What value will the European market for waste recycling services have in 2030?

by | Nov 19, 2020 | Blog, Circular economy, Optical Sorting | 0 comments

The European market for waste recycling services reached an approximate value of 115,000 million euros in 2019. A figure that could almost double over the next decade, as indicated in the report recently published by the consultancy Transparency Market Research (TMR).

According to the document, the value of this market is expected to reach 207 billion euros in 2030, has expanded at a compound annual growth rate of around 6 percent.

 

More recyclable waste, more recycling

A European citizen generates approximately half a ton of household waste per year. At the same time, the activity of industrial sectors such as construction, energy production, and, ultimately, those that manufacture any type of physical product translates into a huge amount of waste. Especially noteworthy is the increase in the use of technological products that has occurred in recent years, from which a complex mix of materials arises, including plastics and precious metals.

In addition to the care that their treatment requires due to the possible presence, also, of hazardous materials in them, these wastes end up containing various materials of great value that can be reused. At this point, the recycling services are required to act. Therefore, if more and more waste of this type is generated (which is what the trend sets that will happen), more and more is needed to recycle.

The rapid increase in waste generated may be the main driver for the market for recycling services in Europe. However, the TMR report also details how the advances made in the treatment of some waste push, at the same time, the recycling rate. We can discover in it how companies in the market strive to achieve chemical recycling of plastics or the increase experienced in technological patents to transform low-quality plastic waste into virgin plastic products.

 

Legislation leads to a Circular Economy

Currently, several technologies such as the Internet of Things, Artificial Intelligence, or Augmented Reality are already used in waste management and recycling plants to automate and reduce human interference. Replacing, with them, mechanical recycling methods help reduce the total amount of plastics that end up in landfills.

A change, of course, is driven especially, beyond those listed above, by the promulgation of regulations on the control of carbon emissions and the increase in the circular economy in recent years and from which we will see the results in the following.

Precisely, the European Union (EU) is one of the global players that is placing the most emphasis on this type of policy. The report highlights, among other actions, how since 2016 some EU countries have banned the dumping of plastic waste in landfills, registering a significant increase in the plastic recovery rate after the ban (between 2006 and 2018, the amount of plastic waste sent to landfills was reduced by 44 percent).

In fact, Europe’s progress towards a Circular Economy model, especially with regard to plastics, is not unknown news on this blog. A few weeks ago, we commented on the report “The circular economy of plastics – A European vision“, by PlasticsEurope or how Spain gave the “green light” to the “Spain Circular 2030” strategy.

 

PICVISA, bringing innovation to waste management

PICVISA leads the market for optical separators to automate and optimize recycling plants. Reports such as TMR’s show the importance of investing in innovation in the waste management sector and its subsequent recycling, something that we decisively do in our company.

We accumulate years of experience and knowledge in optical and intelligent robotics solutions and we work with all types of industries nationally and internationally.

Visit our website and discover how the PICVISA optical separators, ECOGLASS and ECOPACK, respond to the needs of today and offer solutions for tomorrow.

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