Transparency Market Research has published a new report "Integrated Waste Management for Offshore Industry Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2014 - 2020" to its report store.
Albany, NY -- (SBWIRE) -- 07/05/2016 -- The rapidly increasing volume of solid and hazardous waste resulting from persistent economic growth, industrialization, and urbanization has emerged as a burgeoning problem demanding effective solutions from both national and local governments. Sustainable waste management solutions are therefore considered imperative to ensure the well-being of the population. Integrated waste management is a systematic approach designed to manage industrial, community, and institutional waste streams. Integrated waste management (IWM) includes developing systems to ensure resource recovery, positioning of facilities, and implementation of policies and practices aimed at waste reduction.
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Emerging nations in particular are faced with an uphill challenge of properly managing waste. These nations are mainly focusing their efforts on generating sufficient funds for waste management. Experts suggest that if the majority of waste generated in these countries is diverted for resource and material recovery, a substantial reduction in final volumes of waste seems possible. Furthermore, recovered materials could be used for generating revenue to fund their waste management endeavors.
Q: How is the market benefiting from its regional segments?
A: Regionally, the global integrated waste management market for offshore industry is spread across Europe, Asia Pacific, North America, and Rest of the World. Some of the most lucrative markets for integrated waste management include Mexico and the U.S. The rising offshore operations in the Gulf of Mexico have significantly spurred the demand for integrated waste management in the U.S. and Mexico.
In the European region, the U.K., Russia, and Norway have emerged as the most attractive markets for integrated waste management. The huge oil and gas reserves in the North Sea has stimulated exploration and production activities in Norway and the U.K. in Europe. This has translated into an increased demand for efficient integrated waste management. Furthermore, the Europe market is also gaining impetus from the implementation of stringent regulations by governments on the disposal of drilling fluids.
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The market is also expected to considerably gain from the increasing offshore drilling activities in the emerging economies of Asia Pacific such as China and Indonesia. Besides this, developing nations in Latin America and the Middle East such as Venezuela, Brazil, and Iran also exhibit lucrative opportunities for the integrated waste management market.
Q: How are developed and developing nations trying to curtail waste disposal by industries?
A: The governments of developing nations are leaving no stone unturned to tackle the mounting concern of waste management. For instance, the government of India has recently launched a web-based application to help industries dealing with hazardous waste to seek online permission for the export and import of certain categories of waste used for recycling.
Abu Dhabi (EAD) in association with the Center of Waste Management had recently organized an introductory session on integrated waste management legislative framework for the emirate. During this session EAD has formally announced its five-year plan to enforce policies and integrated regulatory framework to promote waste recycling, reduction, and recovery apart from enforcement management.
However in developed countries such as the U.S., the government does not specifically dictate waste disposal. Nevertheless, various requirements guide the disposal options selected by industries. Furthermore, discharging oil-based drilling fluids in the sea is prohibited in the country.
Apart from these, governments are also offering various incentives to industries in order to encourage them to participate in different stages of integrated waste management. This is intended to help the industrial community gain better awareness about the importance of waste management.
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