The value added of waste management and materials recovery in Australia has seen a significant upward trend from 2013 to 2023, starting at 4.07 billion AUD and reaching 6.35 billion AUD in 2023. While there were some fluctuations, particularly a dip in 2015, the general trend has been positive, with notable growth spikes in 2017 and 2020. The year-on-year variations have generally leaned positive, signaling robust industry resilience and expansion.
Over the past two years, the industry experienced steady growth with year-on-year increases of 4.23% in 2022 and 4.01% in 2023. The compound annual growth rate (CAGR) over the last five years stands at 5.47%, indicating a solid average annual growth rate.
Looking ahead, the forecast anticipates continued growth with the value added reaching 7.54 billion AUD by 2028. The five-year forecasted CAGR is predicted at 2.72%, showing steady albeit slower growth compared to the previous periods.
Future trends to watch for include advancements in recycling technologies, increased regulatory pressures for higher waste diversion rates, and greater public and private investment in sustainable waste management solutions. Additionally, the integration of digital tools and data analytics to optimize waste management processes could become a significant driver of future industry growth.
