Opportunities in the Asia-Pacific hazardous waste management market vary across the region as many countries continue to send most of their locally produced hazardous waste to non-sanitary landfills.

While the challenge is vast, the market provides ample opportunities for market participants offering practical, innovative and low-cost solutions.

Due to the widely differing physical and chemical characteristics of hazardous waste, solution providers must carefully match treatment technologies to each waste type, the degree of hazardous content reduction required, and economic factors.

A new analysis from Frost & Sullivan, ‘Benchmarking Country Opportunities in Hazardous Waste Management Market in Asia-Pacific,’ found that four countries—Australia, Japan, Singapore, and South Korea—are the most suitable for sustainable and long-term investments owing to strict environmental laws.

The market in Singapore is expected to offer highest scope for growth.

Janice Wung, Frost & Sullivan energy and environmental research analyst, said: “The implementation of specific regulations will spur market segments. For example, the execution of the South Korean Toxic Chemical Control Act has accelerated the adoption of advanced treatment equipment.”

Although environmental laws have been put in place in developing countries, the lack of co-ordination among implementing agencies is a prime concern, said the report.

Weak enforcement due to capacity and resource constraints is also likely to discourage the use of appropriate hazardous waste management in several Southeast Asian countries.

The traditional monitoring-based enforcement of environmental regulations too has decreased at both the state and federal levels in mature markets. This is compelling regulators to look for alternative methods to encourage compliance.

“In addition to advocating for sustainable waste management, regulatory agencies must continuously educate the public on environmental issues and the need for better enforcement,” said Wung.

“Meanwhile, solution providers aiming to excel in the industry need to collaborate with global companies and improve technological know-how to stay competitive in the Asia-Pacific market,” she added. - TradeArabia News Service