Paper Ltd, Sappi Ltd, UPM-Kymmene Oyj, Nippon Paper Industries, The Smurfit Kappa Group, WestRock, Stora Enso Oyj, Kimberly-Clark Corporation
Sustainable Methods Becoming More Common in Place of Chemical Methods Leading to Boosting Sales:
Traditional chemical methods are replaced by enzymatic treatments, which lower toxic byproducts and hazardous emissions. By allowing accurate resource allocation and waste minimization, artificial intelligence and machine learning are improving manufacturing efficiency. New pulp processing techniques made possible by biotechnology utilize less energy and produce fewer environmental emissions.
Nowadays, several mills are turning manufacturing byproducts and wood waste into renewable energy, establishing circular economy models that turn waste streams into useful resources. By significantly reducing environmental pollution through advanced filtering technologies and green chemistry, the paper industry is establishing itself as a pioneer in environment-friendly production methods.
Paper & Pulp Mill Industry News:
- August 2023: Atlas Holdings ("Atlas") has completed its previously announced purchase of Resolute FP Canada Inc.'s pulp, newspaper, and directory paper mill facilities in Thunder Bay, Ontario.
- In January 2022, Stora Enso committed $40.67 million to expand its fluff pulp production facility in Skutskär, Sweden. The firm wishes to focus on cost-effective methods and reduce its carbon footprint. The pulp is manufactured and used for feminine care, adult incontinence, and newborn care, among other medical applications.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the paper & pulp mill market for 2018 to 2023 and forecast statistics for 2024 to 2034.
The study divulges essential insights into the market based on product & service (paperboard & packaging paper, paper, pulp), and major market (manufacturers, publishers, retailers, wholesalers, others), across seven major regions of the world (North America, Latin America, Eastern Europe, Western Europe, East Asia, South Asia & Pacific, and MEA).
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