Construction waste market to grow at CAGR of 9.67%: report
- The Construction Waste Management Market 2015-2019 global report says the global market will grow at a compound annual growth rate (CAGR) of 9.67% by revenue from 2014-2019. The report notes that illegal dumping is a major factor hindering growth.
- The report also said that rapid urbanization and industrialization are contributing to construction increases worldwide. The major construction waste generators are the U.S., the U.K., Germany, China, India and Brazil.
- Commercial buildings contribute significantly to solid waste generation, but implementing waste management programs in the design phase can minimize waste. The report notes the green building trend, which reduces waste throughout the building's life cycle.
Construction and repair projects generate tons of waste that needs to be managed efficiently. The waste can raise environmental concerns and lead to resource depletion, however concrete, wood, plastic, and glass can be easily reused and recycled if managed properly.
While construction waste is a significant contributor to the solid waste stream, many researchers are seeing how the solid waste stream can also be a significant contributor in construction. CU Denver Professor Julee Herdt has developed BioSIPS, which are building panels created from waste material, such as hemp and food waste. Additionally, companies like VolkerWessels are researching how ocean plastic can be used to build roads.