Medical, Plastic and Municipal Wastes Management
Waste management or Waste disposal is all the activities and actions required to manage waste from its inception to its final disposal. This includes amongst other things, collection, transport, treatment and disposal of waste together with monitoring and regulation. It also encompasses the legal and regulatory framework that relates to waste management encompassing guidance on recycling etc.
Plastic recycling is the process of recovering scrap or waste plastic and reprocessing the material into useful products. Since plastic is non-biodegradable, recycling is a part of global efforts to reduce plastic in the waste stream, especially the approximately eight million metric tonnes of waste plastic that enter the Earth’s ocean every year. This helps to reduce the high rates of plastic pollution.
Municipal solid waste (MSW), commonly known as trash or garbage in the United States and as refuse or rubbish in Britain, is a waste type consisting of everyday items that are discarded by the public. “Garbage” can also refer specifically to food waste, as in a garbage disposal; the two are sometimes collected separately.
Biomedical waste is any kind of waste containing infectious (or potentially infectious) materials. It may also include waste associated with the generation of biomedical waste that visually appears to be of medical or laboratory origin (e.g., packaging, unused bandages, infusion kits, etc.), as well research laboratory waste containing biomolecules or organisms that are restricted from environmental release.
Market Outlook
India is a growing market for plastics and consumes about 12.8 Million Metric Tonnes (MMT) of plastics annually against global consumption of 285 MMT per year.
The e-waste management market, which is regularised compared to other solid waste, is expected to grow at 10.03 percent and the bio-medical waste management market is expected to grow at 8.41 percent during the same period.
The Waste Management Market in India 2014 – 2025 report finds that 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%.
India’s consumption of plastics will increase to 20.02 million tons per year from the current 8.01 million tons per year.
The global plastic waste management market is projected to be valued at around USD 26,573.3 million by 2020, growing at a CAGR of 3.02% from 2015 to 2020. The market for recycling plastics is projected to grow at the highest CAGR.
The global recycled plastics market will grow at a steady CAGR of more than 4% during the forecast period. The growing demand for plastics from various industries including healthcare, food and beverage, oil and gas, and construction is expected to propel the growth prospects of the recycled plastics market globally.
The Global Plastic Waste Management Market is poised to grow at a CAGR of around 3.5% over the next decade to reach approximately $31.61 billion by 2025.
The global medical waste management market is expected to reach USD 13.3 Billion by 2020 from USD 10.3 Billion in 2015, at a CAGR of 5.2% from 2015 to 2020.
A large portion of the overall medical waste generated in the U.S. is of the non-infectious variety. In 2014, non-infectious waste accounted for a dominant share of around 63% in the U.S. waste management market. In the same year, infectious waste accounted for the second-largest, 22.6%, share of the market.
Global Medical Waste Management Market is valued at $10.78 billion in 2015 and is expected to grow at a CAGR of 5.9% to reach $16.2 billion by 2022.
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