- Industry growth expected to slow over next five years
- Students develop way to generate fuel from waste without sorting
- European commission fines Italy over waste management
In 2016, the waste management industry generated total revenues of $76.2 billion globally, according to a report by MarketLine. Between 2012 and 2016, this represented a compound annual growth rate (CAGR) of 0.9%.
The waste management industry is comprised of municipal solid waste including agricultural wastes and sewage sludge, commercial establishments and institutions, non-hazardous industrial process wastes, and non-hazardous waste generated in households.
In 2016, industry consumption volume reached 1.3 billion tons, growing at a CAGR of 1.3% between 2012 and 2016.
Over the five-year period 2016 and 2021, the industry’s performance is forecasted to slow. A CAGR of 0.7% is anticipated.
Generating Fuel from Waste
Where to store waste that is collected is an issue faced by communities worldwide. In Africa, students at the Kwame Nkrumah University of Science and Technology in Ghana have developed a way to generate fuel from waste without having to separate the waste first.
The students call the process pyrolysis. The process burns biomass and plastic between 200-760°C, producing a gas called syngas and occasionally a solid residue called biochar. Syngas can produce electricity while biochar is used to fertilize soil.
The students hope to refine the process so it can become available for commercial use. They believe their invention solves Ghana’s waste management issues, according to How Africa.
Italy Faces Fines
Italy needs to correct its waste management issues, according to a report by the European Commission. The commission also criticized Italy for its smog. The nation faces a $1.07 billion fine for exceeding safe limits for air particles.
Although more waste is being combusted or recycled, landfills are overflowing. Italy has been fined numerous times concerning landfill violations, including most recently $90.9 million, The Local reports.
Making the problem worse, the mafia has profited off of illegal toxic waste dumping, a problem the European Union says would take 15 years to clean.
The European Commission does offer a solution to the problem. “Italy could introduce a national tax on landfills or harmonize its regional taxes to reduce landfill waste,” the report said.
- In 2016, North America held the largest market share in the smart waste management market. Technological advancements and stricter regulations contributed to this market.
- Between 2016 and 2021, North America will continue to have the largest share, but Asia-Pacific will have the largest growth.
- In 2016, the smart waste management market grew $1.08 billion. By 2021, the market is forecasted to reach $2.37 billion, growing at a CAGR of 16.9%. Growth will be fueled by stricter regulations imposed by regulating bodies for environment protection and waste disposal and an increase in the number of smart city initiatives.
- The amount charged per ton for landfill multiplied by the volume of waste generated determines the industry’s value. Volume is determined by the total waste generated.