A new report by Transparency Market Research forecasts that the global volume of construction waste is set to balloon in the coming years. Construction waste is anything that is generated as a result of construction, and then abandoned, regardless of whether it has been processed or stockpiled.
According to a report by the World Bank in 2012, there is a global collective of 1.3 billion tons of solid waste every year. This volume is expected to increase to 2.2 billion tons every year by 2025. Building material accounts for half of the solid waste generated every year worldwide.
Policies are being drafted to increase recycling of construction waste, as countries around the world are concerned about environmentally sustainable development. The solution for a sustainable future is to reduce, reuse and recycle. Various certifications such as LEED are in place in different countries to encourage the proper management of construction waste. However, lack of standardization, low margins, poor policy push, lack of awareness and lack of resources are the key barriers for the expansion of the construction waste market.