In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
October 23, 2019: REMONDIS and Neste announced a partnership for the development of chemical recycling of plastic waste, with a target of reaching an annual capacity to process more than 200 kilotons of plastic waste. The companies aim to build an ecosystem to enable other companies to join the initiative and accompany them in mechanical recycling.
The Europe waste recycling services market is estimated to garner a sizeable revenue and grow at a CAGR of ~6% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing consciousness among industries and consumers regarding the benefits of recycling wastes, and rapid surge in waste generation. According to the European Commission, in 2018, 5.2 tons of waste were generated per European Union inhabitant. Out of this, 38.5% waste were landfilled and 37.9% were recycled. Along with these, the waste recycling companies in Europe are investing heavily in plastic chemical recycling since the last few years. Manufacturers are expected to adopt advanced technologies to convert low quality plastic waste to brand new plastic products, which in turn is predicted to drive market growth in the upcoming years. Furthermore, increasing number of users who are connected to centralized wastewater treatment systems is projected to offer lucrative opportunities to the market growth in the near future.
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The market is segmented by product into plastics, paper & paperboard, metals, food, glass, electronic waste, and others, out of which, the paper & paperboard segment is anticipated to hold the largest share in the Europe waste recycling services market on account of the high consumption of pulp and paper, and growing paper waste recycling in the region. Along with this, the plastics segment is expected to witness the highest segment growth over the forecast period, which can be credited to the large volume of plastic waste in Europe. Another report by the European Commission depicts, from 2008 to 2018, paper and cardboard were the major packaging waste material in the EU amounting to 31.8 million tons of waste in 2018, followed by plastic which accounted for 14.8 million tons of waste in the same year. Additionally, on the basis of end user, the industrial segment is predicted to gather the largest share in the coming years ascribing to the high recycling potential of waste generated from construction, manufacturing, mining and quarrying. CLICK TO DOWNLOAD SAMPLE REPORT
In 2018, the world’s total energy supply was 14282 Mtoe, wherein the highest share in terms of source was captured by oil, accounting for 31.6%, followed by coal (26.9%), natural gas (22.8%), biofuels and waste (9.3%), nuclear (4.9%), hydro (2.5%), and other (2.0%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 2.5% in the first quarter of 2020 due to the outbreak of Coronavirus resulting in government-imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.
On the basis of geographical analysis, the Europe waste recycling services market is segmented into U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, and the rest of Europe. The market in Germany is estimated to witness noteworthy growth over the forecast period on the back of stringent government regulations associated with waste disposal and imposition of ban on landfill of waste. Apart from these, presence of well-established recycling facilities is also expected to expand the market in this region. As per the European Environment Agency, 68% of municipal waste was recycled in Germany in 2017. Along with this, more than 70% of packaging waste was also recycled in the country during that year. Additionally, increasing awareness for converting waste-to-energy in the country is also expected to contribute to the market growth. Moreover, the market in the United Kingdom is anticipated to acquire the largest market share during the forecast period owing to the large generation of commercial and industrial waste in the country, coupled with increasing number of government initiatives to reduce waste and develop massive quantities of sustainable products.
Our in-depth analysis of the Europe waste recycling services market includes the following segments:
Ans: Growing consciousness regarding the benefits of waste recycling and increasing amount of waste generated are the major growth drivers for the market.
Ans: The market is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2022 – 2030.
Ans: Improper maintenance of quality standards during waste management is estimated to hamper the market growth.
Ans: The major players in the market are Waste Management, Inc., REMONDIS SE & Co. KG, SCHOLZ RECYCLING GMBH, Norsk Gjenvinning Norge AS, Sims Lifecycle Services, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product, end user, and by region.
Ans: The industrial segment is anticipated to hold largest market size and is estimated to grow at a moderate CAGR over the forecast period and display significant growth opportunities.