European industrial waste market valued at $75bn
The industrial waste management market in Europe is worth $75bn with demand for recycling and recovery services driving growth, according to a report released today (September 22).
According to the Frost & Sullivan study, most european countries are working towards limiting landfill disposal, and are favouring energy from waste and material recovery through recycling, due to legislative targets.
Regional economic growth, industrial production levels, and local waste processing laws are significant factors influencing the market. One emerging market is the recovery of trace metals, which came to prominence when metal and other commodity prices sky rocketed during the economic downturn.
The high level of regional diversity has created opportunities for local companies with specialised knowledge of their respective regions. However large multinational companies have also succeeded through strategies like establishing local subsidiaries or partnerships to achieve geographic scale-ups and comprehensive service offerings.
Overall, key growth markets such as the UK and countries in Southern Europe are primarily motivated by the need to conform to EU Directives. Growth momentum is being sustained by large markets, such as Germany and France, which maintain active demand for industrial waste services.
Germany has achieved a better position in adhering to the EU waste hierarchy policy and is renowned for being advanced in waste management technology. This, coupled with its rebound from the economic downturn in industrial production and export activity, promises a healthy market for industrial waste management.
Commenting on the findings, Frost & Sullivan analyst, Bhooma Madhavan, said: “The industrial waste management market is intrinsically linked to industrial production, and is driven by the EU waste hierarchy policy.
“This is catalysing the development of alternative methods of waste treatment, including recycling and reuse. A rebound in industrial activity, as well as a shift towards value-addition from waste processing, will promote further growth in this well-developed market”.