What Fueled The Previous Growth In The Waste And Recycling Market?
The waste and recycling market has seen considerable growth due to a variety of factors.
• Within recent years, the size of the waste and recycling market has significantly expanded. Its valuation is forecast to bolster from $30.7 billion in 2024 to $32.26 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.1%.
The factors contributing to this growth over the historical period include urbanization, population increase, regulatory structures, the rising public consciousness on environmental issues, and economic progress.
What Is The Expected Growth In The Waste And Recycling Market Size Evolve over the Forecast Period?
The waste and recycling market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for robust expansion in the waste and recycling market over the coming years. The market size is projected to reach $39.7 billion by 2029, with a compound annual growth rate (CAGR) of 5.3%.
The surge in growth predicted throughout the forecast period could be due to advancements in the circular economy, heightened electronic waste production, tighter regulations, increasing public consciousness, urban development, and infrastructure expansion. Notable trends expected during the forecast period encompass advancements in technology integration, superior data analytics, intelligent waste management systems, cutting-edge composting technologies, and the introduction of robotic systems.
What Main Forces Are Fueling Expansion In The Waste And Recycling Market?
The surge in e-waste production is anticipated to fuel the expansion of the waste and recycling industry. E-waste production pertains to the creation of electronic waste, which includes electronic devices and components that have been discarded due to replacement, upgrade, or disposal of electronics. This rise in e-waste generation is mainly inspired by the rapid progression of technology, culminating in more recurrent upgrades and disposals of electronic gadgets. Waste and recycling mechanisms aid in managing this escalating e-waste production by supporting the appropriate disposal, recycling, and retrieval of valuable materials from discarded electronic devices. For instance, the United Nations Institute for Training and Research (UNITAR), a training entity of the United Nations system based in Switzerland, in March 2024, noted that global e-waste production hit a record 62 million metric tons in 2022 and is expected to swell by 32% to 82 million metric tons by 2030. Consequently, the surge in e-waste generation is set to stimulate the expansion of the waste and recycling industry.
What Are The Primary Segments In The Global Waste And Recycling Market?
The waste and recycling market covered in this report is segmented –
1) By Type: Municipal Waste, Industrial Waste, Hazardous Waste, Others
2) By Service Type: Collection, Transportation, Disposal, Others
3) By Application: Packaging And Consumer Goods, Construction, Landscaping Or Street, Other Applications
Subsegments:
1) By Municipal Waste: Household Waste, Commercial Waste, Construction and Demolition Debris, Yard Waste
2) By Industrial Waste: Manufacturing Waste, Mining Waste, Energy Production Waste, Agricultural Waste
3) By Hazardous Waste: Chemical Waste, Biomedical Waste, Electronic Waste (E-Waste), Radioactive Waste
4) By Others: Organic Waste, Recyclable Materials (e.g., paper, plastic, metals), Specialty Waste (e.g., pharmaceutical waste, bulky waste), Construction and Demolition Recyclables
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What Trends Are Shaping The Waste And Recycling Market?
Major players in the waste and recycling market are emphasizing on digital modifications and automation, such as Low-code platforms, to improve operations and supply real-time data analysis for better decision-making and control of resources. Low-code platforms in waste recycling expedite and automate practices, amalgamate with present systems, and provide instantaneous insights, boosting operational effectiveness and adherence. For example, ISB Global Ltd., a UK-based software company, introduced the Waste & Recycling One (WR1) program in the United States in May 2024. The WR1 program systematizes and automates waste and recycling procedures, partnering with ERP systems like SAP to form a consolidated primary data source. It's constructed on the OutSystems low-code platform, which augments operational productivity, minimizes costs, and supersedes antiquated legacy systems without the necessity for new software integration. Additionally, it enhances compliance documentation by adjusting to regulatory shifts and providing real-time operation transparency.
Who Are the Key Players In The Waste And Recycling Market?
Major companies operating in the waste and recycling market are:
• Veolia Environnement S.A.
• Waste Management Inc.
• Remondis SE & Co. KG
• Republic Services Inc.
• Suez S.A.
• Waste Connections Inc.
• Clean Harbors Inc.
• Hitachi Zosen Corporation
• Stericycle Inc.
• Sociedad Anónima Industrias Celulosa y Papelera de Ávila
• Biffa plc
• Reworld Waste LLC
• Recology Inc.
• FCC Environment Limited
• Daiseki Co. Ltd.
• Urbaser S.A.
• Phoenix Technologies International Inc.
• Custom Polymers Inc.
• Biomedical Waste Solutions LLC
• Envision Plastics Industries LLC
• PolyQuest Inc.
• Landbell Group
• Verdeco Recycling LLC
• Bigbelly Inc.
• Valicor Environmental Services Inc.
What Is The Most Dominant Region In The Waste And Recycling Market?
North America was the largest region in the waste and recycling market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the waste and recycling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
