In 2024, the US paper mills industry's gross output is forecasted to be $42.09 billion, a slight decline from the actual value in 2023. The trend reveals a consistent decrease in output, with projections showing it declining to $40.8 billion by 2028. From 2024 onwards, the industry witnesses a year-on-year negative growth rate, reflecting challenges in demand or industry dynamics. The compound annual growth rate (CAGR) over 2024-2028 indicates an average annual decline.
Future trends to watch for include:
- Shifts in consumer behavior towards digital alternatives.
- Increased emphasis on sustainability and recycling within the industry.
- Technological advancements that might affect production efficiency.
