Europe Waste Recycling Services Market expand at a CAGR of ~6%

Recycling Targets Overburden Incineration Centers in Europe amidst COVID-19 Pandemic

The novel coronavirus (COVID-19) has created revenue opportunities for companies in the Europe waste recycling services market, but has also created challenging recycling targets. It has been found that Wales is the only U.K. country, which has been successful in meeting its recycling targets. There has been an exponential growth in the volume of household waste during the COVID-19 pandemic, while many recycling centers have been shut during the crisis. This has caused tension in adjusting the legislature to meet recycling targets.

Moreover, staff absence at recycling centers in Europe is another challenge for health commissions. Redundant recycling practices such as segregation of waste by hand was found to be the key reason to prevent putting the workforce in the harm’s way. As such, the Cardiff council is strategizing on weekly waste collection strategies to efficiently sort and recycle domestic rubbish.

These factors are expected to drive the Europe waste recycling services marketduring the forecast period.

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Strategic Agreements Between Companies Help Create Industry-ready Plastic Resins

Companies in the Europe waste recycling services market are investing in capacity additions to achieve plastic chemical recycling. For instance, in April 2024, Recycling Technologies Ltd.- a U.K.-based company committed to accelerate evolution of plastic, announced to set up first-of-its-kind European plastic chemical recycling machine at the Brightlands Chemelot Campus’s chemical industry. Companies in the Europe waste recycling services market are setting their collaboration wheels in motion to recycle plastic waste into valuable feedstock for new plastic production.

Patented technologies are a recurring trend in the market, which is expected to expand at a CAGR of ~6% as the market matures during the assessment period. Manufacturers are using these technologies to revolutionize low-grade plastic waste into virgin-like plastic products. These patented technologies are increasingly replacing mechanical recycling methods to prevent plastics from ending up in landfills.

Companies Scale Unlimited Growth by Converting Mixed Plastic Waste into Composite Products

The growing pollution caused by single-use plastics such as straws and wrappers is revealing the true depth of the global waste problem. Hence, companies in the Europe waste recycling services market are introducing patented technologies to reduce the amount of discarded waste. For instance, Wimao Ltd.- a Finnish provider of breakthrough technology in recycling mixed plastic waste, has set on an expedition to launch its pilot REMAT production plant, which converts mixed plastic waste and wood waste into composite products. Such innovations are bolstering growth of the Europe waste recycling services market, which is estimated to reach US$ 242 Bn mark by the end of 2030.

Companies in the Europe waste recycling services market are scaling incremental opportunities by recycling mixed plastic waste, which is a rich source of raw material that can be weighed in billions of tons.

World-saving Recycling Technologies Convert Solid Waste into Reusable Commercial Products

The U.N. Environment Program has highlighted the issue of growing solid waste ending up in landfills, which has become a central issue for pollution worldwide. Hence, companies in the Europe waste recycling services market are taking cues from world-saving technologies introduced by companies in the Middle East. For instance, UBQ Materials – a recycling center in Tel Aviv, Israel, has invested in a production line, which transforms unsorted household waste into sustainable and bio-based materials that can be reused for commercial and industrial products.

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Recycling services are witnessing increased demand to convert unsorted household waste into climate-positive thermoplastic materials that are replacing toxic petroleum-based plastics. Innovative recycling technologies are giving rise to products that can substitute conventional petrochemical plastics and wood, resulting in reduced oil consumption and deforestation. Companies in the Europe waste recycling services market are using technologies to decompose organic materials in landfills to reduce issues of greenhouse gas emissions.

Circular Programs Encourage Waste Recycling Services in European Cities

Several cities in Europe are aiming to become fully circular and reduce the amount of residual waste. This trend is anticipated to create incremental opportunities for companies in the Europe waste recycling services market. However, lack of awareness regarding waste prevention among polluters such as retail business owners and restaurants is posing a challenge for recycling companies. Hence, there is a need for specific programs that rope in the private sector stakeholders in waste prevention. The Apeldoorn Recycle Service 2025 is an innovative program, which is aimed at reducing the amount of residual waste from the private sector in Apeldoorn.

Local strategies involving circular and resource efficiency methods are being adopted in cities of Europe. This is creating value-grab opportunities for companies in the Europe waste recycling services market who are strategizing on waste collection methods for paper and plastic waste.

Companies Eye Business Opportunities in Difficult-to-Modify Materials to Generate Revenue

Scientists have been making significant advancements in the recycling for plastics. For instance, John Layman – a head of material sciences at Procter & Gamble and founding inventor of PureCycle Technologies, has innovated in a revolutionary process that removes color, contaminants, and odor from polypropylene plastic waste and transforms it into virgin-like resin. Thus, companies in the Europe waste recycling services market should collaborate with such scientists to gain recognition on a global level.

Recycling companies are increasing their focus on polypropylene plastic, since this plastic is the second-most used plastic in the world and hardly any of its volume is actually recycled. Hence, companies in the Europe waste recycling services market are capitalizing on this opportunity to innovate in new methods to recycle polypropylene plastic. They are maximizing business opportunities in difficult-to-modify materials such as carpet waste to bolster revenue growth.

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Analysts’ Viewpoint

Apart from the disposable waste created by healthcare facilities, increasing number of domestic waste is compromising recycling facilities in Europe amidst the COVID-19 crisis. Companies in the Europe waste recycling services market are collaborating to innovate in new methods for plastic chemical recycling. However, lack of industry expertise in recycling explains why only a miniscule percentage of waste is being recycled worldwide. Hence, companies should increase their R&D to come up with patented recycling technologies and urge governments to introduce specific recycling programs that educate private sector businesses about the advantages of recycling, sustainability, and a circular economy.

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