New Research Report on Waste Recycling Services Market

The market research company Future Market Insights has announced the addition to the report “Waste Recycling Services Market: Global Industry Analysis and Opportunity Assessment 2014 – 2020“ to their offering.

Recycling is the next trend, the provider of the report acknowledges. “The growth of the waste recycling services is driven by the technology development for waste recycling, the government initiatives towards recycling of waste product and push for reuse of wastage materials,” Future Market Insights states. “Increasing awareness towards benefit of recycling among people and growing numbers of recycling manufacturers are other factors which will uptake the growth of the recycling industry in the near future.”

The waste recycling services industry faces a different set of challenges that include increasing demand and restricted supply, increasing use of natural resources to produce recycled products, and high cost involvement for producing recycled product. However, due to unsuitable government policies for both manufacturing and reprocessing, environmental, health and safety concerns have been caused. A growing demand from regional market and economical labor costs are expected to drive the demand for global waste recycling services market in the near future.

According to market research, the automotive segment has dominated the recycling services market and held over 50 percent of the market share in 2014. According to the information, the tire and rubber segment is expected to witness 4.3 percent CAGR (compound annual growth rate) in the near future. However, iron and steel is another sub-segment of metal which is estimated to account for 53.3 percent of total revenue market in the near future. This is a tribute to the substantial decline in the metal price.

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