Industrial Waste Management Market

Global Industrial Waste Management Market Size (2024 to 2029)

The global industrial waste management market is predicted to reach USD 1,471.53 billion in 2024 and USD 2,276.62 billion by 2029, growing at a CAGR of 9.12% during the forecast period.

The increasing awareness of waste management in society and the need to avoid health issues due to waste create a new trend in the market. Different types of waste management treatment are available on the market. Also, increasing government investment in waste management and waste treatment has made new changes in the market. Different methods for industrial waste management, such as landfills, recycling of waste, incineration of waste, energy recovery, and biological processes, give a new economic status to the industrial waste management market. Also, the method of collecting industrial waste and disposal techniques gives a new account to the market growth.

Global Industrial Waste Management Market Drivers:

In the global industrial waste management market, different methods and techniques drive the growth of the whole market. Increasing urbanization and smart city trends give a new direction to the industrial waste management market. Also, the increasing industrialization gives new opportunities for the growth of the market with the help of waste management services. Increasing waste management services and rising awareness of health give new trends to the market. Recycling waste is the most suitable process for waste management. The recycling process has major market growth that drives the overall market growth. The collection method is likely to have a major market share during the forecast period because about 2.1 billion tons of waste was collected in 2019.

Global Industrial Waste Management Market Restraints:

In the Industrial Waste Management Market, some restraint factors control the growth of the business. In hazardous waste management services, many problems have come at the point of the disposing process. Releasing several types of chemicals from the hazardous is the restraint factor of the market. Also, the lack of awareness of waste management in rural areas and underdeveloped countries may restrain the economic growth of the global industrial waste management market in the future. Also, in industrial waste, some toxic materials are released during the waste management process, which will also impede this market growth. The lack of initiatives by industries for waste management may also hinder the rapid expansion of the market in the future.

GLOBAL INDUSTRIAL WASTE MANAGEMENT MARKET REPORT COVERAGE:

This research report on the global Industrial Waste Management Market is segmented and sub-segmented based on the service, type, end-user, and region.

Global Industrial Waste Management Market - By Service:

• Collection

• Recycling

• Incineration

• Landfill

Recycling helps to 3R technologies and progress. The collection of Industrial Waste has a notable market share compared to its counterparts. The landfill is not a better service for chemical industrial waste management as it is probable to create a new disease in the environment.

Global Industrial Waste Management Market - By Type:

• Hazardous

• Non-Hazardous

Among these, hazardous waste management has a major revenue share. The processes used for this waste management are high in economics. Security is important in hazardous waste management and is required for the health of workers.

Global Industrial Waste Management Market - By End-Users:

• Machinery and Equipment

• Food and Drugs

• Metallic Minerals

• Electronics

• Plastic and Chemicals

• Textiles

Global Industrial Waste Management Market Region:

• North America

• Asia Pacific

• Europe

• Latin America

• Middle East & Africa

Amongst these, the Asia Pacific has a most substantial share with an expected market value of USD 400 billion in the coming years. The surge in urbanization and industrialization in this area is leading to the expansion of this market size. In particular, nations of the APAC, like Japan and China, have a major electronic waste and smart waste management market.

Impact of COVID-19 on the global industrial waste management market:

Several impacts are seen in the global industrial waste management market during the pandemic period of COVID-19. Smart waste and electronic waste collection procedures are increasingly being employed by several developed and developing nations worldwide. On the other hand, with the shutdown of several nations, some of the processes involved in waste management have been stopped. Also, the recycling and incineration process has stopped in almost all parts of the world during this period.

KEY MARKET PARTICIPANTS:

The major companies operating in the global industrial waste management market include Clean Harbors, Inc., Daiseki Co. Ltd., Waste Management Inc., Suez Environment S.A., Advanced Disposal Services, Veolia Environment S.A, Covanta, Remondis AG & Co. Kg, Biffa Group, and Hitachi Zosen Corporation.

RECENT HAPPENINGS IN THE MARKET:

• In May 2020, newly founded London-based Greyparrot nabbed 2 million for recycling and sorting solid waste with the help of automation technology. Artificial Intelligence and Software-based services monitor all waste management processes.

• In May 2020, solar waste material and solar panels will turn into new opportunities. In 2000, solar panels were manufactured and are in the stage of disposal, but these panels can be used in electric vehicles.