New York, NY, July 12, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Global Waste Recycling Services Market Share, Size, Trends, Industry Analysis Report, By Application (Municipal, Industrial, Others); By Product; By Region; Segment Forecast, 2023 - 2032” in its research database.
“As per the latest research analysis, the global waste recycling services market size/share will be valued at roughly USD 63.46 Billion in 2022, and its revenue is projected to reach about USD 104.34 Billion by 2032. The market is forecasted to expand at a compound annual growth rate of approximately 5.00% between 2023 and 2032.”
What is Waste Recycling Services? How Big is Waste Recycling Services Market Size & Share?
- Overview
Various industries utilize mechanical or chemical processes to transform the materials into new products or resources, often resulting in significant waste generation. Waste recycling services are required for waste management to reduce the negative effects of waste on the environment, human health, and aesthetics. These services include managing and reducing the impact of waste generated by various sectors, such as industrial, municipal, organic, biomedical, biological, household, and radioactive wastes.
These services encompass collecting, transporting, treating, and disposing of waste, along with tracking and regulating the waste management process. Municipal solid waste, generated through industrial, commercial, and residential activities, comprises a significant part of waste management. The growing consumer awareness regarding the benefits of garbage recycling is one of the prominent factors driving the waste recycling services market size.
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Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 110+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Players Are:
- Biffa plc
- BioMedical Waste Solutions LLC
- Clean Harbors Inc
- Covanta Holding Corporation
- Daiseki Co. Ltd
- Eurokey Recycling Ltd.
- FCC Environment Limited
- Hitachi Zosen Corporation
- Northstar Recycling
- REMONDIS SE & Co. KG
- Republic Services
- Stericycle
- SUEZ
- Triple M Metal LP
- Urbaser
- Veolia Environnement S.A.
- Waste Connections
- Waste Management Inc
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Prominent Growth Driving Factors
- Benefits of waste recycling services: These services help to maintain natural resources, minimize energy consumption, and reduce greenhouse gas emissions caused by the extraction and production of raw materials. These benefits are boosting the waste recycling services market demand.
- Environmental support: Waste recycling services offer advantages for both the environment and the economy. It helps to reduce pollution and lower the demand for landfill space, increasing the longevity of existing landfills. These factors are accelerating the market growth.
- Strict government policies and regulations: The implementation of strict government laws and regulations for waste management, recycling, and penalties for improper disposal by many nations is further expected to flourish the market expansion. These policies enable people and businesses to develop recycling strategies and utilize recycling services to comply with the law.
Top Report Findings
- Growing demand for waste recycling across the globe, coupled with various environmental benefits offered by these services, drives market growth.
- The market is primarily segmented based on form, product, manufacturing process, end-use, and region.
- North America is likely to experience significant growth.
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Recent Trends Influencing the Market
Public engagement and participation in recycling initiatives: Rising number of recycling initiatives, such as education and awareness campaigns promoting the benefits of recycling and the need for proper waste segregation, are some of the major waste recycling services market trends positively influencing the industry growth. Also, people are taking greater initiative to use recycling services and help businesses that prioritize sustainable trash management.
Segmental Analysis
- The paper & paperboard segment is projected to grow at the fastest rate
Based on product waste recycling services market segmentation, the paper & paperboard category is anticipated to show the fastest growth during the forecast period as more firms are emphasizing sustainability and eco-friendliness. For many years, paper and paperboard industry has been the major end-user of recycled materials. These products offer several benefits, such as better quality, reduced costs, and reduced environmental impact. Thereby, rising demand for recycled paper and paperboard products is anticipated to enhance segment growth over the forecast period.
Moreover, the growing availability of recycled materials due to the significant rise in the amount of waste paper and cardboard being collected for recycling is propelling the segment's growth. The large availability of recycled materials has made it easier and more cost-effective for various companies to utilize recycled paper and paperboard in their products.
- The municipal segment held the largest market share during the forecast period
Based on application, the municipal category witnessed the major waste recycling services market share due to the growing amount of municipal waste produced worldwide, which has led to an increase in the demand for waste recycling services. Another factor supporting the segment growth is the rising knowledge about the advantages of recycling among governments and municipalities. Implementation of government regulations and laws to boost recycling and lower the amount of waste sent to landfills is further anticipated to accelerate the segment expansion. Moreover, a surge in urbanization and industrialization in developing nations is contributing to segment growth.
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Waste Recycling Services Market: Report Scope
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 104.34 Billion |
| Market size value in 2023 | USD 67.26 Billion |
| Expected CAGR Growth | 5.00% from 2023 - 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Biffa plc, BioMedical Waste Solutions, LLC, Clean Harbors, Inc, Covanta Holding Corporation, Daiseki Co., Ltd, Eurokey Recycling, Ltd., FCC Environment Limited, Hitachi Zosen Corporation, Northstar Recycling, REMONDIS SE & Co. KG, Republic Services, Stericycle, SUEZ, Triple M Metal LP, Urbaser, Veolia Environnement S.A., Waste Connections, Waste Management, Inc. |
| Segments Covered | By Product, By Application, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographical Overview
North America: Waste recycling services are gaining traction in the region because more people and businesses find waste recycling beneficial as it saves natural resources. Also, In North America, demand for these services is anticipated to increase significantly over the next several years as a result of a number of factors. Increasing knowledge of environmental problems is another factor supporting the waste recycling services market growth. People are becoming conscious of the negative effects of waste on the environment and thus taking measures to reduce their environmental footprint.
Furthermore, organic waste recycling is another factor that propels the growth of waste recycling services in North America. Organic waste, which includes food and garden waste, contributes significantly to greenhouse gas emissions and other environmental problems. Recycling organic waste can help minimize these releases while generating beneficial compost and other soil amendments that can be utilized to enhance soil health and decrease the demand for artificial fertilizers.
Browse the Detail Report “Global Waste Recycling Services Market Share, Size, Trends, Industry Analysis Report, By Application (Municipal, Industrial, Others); By Product; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://polarismarketresearch.com/industry-analysis/waste-recycling-services-market
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Recent Developments
- In May 2022, Northstar Recycling Company, LLC acquired Complete Recycling, LLC. The purchase would allow the former to provide increased services to their current customers while also improving the combined business' potential to serve additional consumers and partners via a more scaled platform.
- In September 2021, Eurokey Recycling invested about £15 million in a supermarket recycling line. This development is intended to retrieve and recycle flexible plastics and films from the supermarket and retail sectors.
Polaris Market Research has segmented the Global Waste Recycling Services Market report based on Product, Application, and Region:
The Report Answers Questions Such as
- What is the market size and forecast of the industry?
- What are the inhibiting factors and impact of key factors shaping the market during the forecast period?
- Who are the key players operating in this market?
- Which application/end-user or product type may seek incremental growth prospects?
- What are the most significant challenges the market could face in the future?
- What growth strategies are the players considering to stay in the market?
By Product Outlook
- Paper & Paperboard
- Metals
- Plastics
- Glass
- Food
- Bulbs, Batteries & Electronics
- Yard Trimmings
- Others
By Application Outlook
- Municipal
- Industrial
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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