Dublin, May 01, 2024 (GLOBE NEWSWIRE) -- The "Recycling Facilities in the US - Industry Research Report" report has been added to ResearchAndMarkets.com's offering.
Recycling facilities continue to benefit from stabilization of macroeconomic conditions and higher commodity prices. The onset of the pandemic brought a massive surge in e-commerce sales as consumers were stuck at home and forced to make both discretionary and essential purchases online. Online purchases require more cardboard to deliver, leading to a surge in waste generation for the industry's largest recyclable. Acceleration in the prices of paper and plastic have caused revenue volatility in the industry, though, causing revenue to climb at a CAGR of 2.6% to an estimated $8.9 billion through the end of 2024, including an anticipated 2.6% boost in 2024.
Report Scope
- Market Estimates from 2014-2029
- Competitive Analysis, Industry Segmentation, Financial Benchmarks
- Incorporates SWOT, Porter's Five Forces and Risk Management Frameworks
Industry Statistics and Trends
- Recycling facilities are growing in popularity, driven by energy and cost savings. Surging commodity prices encourage consumers and businesses to recycle and purchase more recycled goods.
- High virgin plastic and paper prices spur demand for recycled materials. The pandemic contributed to a dip in virgin plastic and paper prices, threatening purchases of the industry's often-higher-priced materials.
- Densely populated areas are ideal for recycling facilities to locate. As consumer spending surges, pushing up purchases, households will generate more waste to be recycled.
- Specialization keeps market share concentration low. Customers are more likely to use facilities that offer the most services to save time and money.
The pandemic sparked demand for plastic and paper
- Amid pandemic-era lockdowns, consumers did most shopping online to avoid exposure to the virus, garnering a major boost in demand for cardboard boxes. Given that paper and paperboard make up over two-thirds of all recycled material, this boost in generated waste brought strong demand for recycling companies.
Recycling facilities benefit as the price of paper and plastic skyrockets
- The booming prices of commonly recycled commodities, including paper and plastic, has boosted revenue for less expensive materials produced by recycling facilities.
Various programs are set to boost recycling rates
- The continued investment in curbside recycling programs and drop-off programs will boost the efficiency of the recycling processing system. These investments will aid in getting people to recycle more by making recycling bins more available in their areas.
Market share concentration for the Recycling Facilities industry in the US is low, which means the top four companies generate less than 40% of industry revenue. The average concentration in the Administrative and Support and Waste Management and Remediation Services sector in the United States is 25%.
Economies of scale have significant benefits
- Recycling facilities can pass on costs to consumers relatively easily, as paperboard and plastic prices are fairly elastic and can shift in accordance with fluctuating operating expenses.
A selection of key companies mentioned in this report includes, but is not limited to:
- Waste Management, Inc.
- Republic Services, Inc.
- Waste Connections, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/qrvhnv
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