The waste management industry is growing every single year.
For instance, in 2017 the global waste management market was valued at $330.6 billion. In 2025, it’s expected to reach $530 billion.
This huge growth is both good and bad.
It’s good because waste management is receiving more attention than ever. However, it’s bad because the growth also means the amount of waste we produce is increasing.
The following factors have contributed to this rapid growth, for better or worse.
More Waste
Many industries around the world are seeing huge growth; construction, manufacturing and textile industries are some of them.
With that growth and productivity, comes more waste. And more waste means that there is more focus on it. Therefore, more money is being spent on managing this waste.
Technology
New technology to deal with waste is being developed all the time.
As a result, companies are investing huge amounts of capital into this research. The hope is that this cutting-edge tech will ease the global waste management problem.
More Investment
New waste management companies are springing up all over the world, determined to combat the waste problem.
Many of these organisations are investing in all kinds of equipment. As well as that, bigger conglomerates are investing in smaller companies and startups, hoping to see returns.
Waste to Energy
The waste to energy phenomenon is gathering momentum.
We’re constantly looking for ways to create electricity while simultaneously disposing of waste. The money being invested into this development is huge.
For instance, power plants which incinerate landfill for electrical energy are increasingly common, though their effect on the environment is questionable.
Landfill Mining
Landfill mining presents some exciting opportunities.
It presents potential new energy sources, as well as financial gain from the recovery of valuable metals, plastics and other materials.
Plenty of money is being spent on researching and testing methods for landfill mining. It presents an exciting prospect in the future of waste management.
To discuss your waste management program, get in touch with Sydney City Rubbish here.
