Wood Recycling Market to Experience USD 8.86 billion Growth as per Technavio's Market Analysis

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ALBA Group Plc and Co. KG, California Waste Solutions Inc., and Canadian Wood Waste Recycling Business Group. Among Key Vendors in the wood recycling market

ALBA Group Plc and Co. KG, California Waste Solutions Inc., Canadian Wood Waste Recycling Business Group., Carolina Fibre Corp., Community Wood Recycling, Enva, Evergreen Recycling LLC, Global Waste Recyclers Ltd., Hanna Paper Fibres Ltd., and Mid America Paper Recycling, among others, are some of the key vendors operating in the wood recycling market. The offerings of some of these vendors are mentioned below:

• ALBA Group Plc and Co. KG - The company offers wood recycling services that provide recycling solutions, which include waste management, recovering raw materials, logistics, and facility services, under the brand name of ALBA Group Plc and Co. KG.
• California Waste Solutions Inc. - The company offers wood recycling services such as recycling, material disposing, separation, and collection for public and private sector clients worldwide, under the brand name of California waste solutions Inc.
• Canadian Wood Waste Recycling Business Group. - The company offers wood recycling services that provide extensive recycling services and material disposing, separation, and collection, under the brand name of Canadian Wood Waste Recycling Business Group.

APAC to be the largest market of the wood recycling market

APAC will be the largest market during the forecast period, and it will account for 44% of the market's growth. The key countries in the region are expected to be China, Japan, and India. Moreover, the market growth rate in APAC will be faster than the growth of the market in other regions.

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Paper and cardboard segment will generate highest revenue for the wood recycling market         

The paper and cardboard segment will have significant market share growth during the forecast period. Paper and cardboard materials are readily recyclable and have well-established local markets for processing and manufacturing across the world due to their high recycling value. Thus, the environmental benefits of recycling, such as the reduction in carbon emissions and solid waste, will drive the growth of the segment during the forecast period.

Increasing use of biomass fuels to drive wood recycling market

The increasing use of biomass fuels is supporting the wood recycling market growth. Biomass is derived from wood and wood processing wastes, among several other organic wastes. It is highly beneficial in creating a low-polluting environment and contributing to the targets set by governments in terms of achieving energy efficiency and reducing carbon emissions. Biomass energy production is being encouraged across the world, with the implementation of favorable policies as well as different subsidies and tax incentives. Fossil fuels are depleting gradually. Hence, the rising need for renewable energy sources has compelled governments to encourage biogas production.

Logistical challenges in recycling waste wood to challenge wood recycling market

The handling of large volumes of waste wood leads to several challenges during transportation as a significant volume is available in dust and debris. Air transportation is not feasible to transport waste wood products via air due to their density and low economic value. The primary mode of transportation remains road transport, which is time-consuming and has low transport capacity. As a result, profits remain low. Therefore, logistical issues, as well as storage and transportation complexities associated with waste wood product recycling, impact the growth of the global wood recycling market.

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