The demand for waste recycling services has surged in recent years primarily due to the massive accumulation of various kinds of waste across the globe. Converting waste materials into reusable resources has gained much prominence thanks to several technological advancements in the field of waste recycling.
The global market for waste recycling services has been witnessing steady growth over the years and, according to the findings of a report by Transparency Market Research, this market is fast emerging as one of the most rapidly expanding industries.
Q. Which are the key factors contributing toward the growth of the global waste recycling services market?
A. Waste recycling services are employed in an increasing number of industries, including metallurgical, power, construction, forestry and agricultural, chemical, and textile. A significant drop in the prices of metal has resulted in the surging demand for iron and steel recycling services. The growing adoption as well as disposal of various personal electronic devices such as smartphones has generated massive amounts of e-waste, thereby fueling the demand for waste recycling services. The rising number of recycling facilities, government initiatives, and growing awareness about recycling and reuse have also contributed toward the growth of the global waste recycling services market.
Q. How has the introduction of new technologies benefited waste recycling services?
A. Most modern recycling plants – or materials recovery facilities, as they are often called – are equipped with new technologies, which are also being integrated with an increasing number of mixed waste processing facilities. This has enabled an increase in the diversion of materials from landfills and also helped maximize the recovery of marketable materials. The American Chemistry Council has found that the evolving technologies for recovering as well as recycling post-use resources have been creating opportunities for innovations and new strategies for players within the waste recycling services market.
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Q. What are some of the recent developments that have impacted the waste recycling services market?
A. In June 2015, Green Group’s GreenTech announced its plan to conduct a €2.3 mn project to improve the collection of recyclable waste from companies, retailers, hotels, restaurants, and residential as well as office buildings in 23 cities across Romania. The government of Norway is co-financing this project with €1 mn. Green Group is probably the largest group of waste recycling services in Eastern Europe and the project will not only collect around 15,200 tons of recyclable waste per year but also create at least 70 jobs at various waste collection points.
Last month, Enevo, a Finnish provider of intelligent wireless sensors for the optimization of waste collection, announced the second phase of the Paper and Cardboard Waste Fractions project, which deals with the use of dynamic route planning, waste management data analytics, and predictive waste management systems to build the circular economy of the Dutch city of Rotterdam. Partnering with Total Waste Systems (TWS), a Dutch waste and recycling company, and the municipality of Rotterdam, Enevo is working toward developing effective ways to minimize the cost of waste handling and also enable the incentivization of reuse and recycling.
Some of the leading companies competing in the global market for waste recycling services are Eurokey Recycling Ltd., Epson Inc., Triple M Metal LP, Northstar Recycling, Amdahl Corporation, Battery Council International (USA), Zanker Road Landfill, Rubicon Global, Fetzer Vineyards, Collins & Aikman, Hewlett-Packard, Interface Inc., and Xerox Corp.
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