With the global Energy from Waste (EfW market) expected to be worth $40 billion by 2023, EfW is evolving into its own dynamic energy sector, according to a new report by the Energy Industries Council (EIC).
Courtesy of EIC
The market is expected to provide a breadth of supply chain activities to explore for those looking to enter or diversify into the market.
In the last few years, the EfW market has gained momentum and now under more scrutiny and pressure to improve its management procedures.
EIC's Energy from waste Insight report explores the role of Efw plants in the future global energy mix and offers a detailed analysis of the industry and projects on offer within the UK. It highlights the steps countries are publicly striving to meet such as air quality and climate change targets and the introduction of various waste taxes and rise in import bans.
Speaking at EIC's sold out 'Energy from Waste Showcase' on January 21, EIC Analyst and author of the report, Sharanya Kumaramurthy, commented, "EfW developments are starting to be viewed as a necessity for the current waste predicament now more than ever and are becoming an accepted paradigm in closing the waste management loop.
"Traditional linear waste models are no longer an excusable option to dispose of waste and countries are now actively looking to implement a circular economy strategy. Advancements in efficient technologies are expected to drive down costs, making EfW facilities more affordable across the globe."
The UK has shown signs of a promising market for EfWs with its recent flurry of activity.
With the UK still requiring a further 7.5 million tons of EfW capacity, the clear need for the market has helped portray the region as a favorable environment for development. Its economic standing and waste legislations has also helped attract developers to the scene.
Despite its positive outlook, an array of challenges through the development process still need to be addressed.
With the UK leaving the EU, it has raised questions regarding potential changes and its existing waste management procedures and policies.