Living in a today’s era, going green” is an important concern which is realized by everyone around the globe. Pollution control is the only solution behind saving the Earth from getting warm. Out of many ideas of facilitating this concern, a vital one is the recycling industry. Many such businesses do not involve high capital, but the returns are quite high. One must be aware of certain pointers associated with carrying out this business, like having knowledge of waste collection process, selling areas as well as location of the company. To conclude, one must undergo proper research so that issues can be handled effectively, if arise.
NPSC’s brings a most analytics research from market about the waste management & recycling Industries:
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Market Situation:
- Indian market of waste management is currently growing at a speedy rate, due to increase in the business activity and the higher population levels, which generates lot of hazardous wastes & non-hazardous wastes.
- India has never come across the concept of Circular Economy, but it is quite popular nowadays. One can expect a lot of scope from waste management business in India because only 30% of the collected waste, which is 75%, is now recycled. Country has to face poor management of the waste due to reasons such as inefficient infrastructure, lack of effective policies for recycling, disposal & collection of the waste.
- There are lot of startup businesses which are interested in this industry with their creative ideas of managing and converting the wastes into resources which hold value. India still needs good knowledge so that it can competently handle the challenges faced by the Indian waste management industry.
NPSC’s forecast the major issues & about the global market demand of waste management & recycling industries setup:
Statistics & Issues:
The Indian population of 377 million is involved in generating around 62 MT (Million Tonnes) of municipal waste every year. Out of this solid waste, the collected amounts to 43 MT (Million Tonnes), treated is about 11.9 MT and 31 MT remaining waste is usually buried in landfill areas. One of the highly under-developed Indian state is Patna, the Capital city of Bihar. Government is planning to develop its infrastructure in managing the waste and converting it into energy.
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Managing the waste effectively is not an easy task for the country. There are several issues associated with the landfills such as restricting the poisonous liquid from making the ground water dirty and polluted, taking care of the combustible gasses which are released from fermentation of the waste stabilization of the waste heaps and so on. Government invites different tenders for treating of the solid waste, other wastes like that of plastic, sewage, demolition & construction, and medical. Various activities have to be performed in this process such as screening, transportation, collection, waste segregation & disposing the final waste with the help of equipment or energy conversion.
It is expected that by 2025, Indian sector of waste management would increase its worth to US$13.62 billion along with yearly rate of growth to be 7.17%. A lot of waste produced by India is disposed of at the landfill areas with no proper treatment or processing. If this waste is redirected to proper processing & treatment amenities, then there would be chances of opening innovative investment ideas.
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Future of this industry:
2 MT (Million Tonnes) of electronic waste (e-waste) is generated in India every year. The companies usually collect the e-waste and then segregate it, out of which devices which are usable are further refurbished. The final product is sold by contacting various dealers and through markets which have online access. The unwanted waste is then broken so that valuable commodities are extracted such as iron, Aluminium, copper and the like.
E-Waste works for this cause and it is currently facing issues concerning inability of making people aware of this disposal concept, higher expenses involved & competition that it faces from other sectors. Though the development of effective system of electronic waste collection has proved in lowering the costs of logistics, but the challenge of educating people to handle the e-waste disposal responsibly remains the same.
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