Australia's solid waste management market strengthening
Consulting firm Frost & Sullivan has released the report ‘Solid Waste Management Market in Australia’. Covering waste collection, waste recovery and waste disposal services, the study finds that the SWM market earned revenues of $6.80 billion in 2013 and estimates this will reach $8.21 billion in 2018.
The company forecasts that government emphasis on waste diversion from landfills will strengthen the prospects of the SWM market in Australia. Although the market is mature, it will continue to evolve in terms of waste collection efficiency and the uptake of resource recovery as the government implements a ‘reduce, re-use, recycling and recovery’ strategy.
“Current regulatory requirements and the need for the organised management of the rising amount of waste generated in Australia are pushing SWM initiatives by the government,” said Frost & Sullivan Energy and Environment Research Analyst Janice Wung. “The landfill levies imposed to divert waste away from landfill have further influenced stakeholders in the SWM market to turn to waste recovery.”
However, the varying management practices, definitions and classifications for waste among the various states and local government authorities have complicated the waste collection procedure in Australia. Waste management companies often need to customise solutions by regions, affecting their cost efficiency.
Furthermore, the high capital required for waste recovery and the price fluctuations of certain recycled materials deter firms from investing in material recovery facilities. To win new customers, offering environmental protection solutions as value-added propositions along with basic waste management services will be crucial, says the company.
“Private companies with established expertise in engineering both treatment facilities and landfill will be favoured in this market,” stated Frost & Sullivan Energy and Environment Research Associate Harpreet Kaur. “Those with state-of-the-art waste treatment processes and technologies too will gain an upper hand over the competition.”
The report can be found here
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