How to Start Recycling Business. Waste to Wealth-
Waste management is a global problem that continues to increase with rapid industrialization, population growth, and economic development. As the world hurtles towards the urban future, the amount of Municipal Solid Waste (MSW) is growing very fast. Waste includes any solid material or material that is suspended dissolved or transported in water or deposited on land. Wastes are generally classified into solid, liquid, & gaseous and are broadly classified as household waste; municipal waste; commercial and non-hazardous industrial wastes; e- waste, hazardous (toxic) industrial wastes; construction and demolition waste; health care wastes – waste generated in health care facilities (e.g. hospitals, medical research facilities); human and animal wastes; and incinerator wastes.
In the recent years, modern society has become more responsible when it comes to waste management. The fast industrialization, urbanization, modern technology, and rapidly growing population in India have posed a serious challenge to the waste management. In India, per capita generation rate of municipal solid waste ranges from 0.2 to 0.5 kg/day. At present, the daily generation rate in South Asia, East Asia and the Pacific combined is approximately 1.0 million tons per day.
The current scenario reveals that there is a tremendous scope for the development of waste treatment technologies and is expected to offer significant opportunities in the near future. Sustainability of waste management is the key for providing an effective service that can satisfy the need of end users. Solid Waste Management sector in India has become a very lucrative sector for investors. With a growing urgency for efficient waste management in many cities, there will be more and more employment opportunities in the sector. The participation of different sectors, roll of Government and private organization is important for better management of waste.
The waste management market in India is expected to be worth US$ 13.62 billion by 2025. Indian municipal solid waste (MSW) management market is expected to grow at a CAGR of 7.14% by 2025 while e-waste management market is expected to grow at a CAGR of 10.03% during the same period. India has planned to achieve a capacity of 2.9 million hospital beds by 2025 which will help bio medical waste management market to grow at a CAGR of 8.41%.
The industrial waste management market will grow from an estimated $863.8 billion in 2014 to $1,442.0 billion by 2019 with a CAGR of 8.9% from 2014 to 2019.
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