Industrial Waste Management Market - Global Industry Analysis

Industrial Waste Management Market

Industrial Waste Management Market Size, Share, Growth by 2030

Category: Energy & Mining Report Format : PDF Pages: 110 Report Code: ZMR-4726 Published Date: Sep-2019 Status : Published
Market Size in 2018 Market Forecast in 2025 CAGR (in %) Base Year
USD 133.55 Billion USD 199.67 Billion 6% 2018

Industrial Waste Management Market

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The global industrial waste management market valued USD 133.55 Billion in 2018 is expected to reach USD 199.67 Billion in 2025 at a CAGR of 6.0% between 2019 and 2025.

Industrial waste refers to the solid, liquid, and gaseous emissions, residual and unwanted wastes from an industrial operation. Industrial wastes account for around 50% share of the overall waste generated globally. Strategic investors from both, outside the industry as well as those within, including waste management are still in the process to understand which ones will prove economically viable, particularly at scale, and which will be best suited to particular situations.

Factors such as stringent regulations and increasing focus on energy and resource recovery are expected to fuel the growth of the market over the forecast years. In 2007, China’s MEP (Ministry of Environmental Protection) and the Ministry of Commerce announced that enterprises with serious environmental violations would be subjected to an export ban for one to three years. The two government bodies are expected to set up a database to collect information about exporters with poor environmental compliance records

Another regulation, EU policy on waste management, has set out some principles for the proper management of industrial waste. Those responsible for the generation of waste, and consequent adverse effects on the environment should be required to pay the costs of avoiding or alleviating those adverse consequences.

In spite of rising awareness regarding the usage of recycled products, practices such as the ineffective inspection, monitoring, and regulations for industrial waste in developing nations are anticipated to propel the growth of the industrial waste market over the forecast years. In developing countries, hazardous waste management systems lack a systematic approach to administer waste management programs; inability to effectively collect and manage wastes as well as to reduce the negative impacts of those activities. Also, there are inadequacies in the implementation of regulations associated with hazardous waste management due to fragmented responsibilities among government departments and local authorities.

Rising trend for the Increase in the purchase of recyclable products around the globe is expected to bolster the growth of industrial waste management market in the forecast timeline. Green consumers (consumers who are environment conscious) have been shown to be willing to pay a higher price for environmentally friendly products, which is a huge opportunity for companies as well as governments looking to make eco-friendly policy changes. Thus, the increasing numbers of consumers who prefer and are willing to buy eco-friendly products are creating an opportunity for businesses that are using eco-friendly or environmentally friendly as a component of their value proposition.

On the basis of service, industrial waste management market is segmented into collection, recycling, landfill, and incineration. Recycling is a resource recovery practice that refers to the collection and reuse of waste materials.  Recycling operations depend profoundly on production and consumption. Recycled waste is waste material reprocessed in a production process that diverts it from the waste stream, except reuse as fuel. Incineration is a disposal method in which solid organic wastes are subjected to combustion so as to convert them into residue and gaseous products. This method is useful for disposal of both municipal solid waste and solid residue from wastewater treatment

On the basis of type, the industrial waste management market is segmented into non-hazardous and hazardous. Toxic and hazardous waste are materials that can cause serious health problems if disposal is not handled correctly. Primarily, the high-volume of industrial hazardous waste is generated by industries such as chemical, petrochemical, etc. Small - and medium-sized industries that generate hazardous waste include hospital and health-care centers, electroplating and metal finishing shops, etc.                                                                                                               

The key players operating in the industrial waste management market are Clean Harbors, Calgon Carbon Corporation, Republic Services, Inc., Stericycle, Inc., Suez Environment, Remondis SE & Co. KG, Veolia Environnement, Waste Management, Inc., Casella Waste Systems, Inc., Heritage Environmental Services, LLC, among others.

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