Global Solid Waste Management Market- Type, Applications, Region, End use and Segment Forecast to 2025
Solid waste management is the process of collection and proper
disposal of solid waste collected from various industrial and municipal
facilities. Management of solid waste reduces or eliminates adverse impacts on
the environment and human health, and supports economic development and
improves the quality of life. A number of processes are involved in effectively
managing waste for a municipality. These include monitoring, collection,
transport, processing, recycling, and disposal. Solid waste may be categorized
according to its origin into domestic, industrial, commercial, and construction
or institutional. Based on content, solid waste can be divided into organic
material, glass, metal, plastic paper, etc. Increase in global population,
rapid urbanization, industrial boom, environmental impact, and rise in number
of infrastructure development activities across the globe are the key factors
driving the need for solid waste management. Rise in government emphasis to
control solid waste is also expected to drive the solid
waste management market during the forecast period. Solid waste creates
immense impact on the environment, as poor management of the collection and
disposal of solid waste may lead to leachate pollution of surface water or
groundwater. This may cause significant problems if the waste contains toxic
substance or if nearby water sources are used for water supplies. Storage of
large quantities of dry waste in hot climates may lead a fire hazard.
The solid
waste management market is evolving at a rapid pace, particularly in emerging
countries such as India and China, led by the new principles for sustainability
and technological advancements. For instance, the Government of India’s ‘Swachh
Bharat Mission,’ which was launched on October 2, 2014, has brought the
municipal solid waste management sector to the forefront of governance.
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Based on
waste, the solid waste management market can be bifurcated into municipal solid
waste and industrial solid waste. Municipal solid waste refers to the
management of solid waste from residential buildings and societies, public
places, streets, commercial buildings, and other institutions. The onus of
management of these type of waste lies with municipal and government
authorities. Municipal solid waste accounts for a large part of universal waste
and thus proper management of the same is of paramount importance. Various
challenges are associated with municipal solid waste management. These include
unfavorable investment norms and lack of monetary incentives.
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According
to practices, solid waste management focusses largely on waste collection,
treatment (composting and incineration), and disposal (landfills). However,
limited attempts are being made to adopt integrated waste management practices
that involve waste reduction at the source, resource recovery, and recycling.
The resource value of waste cannot be realized unless separation of wastes is
practiced effectively at the source. Integrated Solid Waste Management (ISWM)
is a comprehensive waste prevention, recycling, composting, and disposal
program. An effective ISWM system considers how to prevent, recycle, and manage
solid waste in ways that effectively protect human health and the environment.
A paradigm shift from conventional waste management practices to ISWM is
essential for cities in order to effectively manage the waste stream. This
presents immense growth opportunities to the solid waste management market.
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In terms
of geography, Asia Pacific is the dominant region of the market due to the ever
increasing population, accelerated urbanization, and rapid industrialization in
countries in Asia such as China and India. The solid waste management market in
North America is anticipated to witness strong growth, due to the enforcement
of strict regulations against landfill and waste handling.
Key
players operating in the solid waste management market include Biffa Group,
Green Conversions, Amec Foster Wheeler, Xcel Energy, Recology, Hitachi Zosen,
Covanta, and Keppel Segher.
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