Over centuries, paper has been one of the “unsung” drivers of the world development. Paper remains an essential ingredient of homes, factories, offices and schools, even with the advent of the modern world of electronic communication and paperless offices. In fact, far from ushering in the paperless office, the advent of computers and other equipment has fueled the paper demand.  It is estimated that personal computers alone account for 115 billion sheets of paper every year world-wide.  Although the paper industry is cyclical, the long term trend is ever upwards as the demand continues to grow.  Unlike consumption trends in other mature commodity sectors, paper consumption shows little sign of decoupling from the economic growth.  In the developing world, paper consumption is growing quite rapidly – by more than 7% annually, but average per capita consumption remains low at about 15 Kgs per year, i.e., well below the 30 to 40 Kgs of paper per capita per year considered the minimum level to meet basic needs for communication and literacy.  Paper consumption is projected to grow rapidly and the biggest increase – over 80%- is expected to occur in developing countries in Asia, where demand is being driven by rapid growth of both incomes and population.