Latin America solid waste management market will be experiencing a significant increase with the steady growth in the urban population in the region
Ocean View, DE -- (SBWIRE) -- 04/06/2020 -- Rising focus on environmental concerns and escalating adoption of advanced waste treatment technologies are propelling solid waste management market growth. Increasing volume of solid waste across residential, commercial, and industrial sectors has induced the need for proper waste management practices. Additionally, growing awareness regarding the risks of improper waste disposal to public health and environment has evoked major concerns among regulators. Subsequently, governments are establishing various strict environmental norms and outlaying huge investments on development of effective waste treatment facilities, which will fuel solid waste management market growth.
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Sustainable waste disposal technologies & practices are being extensively implemented, which will spur solid waste management market growth. Intensifying awareness pertaining to the consequences of mismanagement on environment will influence solid waste management methods and technologies in the near future.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
4. Wheelabrator Technologies
5. Cleanaway Waste Management
6. Clean Harbors
7. Sims Metal Management Limited
9. Waste Management
11. Advanced Disposal Services
12. Inc. (NYSE: ADSW)
13. Waste Connections
Rapid growth in urban population has sizably increased the generation of solid waste. Existing waste treatment facilities are being overburdened, which will positively impact municipal solid waste management market demand. For example, as per the World Bank, in 2019, more than 50% of the global population was recorded to reside in urban areas and the figure is expected to double by the year 2050. A huge number of people migrating from rural to urban areas and amplifying economic prosperity have heightened the rate of non-hazardous waste generation, which, in turn, will propel municipal solid waste management industry growth.
The packaging industry is experiencing imminent growth from past few years due to which paper waste production is soaring considerably. It has been predicted that solid waste management market from paper & paperboard segment will accumulate massive revenues in the ensuing years. Waste generation from cardboard related consumables is also growing owing to the commendable expansion of e-commerce industry. Tier-2 & tier-3 cities are producing enormous amounts of paper waste, including magazines, books, and newspapers.
Latin America solid waste management market will be experiencing a significant increase with the steady growth in the urban population in the region. According to the 2018 reports by the UN-Habitat, the cities in Latin America will be composed of about 90% of the population of the region by the year 2050. Regional authorities will be making certain changes and shall restructure the regulatory framework to strengthen management practices, fueling the industry trends over the forecast timeframe.
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Soaring investments towards the establishment of effective waste treatment infrastructure & facilities and rising demand for sustainable solid waste management technologies have encouraged industry players to develop novel waste management solutions. Companies are disbursing heavy amounts in R&D activities to gain competitive advantage over the market. Some of the eminent solid waste management market players are Waste Management, Inc., Waste Connections, and Biffa Group amongst others.
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