Liquid Waste Management Market

Liquid Waste Management Market Size (2023-2028):

The Global Liquid Waste Management Market was worth US$ 95.88 billion in 2022. It is projected to reach a valuation of US$ 117.79 billion by 2028, registering a CAGR of 3.62% from 2023-2028.

Market Overview:

Managing and recycling the liquids produced as waste in various industrial operations is known as "liquid waste management." The treatment of a wide range of gases, industrial oils, sludges, and hazardous liquids generated from various sources is part of this process. 

Liquid waste can be either hazardous or non-hazardous. It might have organic material that is good for farming, or it might have diseases and artificial chemicals that are bad for the environment. Wastewater treatment's primary goal is to transform unusable effluent into something that can be dumped on land, in a river, or into the ocean. In primary treatment, suspended solids are screened and separated. In secondary treatment, waterborne bacteria are primarily responsible for turning dissolved biological waste into solid forms. Additionally, biological solids are neutralized during tertiary treatment, and cleaned water is chemically or physically disinfected before being disposed of.

Market Growth:

The liquid waste management market is predicted to grow significantly during the forecast period. The main factor accelerating the market's growth is the increase in the volume of liquid wastes produced by various industries. Other major market-driving factors include:

• Rising waterborne disease cases.
• Better recycling practices.
• Rising population levels.
• Increased awareness of environmental and hygienic issues.

Market Drivers:

The demand for liquid waste management services will be impacted by rising socioeconomic awareness of finite natural resources. It can be further fuelled by the introduction of stringent rules supporting improved management practices. It is anticipated that growing consumer knowledge of recycling and waste disposal advantages would favour market expansion. Moreover, numerous federal, state, and local governments place strict rules on the industry, which are anticipated to fuel market expansion throughout the forecasted period.

Moreover, the pandemic raised the demand for different medicinal items, leading to increased liquid waste output. The market may also experience rapid growth shortly due to increased liquid effluent management activities caused by rising manufacturing activities using toxic chemicals and expanding the pharmaceutical and healthcare industries.

Market Restraints:

The high cost of treating liquid waste is one of the limitations to the growth of the market. The ability of each country to treat its citizens depends on its level of revenue. As compared to other countries where the capacity is only 8%, high-income countries have a treatment capacity of about 70% of wastewater production. In addition, the soil and other freshwater resources are quickly contaminated by liquid waste. Therefore, it needs to be handled very carefully.

Moreover, the rising worries about the existing infrastructure being old and obsolete for this waste management processing will significantly hinder the market growth during the projection period.

LIQUID WASTE MANAGEMENT MARKET REPORT COVERAGE:

Market Segmentation:

Liquid Waste Management Market - By Source:

• Residential
• Commercial
• Industrial

The residential sector held the most significant revenue share in the worldwide liquid waste management market due to the more substantial generation of wastewater through residential construction.

Liquid Waste Management Market - By Industry:

• Textile
• Paper
• Iron & Steel
• Automotive
• Pharmaceutical
• Oil & Gas
• Others

In 2019, the paper industry dominated the market for liquid waste management at the global level. Compared to other sectors, the amount of waste produced by the paper industry is substantial.

Liquid Waste Management Market - By Service:

• Collection
• Transportation/Hauling
• Disposal/Recycling

The need for disposal/recycling is expected to grow at the highest CAGR during the forecasted period.

Market Regional Analysis:

• North America 
• Europe
• Asia Pacific 
• Latin America 
• Middle East and Africa 

North America is anticipated to dominate the liquid waste management market because of the region's growing population and improved recycling procedures. In addition, this happened due to an increase in waterborne disease cases resulting in more hygienic and environmental awareness. 

The Asia-Pacific market expects a high growth trend in the forecast period. In 2019, China was the second-largest market for liquid waste management services, and it is anticipated that it will have a 3.5% CAGR throughout the forecasted period. Increased government attention to reducing environmental pollution, as well as economic growth, industrialization, etc., are factors that support expansion for countries in this region.

 Europe is likely to experience growth in the liquid waste management market due to the volume of liquid waste produced by various businesses in this region.

The Middle East and Africa liquid waste management market will also have steady growth during the anticipated period. Brazil is expected to grow primarily because of its thriving service and manufacturing sectors. The iron, steel, pharmaceutical, and automobile industries are predicted to consume the most water, fueling industry expansion.

The Latin America region will also witness growth at a rapid pace in the liquid waste management market during the forecast period.

Market Key Players:

1. Covanta Holding CorporationStericycle, Inc.
2. Remondis SE & Co. 
3. Suez Environment
4. Clean Harbors Environmental Services
5. Hindustan Dorr-Oliver 
6. Veolia Environmental Services 
7. Waste Management
8. Republic Services
9. Morgan Group
10. REMONDIS

Market Recent Developments:

• VLS Environmental Solutions, a leading provider of sustainability solutions and ESG-focused waste management services in North America, has been sold by Aurora Capital Partners to I Squared Capital.