Published on : Jun 21, 2016
Disposing waste has emerged as a serious concern worldwide. It has been further aggravated by the launch of the latest technological advancements that shortens the overall lifespan of an electronic item. The situation is fiercer in developing nations that are now faced with the uphill challenge of properly managing waste to protect their environment. Additionally, the persistent economic growth, coupled with rapid industrialization and urbanization, witnessed in emerging nations has further bolstered concerns related to disposing the massive amount of waste generated effectively. National as well as local governments worldwide are thus focusing on exploring solutions to address such mounting concerns.
Integrated Waste Management Approach to Help Countries Mitigate Concerns of Waste Disposal
The solution of this mounting problem seems to be with integrated waste management. It is a systematic approach to manage community, industrial, and institutional waste streams. Integrated waste management comprises the development of compatible systems to ensure resource recovery, implementation of policies and practices, and positioning of facilities aimed at reducing waste.
Emerging nations are increasingly focusing on generating enough funds for waste management. According to experts this problem can be curtailed if majority of waste generated across these countries are diverted for material or resource recovery. This could significantly reduce the final volume of waste generated. Furthermore, these countries can then use recovered materials for generating revenue that in turn can be used for funding their waste management endeavors.
Integrated Waste Management System Market to Gain Significantly from Favorable Government Policies
Regionally, the global integrated waste management system for offshore industry market is segmented into Europe, North America, Asia Pacific, and Rest of the World. Countries exhibiting the most lucrative prospects for the market include the U.S. and Mexico. The market has been significantly gaining from the increasing offshore operations in the Gulf of Mexico.
In the European region, Norway, Russia, and the U.K have emerged as the most attractive markets for integrated waste management. The huge oil and gas reserve present in North Sea has given substantial impetus to exploration and production activities in Norway and the U.K., thus boosting the demand for integrated waste management for offshore industry in Europe. Furthermore, the vendors operating in the Europe market for integrated waste management are also gaining from the implementation of stringent regulations imposed by governments on the disposal of drilling fluids.