LONDON (Scrap Monster):The recycling rate is climbing and the volume of recyclable material sorted and sold is growing.
A raft of government policies to divert waste from landfill is underpinning an increase in the collection of recyclables and investment in sorting capacity. Moreover, public contribution to recycling efforts continues to grow, providing impetus for growth.
Paper, plastic, glass and metal are the main materials sorted and then sold on global and domestic markets. Firms sorting non-metal material generate about 23% of revenue in the Sorted Material Recovery industry. This includes firms operating material recycling facilities (MRFs).
Operators involved in the sorting of scrap metal generate the bulk of revenue.
After consecutive years of strong recyclable material price increases, the industry suffered a setback in 2008-09 as prices plunged due to the onset of the financial crisis.
The volume of commercial and industrial waste generated also fell, reducing MRF gate fees. The Sorted Material Recovery industry has strong revenue volatility so over the five years to 2012-13 growth was moderate at 4.4% per annum.
Over the five years through 2017-18, industry growth will be supported by greater volumes of recyclable materials sent for sorting, particularly by commerce and industry, and revenue is expected to increase strongly.
For these reasons, industry research firm IBISWorld has updated its report on the Sorted Material Recovery industry.
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