Global Recycling set to double by 2025
A recent study by the Bank of America shows that global waste management volumes are likely to double by 2025 and by 2020 are projected to be a $2 trillion market. The report identifies that over half the planet still don’t have access to basic waste management services with up to 70% of all waste currently going into landfill. The report identifies a major shift from waste being a mandatory public service to waste being a sustainable business opportunity. BA expects the fastest growth in the next decade to come from valuable secondary raw materials, waste –to-energy, e-waste and sustainable packaging.
This study follows on from an array of other good positive indications for the industry with global stainless steel scrap prices increasing by over 5% during August. A rebound in demand in China, and tightening nickel supply from the Philippines has been key bull factors.
In Australia community debate on recycling has been taken to a new level with the recent 4Corners report ‘Trashed’ which aired in late August that examines and makes claims about irregular behaviour and flouting of landfill levies, with transfer of inter-state landfill to Queensland, who currently don’t have a landfill per tonne levy.
Recycal work closely with state governments and with the industry generally to ensure the management of waste complies with local rules. Recycal takes its community responsibilities very seriously. The level of investment required both in equipment and manpower is such that the business must be strategic and work in the interests of the community as well as its shareholders. In recent years Recycal have worked closely with the Tasmanian government in the upgrade of their Hobart and Launceston operations with over $25 million being invested in new plant, equipment and systems, to ensure efficient, effective and sustainable scrap metal recycling. From fridges, car wrecks right up to large-scale transformers Recycal’s policy is that good recycling comes from working with all sections of the community from small business, to large corporate customers.