New York, United States , May 03, 2023 (GLOBE NEWSWIRE) -- The Global Waste Recycling Services Market Size is to grow from USD 61.76 billion in 2022 to USD 107.51 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.7% during the forecast period.
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Waste recycling services are crucial for managing and mitigating the environmental impact of waste generated by human activities. These services encompass the collection, processing, and transformation of recyclable materials into new products or resources, reducing the need for virgin materials and conserving natural resources. Collection methods may include curb side pickup, drop-off centers, or specialized programs for specific waste types. At processing facilities, recyclable materials are sorted, cleaned, and prepared for recycling, with contaminants removed to ensure quality. Mechanical or chemical methods are used to transform the materials into new products or resources. Waste recycling services are essential for sustainable waste management, addressing global environmental challenges such as pollution, resource depletion, and climate change.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on "Global Waste Recycling Services Market Size, Share, and COVID-19 Impact Analysis, By Product (Paper & Paperboard, Metals, Plastics, Glass, Food, Bulbs, Batteries & Electronics, Yard Trimmings, and Others), By Application (Municipal, Industrial, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032." Get Detailed Report Description Here:
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The bulbs, batteries & electronics segment is expected to grow at a higher CAGR of 6.1% over the forecast period.
Based on the product, the bulbs, batteries & electronics segment is projected to be the fastest-growing sector in the waste recycling services market This is attributed to increasing awareness about the environmental impact of electronic waste, stringent regulations mandating proper recycling and disposal, growing technological advancements leading to higher e-waste generation, and rising adoption of circular economy principles and sustainability initiatives. The demand for specialized waste recycling services in this segment is driven by the need for efficient and sustainable disposal of bulbs, batteries, and electronics to mitigate environmental pollution and promote responsible waste management practices. The rapid growth of this segment reflects the growing recognition of the importance of responsible e-waste management in the modern era.
The industrial segment is expected to grow at a CAGR of around 6.3% during the forecast period.
Based on the application, the industrial segment is anticipated to be the fastest-growing sector in the waste recycling services market. This is due to the increasing focus on sustainability, circular economy principles, and environmental regulations, which are driving the demand for efficient waste management solutions in industrial sectors. Additionally, industrial waste streams can be significant in terms of volume and complexity, requiring specialized recycling services. The growth of the industrial segment underscores the need for effective waste recycling services to mitigate environmental impact and promote sustainable practices in industrial sectors.
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Asia-Pacific is predicted to grow at a CAGR of 7.4% over the projected period.
Based on region, the Asia-Pacific region is expected to be the fastest-growing market for waste recycling services due to several factors. Rapid industrialization and urbanization in countries like China, India, and Southeast Asian nations are resulting in increased waste generation, leading to a higher demand for waste recycling services. Moreover, increasing environmental awareness, government regulations promoting waste recycling, and growing corporate sustainability initiatives are driving the adoption of waste recycling services in the region. Additionally, rising consumer awareness about sustainable waste management practices and the growing demand for eco-friendly products and services are further boosting the demand for waste recycling services in the Asia-Pacific region. Overall, the combination of favorable demographic factors, increasing environmental concerns, and supportive government policies is expected to drive the rapid growth of the waste recycling services market in the Asia-Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global waste recycling services market include Waste Management, Inc., Republic Services, Inc., Veolia Environnement S.A., SUEZ Environnement S.A., Clean Harbors, Inc., Stericycle, Inc., Waste Connections, Inc., Advanced Disposal Services, Inc., Covanta Holding Corporation, Casella Waste Systems, Inc., GFL Environmental Inc., Remondis SE & Co. KG, Waste Pro USA, Inc., Rumpke Consolidated Companies, Inc., and Recology Inc.
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