U.S. Municipal Solid Waste Management Market Growth Is Driven by Rising Domestic Consumption Pattern with Rising Purchasing Power
U.S. Municipal Solid Waste Management Market will grow on account of rising environmental concerns along with ongoing development of effective waste treatment technologies.
Sellbyville, DE -- (SBWire) -- 06/17/2019 --U.S. Municipal Solid Waste Management Market growth is impelled by increasing domestic consumption pattern with rising purchasing power during the forecast period. As per Bureau of Labor Statistics average annual expenditures per consumer for 2017 was valued over USD 60,060 which is 4.8% increase from 2016 level. Development of various community based organic recycling approaches to achieve a sustainable economic status will tend to drive the Midwest MSW management market. The University of Minnesota is running U of M recycling drive under which annually more than 3,800 tons of recyclable materials has been processed which is over 40% of total MSW generated in campus.
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U.S. Municipal solid waste management market will be driven by growing consumption across residential establishments on account of increasing purchasing power. In 2017, the average annual expenditure per consumer stated by the Bureau of Labor Statistics was approximately worth USD 60,060 which witnessed an increase of 4.8% in comparison of 2016. New York composting and recycling MSW management market is predicted to grow over USD 450 million by 2024. Favorable government policies toward the promotion of sustainable waste management will augment the municipal solid waste management market size. The U.S. Department of Sanitation has provided detailed information regarding the procedure and list of recyclable products on their website coupled with their weekly pickup.
The remuneration graph of U.S. municipal solid waste management market has witnessed a phenomenal escalation in the past decade, owing to myriad economic & environmental advantages of effective waste management. The burgeoning challenges of solid waste due to tremendous surge in the population in the United States have further compelled the industry players to bring forth innovative, sustainable, and cost-effective approaches of MSW across the country. It has been reported that in general, the waste generation is higher during the strong economic growth of the country and therefore effective solid waste management network forms a significant factor driving the GDP.
The recurring efforts of municipalities to enhance public health and environment has been propelling municipal solid waste management market in the U.S. share over the last few years. Statistically, nearly five years before, Americans had generated approximately 250 million tons of trash out of which more than 30% of municipal waste had been recycled. The remaining solid waste however has been leading to an increase in the landfills that have raised concerns among the administrative and regulatory bodies. In line with the growing awareness about the rise in municipal solid waste, the organizations involved in environment protection have been encouraging the practices of waste disposal such as waste prevention, composting, and recycling. In this regard, most of the solid waste management companies have been investing in the development of new waste treatment technologies, that has proved to be a pivotal driving force for U.S. municipal solid waste management market.
Municipal solid waste management market across California was estimated over 41 million tons in 2017. Ongoing promotional activities and government measures toward the promotion of various recycling programs including CallRecycle will augment the industry landscape. In 2017, landfilling accounted for over 60% of the U.S. municipal solid waste management market share. Introduction of various anti-dumping norms by respective state and federal authorities will limit the landfilling activities while impeding the industry growth.
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The U.S. municipal solid waste management market will grow on account of rising environmental concerns along with ongoing development of effective waste treatment technologies. In addition, upsurge in domestic waste generation on account of rapid urbanization will positively enhance the business outlook. In 2015, more than 80% of the country's population was inhabited in urban cities as compared to 75% in 1990.
In addition to expanding recycling & composting services in the U.S. municipal solid waste management market, it is noteworthy to mention that the paper and paperboard trash accounted for a considerable 26% market share in 2017. Rapid progress of the packaging industry coupled with rising application of recycled paper and paperboard are expected to drive demand.
These above-mentioned trends significantly shed light on the progressive outlook of the U.S. municipal solid waste management market in the recent years. However, it wouldn't be wrong to say that China's ban on import waste has rocked the global solid waste management and recycling industry to gear up for managing their own waste and recycling efforts. It remains to be seen that how the U.S. municipal solid waste management industry will cope with the sudden change in policies as these new accumulating waste loads incur increasingly high rates in managing and recycling waste. Nonetheless, experts believe that as the export market for waste product dries up, the U.S. municipal solid waste management industry will be seen desperately recovering, recycling, and reducing the waste, while surpassing the overall remuneration portfolio of over USD 25 billion market by 2024.
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