As a waste treatment method, composting refers to the use of microorganisms such as bacteria, actinomycetes, and fungi that are widely distributed in nature, under certain artificial conditions, to promote the transformation of biodegradable organic matter into stable humus in a controlled manner. The biochemical process is essentially a fermentation process. Composting has two obvious advantages: one is the ability to turn nasty waste into manageable materials, and the other is the creation of valuable commodities and compostable products.
At present, global waste production is growing rapidly, and the demand for composting treatment is also increasing. The improvement of composting technology and the improvement of equipment promote the continuous development of the composting industry, and the global composting industry market scale continues to expand.
Global solid waste generation exceeds 2.2 billion tons
Driven by rapid globalization and population growth, the amount of global solid waste generated is increasing year by year. According to the data released in “WHAT A WASTE 2.0″ released by the World Bank in 2018, the amount of global solid waste generated in 2016 reached 2.01 billion Tons, foresight According to the forecast model published in “WHAT A WASTE 2.0″: Proxy waste generation per capita=1647.41-419.73In(GDP per capita)+29.43 In(GDP per capita)2, using the global per capita GDP value released by OECD According to calculations, it is estimated that the global solid waste generation in 2019 will reach 2.32 billion tons.
According to the forecast data released by the IMF, the global GDP growth rate in 2020 will be -4.4%, and the global GDP in 2020 is expected to be roughly 83.8 trillion US dollars. According to the forecast, the global solid waste generation in 2020 is expected to be 2.27 billion tons.
According to the data released by “WHAT A WASTE 2.0″, from the perspective of the regional distribution of global solid waste production, East Asia and the Pacific region produces the largest amount of solid waste, accounting for 23% of the world’s total, followed by Europe and Central Asia, whose solid waste Waste generation accounts for 20% of the world’s total, South Asia’s solid waste generation accounts for 17% of the world’s, and North America’s solid waste generation accounts for 14% of the world’s.
South Asia has the highest proportion of composting
According to the data released in “WHAT A WASTE 2.0″, the proportion of composting in the global solid waste treatment is 5.5%. %, followed by Europe and Central Asia, which accounted for 10.7% of composted waste.
The global composting industry market size is expected to reach USD 9 billion by 2026
The global composting industry has opportunities in agriculture, home gardening, landscaping, gardening, and construction. According to data released by Lucintel, the global composting industry market size was USD 6.2 billion in 2019. Due to the global economic recession caused by COVID-19, the global composting industry market size is expected to decline in 2020. The global composting industry market size in 2020 is approximately $6 billion, however, the market will witness a recovery in 2021 and is expected to reach $9 billion by 2026, growing at a CAGR of 5% to 7% from 2020 to 2026.
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Post time: Jun-30-2022