Market Trends of Asia-Pacific Waste Management Industry
Plastic Waste Driving Waste Management in Asia-Pacific
- The Asia-Pacific region grapples with a staggering volume of mismanaged plastic waste, propelling a global call for more effective waste management solutions. This urgency accentuates the demand for advanced waste management technologies and infrastructure enhancements. Driven by this, private entities and governments increasingly invest in developing and deploying cutting-edge waste processing and recycling technologies.
- For instance, in 2024, China led the Asia-Pacific nations in mismanaged plastic waste, with an estimated 55 million metric tons. New Zealand stood out in the same year, accounting for 8.41 thousand metric tons of mismanaged plastic waste.
- In June 2024, an Australian federal committee made 22 recommendations to combat plastic pollution in the nation's water bodies. In November 2022, Australia's commitment to curbing plastic pollution was further underscored as it joined the High Ambition Coalition to End Plastic Pollution. This coalition aims to eradicate global plastic pollution by 2040 through a new treaty.
- These actions shape the waste management landscape in the Asia-Pacific and emphasize the pressing need for advanced recycling technologies, enhanced waste collection systems, and innovative waste reduction strategies.
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China's Waste Management Initiatives Propel Market Growth and Innovation
- Data from the National Bureau of Statistics of China revealed that the nation had around 444 sanitary landfill sites as of 2022. Over the past decade, China has steadily increased its waste output, reaching approximately 244.5 million tons by 2022.
- Furthermore, the volume of regular solid industrial waste produced in China amounted to 41 billion metric tons in 2022. This surge in waste generation underscores the urgent need for advanced waste management technologies and services in China, a trend expected to drive growth and innovation in the APAC waste management market.
- China launched a nationwide waste sorting campaign in 2017 to address this waste challenge. By 2020, over 80 cities had fully implemented or were piloting mandatory sorting of municipal waste into categories such as food waste, recyclables, hazardous waste, and residuals. The plan is to extend this sorting system to all cities between 2025 and 2030. This initiative is expected to spur growth and innovation in the waste management sector, encouraging investments and technological advancements throughout the APAC region.
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