Waste Management Market Trends

Growth Drivers

• Technology advancements and shorter product life cycles have increased the amount of electronic waste produced - New electronic devices and improved versions of current products, such as laptops, mobile phones, and televisions, are produced as a result of the rapid improvements in technology. In a similar vein, the shelf life of technological devices decreases as individual purchasing power rises.
  Consequently, an increasing amount of e-waste is produced as the lifespan of electronic items gets shorter. The need for e-waste management is fueled by the need to recycle electronic items, which is in turn brought on by the accumulation of electronic garbage. This rising e-waste production raise need for waste management, thereby offering growth opportunities for waste management market.
   
• Growing number of construction projects coupled with an increase in the use of construction and demolition (C&D) materials in metropolitan regions - In order to reduce the need to mine and process virgin materials, the Environmental Protection Agency (EPA) supports the Sustainable Materials Management (SMM) method, which recognizes specific C&D materials as commodities that can be used in new construction projects. The majority of construction and demolition waste produced in the US is approved for disposal in landfills subject to Code of Federal Regulations (CFR) regulations.
  
  In some areas, the whole or a portion of the waste stream from building and demolition is illegally dumped on land or in natural drainage systems, including waterways, in violation of laws meant to safeguard the environment, human health, and commerce. In light of these elements, the waste management market will expand in the upcoming years.
   
• Implications of poor waste management for the environment and society - Waste management is sometimes seen as waste pickers' main source of revenue because they pick up trash from door to door, sort it by hand, and then sell the recyclables to scrap dealers. Unattractive streets are the result of a shortage of trash cans on municipal streets, careless attitudes against littering, and lax enforcement of the legislation against it.
  
  Dangerous contaminants in the air, rivers, and streams around low-income communities near landfills can have an immediate impact on them. The average European produces five tons of waste a year; of that, only 38 percent is recycled, and in certain EU nations, more than 60 percent of domestic waste ends up in landfills.

Challenges

• It costs more to recycle plastic than to make new plastic - For the production of virgin plastics, petrochemicals like natural gas and oil are essential raw resources. Polyethylene terephthalate is the recycled version of plastic (PET). The creation of a pure stream of recovered material is the issue with plastic recycling. PET plastics can be recycled into other goods like new containers and fleece garments, but they have little residual value. While producing plastic items, a number of additives are added, including colorants and fillers. The additions made to plastic, which have an impact on the recycling of plastic products, are typically unknown to recycling organizations. These factors may hinder market during the projected period.
   
• Lack of the essential structure for garbage collection and separation may impede waste management market growth.
   
• It is estimated that the high expense of operating and acquiring waste management solutions will hinder market expansion.