Global waste recycling services market was worth USD 53.71 million in 2019. It is projected to grow at a compound annual rate (CAGR of 5.2%) between 2020 and 2027. The market is expected to grow due to increased awareness by consumers and industry about the sustainable benefits of recycling waste.
The major factors driving product demand growth over the forecast period are rapid industrialization, rapid urbanization and technological developments. Research and development in recycling services has been encouraged by stringent regulations. This is expected to be a driving force for the market over the next few decades.
The U.S. EPA estimates that approximately 23,000- 75,000 sanitary sewers in the United States overflow each year. The U.S. EPA estimates that there will be an increase in the number of users connecting to centralized treatment systems. This is expected to result in up-grading existing facilities and construction of new wastewater treatment plants, which is expected, over the forecast period, to increase waste recycling rates.
There are many disposal techniques and methods that can be used to dispose of waste. Companies must dispose of the waste promptly due to the high levels of metals and other dangerous compounds found in it.
To match the operational expertise of the private sector, governments around the globe are adopting the PPP model. Market growth is expected to be boosted by government-led initiatives, which will in turn lead to increased demand for waste recycling services in the future.
The growth in urban populations and rising disposable incomes will likely drive domestic housing sector growth. This will lead to a rise in the number of people using these services to recycle their waste.
The market for waste recycling services can be divided into metals, paper and paperboard, paperboard, paperboard, paper and paperboard, plastics, paper, food, bulbs and batteries, yard trimmings and other products. With a market share of 41.4%, the paper and paperboard segment was dominant in 2019. Metals accounted for the second largest market share in 2019. Metal recycling is more efficient than producing virgin metal.
Plastics will experience the fastest CAGR at 7.1% between 2020 and 2027. The Organization for Economic Co-operation and Development, (OECD) estimates that more than 12% plastic waste is recycled annually. Global plastic waste volumes are expected reach 460 million tonnes by 2030. This is a reason why a variety of industry players are moving away from the use once, discard approach. It will create opportunities for service providers in the future.
E-waste is responsible for 2% of America’s trash in landfills, but it accounts for more than 70% overall toxic wastes. E-waste is the fastest growing waste stream in both developed and developing countries. To ensure a sustainable future, manufacturers are increasing their focus on recycling, disposing of, and reusing.
The market can be divided into three types of applications: municipal, industrial and other. With 60.2% of the revenue, the municipal segment was the most lucrative in 2019. The demand for municipal services in developing countries, such as India, Turkey and China, will rise due to growing urban populations, favorable government policies and increased investment.
The fastest growing segment in the forecast is the industrial application segment. This segment has wide potential for recycling services in many industries including paper, pulp, chemical, and food and beverage, as well as refineries and mining. Segment growth is expected to be supported by technological advances, rapid urbanization, and increasing numbers of production units over the forecast period.
Each country has a municipality that handles residential waste. Private companies face significant challenges in gaining access to the commercial and residential sectors. These companies, however, are recycling the waste they generate through public-private partnerships.
Rising investment in different industries and strict regulations regarding discharges from these industries are two of the main factors driving demand for waste recycling services in industrial applications around the world. The forecast period will also see a rise in demand for organic and agro-based products.
Asia Pacific was the dominant market for waste recycling services in 2019, with a share of 39.5%. This market is expected to continue growing over the forecast period. China is one the most important emerging nations in the world. The IMF predicts that China's growth will be 5.6% by 2020. China's economic growth is expected to be affected by U.S.-China trade tensions that are growing more severe and the recent outbreak COVID-19. These events will have a negative impact on the future growth of the industrial sector.
India is a major market for these services due to its rapid industrialization, high population growth and increased waste generation over the past few years. Over the forecast period, industry growth will be encouraged by positive economic growth.
The increase in global population and the rapid industrialization of emerging economies to meet consumer demand has led to a rise in solid waste generation by the manufacturing sector over recent decades. Market growth will be stimulated by the U.S. EPA's implementation of many regulations.
Germany is the world's most efficient recycler, with South Korea, Austria and Wales following closely. These countries all recycle over 52% of their municipal garbage. The U.S., on the other hand, has a recycling rate that is 34.3%. This will likely increase due to the increased awareness generated by green revolutionists and governments as well as nonprofit organizations.
Only a few companies offer services like vendor agnostic, products and equipment for recycling machinery. These companies aim to increase their customer base and provide personalized services to retain customers. To receive special projects, companies can also enter into public-private partnerships with the government.
Most publicly traded companies are vertically integrated throughout the supply chain. They provide waste collection, transportation and disposal as well as recycling services. This allows companies to save money and increase their profit margins. The following are some of the most prominent players in the market for waste recycling services:
Eurokey Recycling, Ltd.
Northstar Recycling
Triple M Metal LP
Epson, Inc.
Collins & Aikman
Xerox Corp.
Hewlett-Packard
Fetzer Vineyards
Interface, Inc.
Battery Council International (USA).
Amdahl Corporation
Rubicon Global
Zanker Road Landfill
Up Market Research published a new report titled “Waste Recycling Services Market research report which is segmented by Product (Paper & Paperboard, Plastics, Metals), by Application (Industrial, Municipal), By Players/Companies Amdahl Corporation, Rubicon Global, Triple M Metal LP, Northstar Recycling, Fetzer Vineyards, Xerox Corp, Interface Inc, Battery Council International (USA), Epson Inc, Zanker Road Landfill, Collins & Aikman, Hewlett-Packard, Eurokey Recycling Ltd”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Waste Recycling Services Market Research Report |
By Product | Paper & Paperboard, Plastics, Metals |
By Application | Industrial, Municipal |
By Companies | Amdahl Corporation, Rubicon Global, Triple M Metal LP, Northstar Recycling, Fetzer Vineyards, Xerox Corp, Interface Inc, Battery Council International (USA), Epson Inc, Zanker Road Landfill, Collins & Aikman, Hewlett-Packard, Eurokey Recycling Ltd |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 236 |
Number of Tables & Figures | 166 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Product (Paper & Paperboard, Plastics, Metals), by Application (Industrial, Municipal).
Waste Recycling Services Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Waste Recycling Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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