Why Waste Recycling Remains a Niche Market Despite Market Obstacles in Solid Waste Management
Originally Published on: SpendEdge | Challenges in the Solid Waste Management Market – Why Waste Recycling is Still a Niche Market
Since the beginning of human civilization, solid refuse management techniques have undergone substantial development. Newer technologies, such as anaerobic digestion, thermal conversion, plasma gasification, and waste autoclave, have replaced the burning of solid refuse. In order to reduce pollution and promote a healthy environment, waste management has been the top priority for many administrations. But waste management is not a simple task, as governments face numerous logistical, technological, and financial obstacles.
Issues Regarding Waste Disposal in Developing Countries
The community's "not in my backyard" mentality poses the greatest obstacle to instituting modern waste management infrastructures such as waste-to-energy plants, recycling centers, and ash landfills in developing nations. The majority of residents across the globe oppose the installation of such facilities due to the offensive odor they produce and the potential for health risks. In the vast majority of developing nations in the APAC region, this issue persists.
Financial Restriction
Private investment in the field of solid waste management is alarmingly low due to the need for enormous financial investments and the limited potential for profit. Moreover, governments of developing nations allocate meager funds for solid waste management. The limited ability of customers to pay for such services also hinders the expansion of this market.
Expensive Installation Fees
Installation of recycling facilities is expensive, costing millions or even billions of dollars in infrastructure costs and monthly maintenance expenses. For instance, establishment of a 10MW recycling facility will cost companies approximately $1 billion in addition to $100 million in operational and maintenance expenses.
In SpendEdge's forthcoming report on the global solid waste management market, you can learn more about the market's obstacles, as well as supply market landscape, pricing, and procurement insights.
