Solid waste management techniques have seen a significant evolution right from the start of human civilization till today. The process of burning solid waste has been replaced by newer technologies such as anaerobic digestion, thermal conversion, plasma gasification, and waste autoclave. Waste management has been the most prioritized agenda for many governments to cut down pollution and promote a healthy environment. But waste management is not a piece of cake, with governments facing several logistical, technological, and financial challenges along the way.
Here are some of the top challenges faced by the suppliers in the solid waste management market:
Waste Disposal Issues in Developing Country
The biggest challenge in implementing modern waste management infrastructures such as waste-to-energy plants, recycling centers, and ash landfills in developing nations is the “not in my backyard” mentality of the community. The majority of the residents across the world oppose the installation of such facilities because of the pungent smell it creates and the risk of possible health hazards. This problem is largely persistent in the majority of the developing nations in the APAC region.
The amount of private investment in the field of solid waste management is alarmingly low because of the requirement of massive financial investment and limited opportunity to gain returns. Additionally, governments of developing nations allocate low budget for solid waste management. The customer’s limited ability to pay for such services also hinders the growth of this market.
High Installation Costs
Installation of recycling plants doesn’t come cheap, costing millions and possibly billions of dollars in infrastructure costs in addition to monthly maintenance costs. For instance, companies will have to shell out around US$1 billion to set-up a 10MW recycling plant alongside around US$100 million in operational and maintenance costs.
Read more about the challenges in the solid waste management market along with supply market landscape, pricing, and procurement insights in SpendEdge’s upcoming report on the global solid waste management market.Preview of Global Solid Waste Management Market – Procurement Market Research Report