Pulp and Paper Industry's Adoption of Digital Technologies Will Be Worth US$3.6 Billion at the End of the Decade
NEW YORK, Jan. 20, 2022 /PRNewswire/ -- Pulp and paper producers face twin challenges. First, the gigantic machines converting wood pulp into paper-based products are a single point of failure. Second, the industry is embracing sustainability by the difficult task of incorporating recycled paper into production while retaining the required quality levels. These challenges are fueling investment in process control software and data analytics to avoid unplanned downtime. Global technology intelligence firm, ABI Research finds that this adoption will grow by a 7% CAGR between 2021 and 2030 and result in a US$3.6 billion spend at the end of the decade.
- Second, the industry is embracing sustainability by the difficult task of incorporating recycled paper into production while retaining the required quality levels.
- Global technology intelligence firm, ABI Research finds that this adoption will grow by a 7% CAGR between 2021 and 2030 and result in a US$3.6 billion spend at the end of the decade.
- "Paper usage is changing with demand for newsprint and printed paper on the decline while sales of tissues and paper-based medical products are rising rapidly.
- Overall ABI Research forecasts that pulp and paper mills will be spending US$3.6 billion on digital technologies in 2030.