The waste management and materials recovery sector in Australia has seen significant growth from 2013 to 2024, increasing from $5.14 billion to $24.16 billion in value. The sector experienced a considerable jump in 2015 and has maintained consistent growth since. As of 2023, the market stood at $22.88 billion.
Year-on-year growth over the last two years was 6.63% in 2022 and 6.06% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years was around 6.62%. Looking forward, the forecasted CAGR over the next five years is 3.67%, suggesting a slower but steady growth, with a forecasted 19.73% overall increase by 2028.
Future trends to watch for include advancements in recycling technologies, increased governmental regulations on waste management, and the sector's adaptation to sustainability goals. Additionally, the emphasis on a circular economy may drive further innovations and investments in materials recovery.
