(MENAFN- America News Hour) Europe Waste Recycling Services Market: Overview
Waste management is a universal issue affecting every single individual in the world. Poorly managed waste is contaminating the world's oceans, clogging drains, and causing floods. Furthermore, improper waste disposal leads to transmission of diseases via breeding of vectors. Burning of waste also causes respiratory issues. Thus, proper disposal and management of waste is necessary to overcome the issues stated above.
Waste management consists of activities such as collection, segregation, incineration, recycling, and landfilling of waste
Demand for waste recycling services has been rising across the globe due to the enactment of regulations regarding control of carbon emission and increase in the circular economy.
Recycling of waste is the process of collecting and processing the waste material into new products or using it as raw material for different applications.
Waste recycling services differ depending on the waste to be recycled. The common process carried out in waste recycling services entails collection, sorting, processing, and crushing.
Various technologies such as IoT, artificial intelligence, and augmented reality are being used in waste recycling services to automate and reduce human interference
Demand for waste recycling services in Europe is expected to increase significantly in the near future, owing to better collection and processing of waste due to implementation of waste directive frameworks by government bodies
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Rise in Private Sector Investments in Waste Management Sector to Europe Waste Recycling Services Market
The engagement of private sector organizations in waste management can be illustrated in various ways. Private sector organizations are involved as providers of waste management-related services, investors in waste management facilities, developers of new methods and technologies, and technical advisers.
Private sector investments in waste recycling services have been increasing in regions where the waste management sector is supported by government regulations
Private sector organizations are major stakeholders in waste recycling services in European Member States. These organizations also play a key role in the management of most types of wastes in some states. The municipal waste is primarily managed by local government, while the private sector focuses on the management of industrial waste.
The private sector provides valuable finance and carries out substantial improvements in the efficiency of overall waste recycling services in Europe
Thus, rise in private sector investments in waste management in Europe is estimated to propel the waste recycling services market in the region
Lack of Awareness about Waste Recycling to Hamper Europe Waste Recycling Services Market
Improvement in standard of living has led to purchase of an increasing number of products. Single-person households tend to produce more waste per person than families or groups.
Consumption of products has changed significantly, as consumers currently have much more choice. The lifespan of products has also become shorter.
Advancement in technology has increased the use of personal devices. However, lifestyle changes are resulting in generation of more waste than before.
It is necessary to spread awareness about waste management and recycling of products among individuals. Government bodies in Europe have started taking initiatives in spreading awareness about minimizing and recycling of waste.
Lack of awareness regarding waste management among individuals is likely to hamper the waste recycling services market in the region in the near future
Growth in Number of Waste Management Laws to Provide Opportunities to Europe Waste Recycling Services Market
Europe has officially adopted new laws to prevent waste and boost recycling. In
European leaders approved higher recycling targets and new measures to reduce waste across the region.
The new laws also include economic incentives for reuse, deposit-return schemes, food donations, and phase-out of subsidies that promote waste
Recycled waste is projected to be a significant source of secondary materials and critical raw materials. This is expected to drive the usage of waste as a resource, thereby resulting in a more circular economy.
Some of the directives implemented by the European Commission:
Separate collection for textiles by
and separate collection for bio-waste by 2023
Reuse and recycle of waste materials such as paper, metal, plastic, and glass from households must be increased to a minimum of
by weight by
Reuse and recycling of municipal waste must be increased to
2030 , and
Thus, increase in waste management practices and rise in regulations related to recycling in Europe are anticipated to create opportunities in the waste recycling services market in the region
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Recent Developments, Expansions, Acquisitions, and New Contracts in Europe Waste Recycling Services Market
February 2020 , Biffa, a leading sustainable waste management company in the U.K., announced that it had won a contract from Müller UK, a pioneering dairy company, to supply food grade recycled High-Density Polyethylene (rHDPE) plastic to be used in all its milk bottles. Biffa has developed industry-leading technologies to improve the washing and extrusion process for plastics continuously over the years. This would enable Müller UK to use up to
of recycled plastic in its bottles.
Germany to be Highly Lucrative Region of Europe Waste Recycling Services Market
Germany is anticipated to be a highly attractive region of the waste recycling services market in Europe during the forecast period. The waste recycling services market in Germany is estimated to expand at a significant pace between 2020 and
as the country has the highest waste recycling rate of
62% . This can be ascribed to stringent waste management laws and targets related to recycling of waste. Furthermore, Germany is focusing on circular economy. This is anticipated to secure the country's access to high quality and affordable raw materials.
The U.K. held significant share of the waste recycling services market in Europe in 2019. The waste recycling services market in the country is likely to expand a moderate pace during the forecast period.
Highly Competitive Europe Waste Recycling Services Market
The waste recycling services market in Europe is highly fragmented. A few international and local players hold major share of the waste recycling services market in Europe.
Prominent players operating in the waste recycling services market in Europe are
Sims Metal Management Limited Waste Management, Inc. SUEZ Veolia Sims Lifecycle Services, Inc. Ragn-Sells Group REMONDIS SE & Co. KG Kuusakoski Fortum Marius Pedersen a.s. Norsk Gjenvinning Norge AS SCHOLZ RECYCLING GMBH Paprec Group Biffa TRADEBE H.J. Hansen Recycling Industry A/S Recycling Lives EUROKEY RECYCLING GROUP Waste Recycling Inc.
Europe Waste Recycling Services Market – Scope of the Report
The latest study collated and published analyzes the historical and present-day scenario of the waste recycling services market in Europe to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the waste recycling services market in Europe in order to identify opportunities for stakeholders. The report also provides insightful information about how the waste recycling services market in Europe would expand during the forecast period of 2023-2033.
The report offers intricate dynamics about different aspects of the waste recycling services market in Europe, which aids companies operating in the market in making strategic decisions. The study also elaborates on the significant changes that are anticipated to configure growth of the waste recycling services market in Europe during the forecast period. It also includes key indicator assessment that highlights growth prospects for the waste recycling services market in Europe and estimates statistics related to the market in terms of value (US$ Mn)
This study covers detailed segmentation of the waste recycling services market in Europe, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the waste recycling services market in Europe, wherein various development, expansions, and winning strategies practiced by these players have been presented in detail.
Key Questions Answered in the Report on Europe Waste Recycling Services Market
The report provides detailed information about the waste recycling services market in Europe on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market in Europe and are looking for innovative methods to create a unique benchmark in the market so as to help them design successful strategies and make target-driven decisions.
Which waste recycling type segment of the waste recycling services market in Europe would emerge as a major revenue generator during the forecast period?
How are key market players successfully earning revenues in the waste recycling services market in Europe?
What would be the Y-o-Y growth trend of the waste recycling services market in Europe between 2023-2033?
What are the winning imperatives of leading players operating in the waste recycling services market in Europe?
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Research Methodology – Europe Waste Recycling Services Market
The research methodology adopted by analysts for compiling the report on the waste recycling services market in Europe is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the waste recycling services market in Europe.
During the primary research phase, analysts have interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the waste recycling services market in Europe.
For secondary research, analysts have scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the waste recycling services market in Europe.
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