Europe Waste Recycling Services Market Highlights 2022 – 2030
The Europe waste recycling services market is estimated to garner a sizeable revenue and grow at a CAGR of ~6% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing consciousness among industries and consumers regarding the benefits of recycling wastes, and rapid surge in waste generation. According to the European Commission, in 2018, 5.2 tons of waste were generated per European Union inhabitant. Out of this, 38.5% waste were landfilled and 37.9% were recycled. Along with these, the waste recycling companies in Europe are investing heavily in plastic chemical recycling since the last few years. Manufacturers are expected to adopt advanced technologies to convert low quality plastic waste to brand new plastic products, which in turn is predicted to drive market growth in the upcoming years. Furthermore, increasing number of users who are connected to centralized wastewater treatment systems is projected to offer lucrative opportunities to the market growth in the near future.
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The market is segmented by product into plastics, paper & paperboard, metals, food, glass, electronic waste, and others, out of which, the paper & paperboard segment is anticipated to hold the largest share in the Europe waste recycling services market on account of the high consumption of pulp and paper, and growing paper waste recycling in the region. Along with this, the plastics segment is expected to witness the highest segment growth over the forecast period, which can be credited to the large volume of plastic waste in Europe. Another report by the European Commission depicts, from 2008 to 2018, paper and cardboard were the major packaging waste material in the EU amounting to 31.8 million tons of waste in 2018, followed by plastic which accounted for 14.8 million tons of waste in the same year. Additionally, on the basis of end user, the industrial segment is predicted to gather the largest share in the coming years ascribing to the high recycling potential of waste generated from construction, manufacturing, mining and quarrying. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government-imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
Europe Waste Recycling Services Market Regional Synopsis
On the basis of geographical analysis, the Europe waste recycling services market is segmented into U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, and the rest of Europe. The market in Germany is estimated to witness noteworthy growth over the forecast period on the back of stringent government regulations associated with waste disposal and imposition of ban on landfill of waste. Apart from these, presence of well-established recycling facilities is also expected to expand the market in this region. As per the European Environment Agency, 68% of municipal waste was recycled in Germany in 2017. Along with this, more than 70% of packaging waste was also recycled in the country during that year. Additionally, increasing awareness for converting waste-to-energy in the country is also expected to contribute to the market growth. Moreover, the market in the United Kingdom is anticipated to acquire the largest market share during the forecast period owing to the large generation of commercial and industrial waste in the country, coupled with increasing number of government initiatives to reduce waste and develop massive quantities of sustainable products.
Market Segmentation
Our in-depth analysis of the Europe waste recycling services market includes the following segments:
By Product
- Plastics
- Paper & Paperboard
- Metals
- Food
- Glass
- Electronic Waste
- Others
By End User
- Industrial
- Municipal
- Others
Growth Drivers
- Growing Consciousness Regarding the Benefits of Waste Recycling
- Increasing Amount of Waste Generated
Challenges
- Improper Maintenance of Quality Standards during Waste Management
Top Featured Companies Dominating the Market
- Waste Management, Inc.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- REMONDIS SE & Co. KG
- SCHOLZ RECYCLING GMBH
- Norsk Gjenvinning Norge AS
- Sims Lifecycle Services, Inc.
- Hansen Recycling Industry A/S
- EUROKEY RECYCLING GROUP
- Sims Metal Management Limited
- Paprec Group
- Marius Pedersen a.s.
