NEWARK, Del, July 13, 2023 (GLOBE NEWSWIRE) -- The Waste Recycling Services Market is predicted to be valued at US$ 60 billion in 2023 and US$ 110 billion by 2033. Over the projection period, sales in the waste recycling services market are expected to increase at a CAGR of 6.2%. With the rapid growth of electronic devices, the proper disposal and recycling of electronic waste present a significant opportunity. Specialized e-waste recycling services can extract valuable materials and safely handle hazardous components, meeting the demand for responsible e-waste management.
The rising awareness of food waste's environmental impact creates opportunities for waste recycling services to develop efficient processes for diverting food waste from landfills. Technologies such as anaerobic digestion and composting can transform food waste into energy or nutrient-rich compost. As plastic pollution gains global attention, advanced recycling technologies, such as chemical recycling and depolymerisation, offer new opportunities for waste recycling services to tackle plastic waste more effectively and recover valuable resources.
Integrating digital technologies and data analytics in waste recycling services enables better tracking, sorting, and optimizing waste streams. Real-time data collection and analysis provide insights for improved operational efficiency and informed decision-making. Collaboration between waste recycling service providers, industries, governments, and communities is growing. To drive sustainable waste management practices, public-private partnerships and industry collaborations foster innovation, resource sharing, and knowledge exchange.
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Governments worldwide are implementing EPR regulations, shifting responsibility to producers for the end-of-life management of their products. This trend creates opportunities for waste recycling services to work closely with producers, facilitating product design for recyclability and managing the recycling process.
Key Takeaways from the Waste Recycling Services Market:
- According to FMI, the United States is leading the growth in the North American region, exhibiting a CAGR of 6.1%.
- As per Future Market Insights, the construction industry is expected to dominate the product type with a CAGR of 6.3%
- As per FMI, the tire and rubber segment is projected to experience a CAGR of 6.5% in the coming years.
“The waste recycling services market continues to witness significant growth driven by increasing environmental consciousness, stringent regulations, and technological advancements, presenting lucrative opportunities for industry players”, remarks an analyst at FMI.
How Key Players are Revolutionizing the Waste Recycling Services Market?
Key players in the waste recycling services market are spearheading a revolution by introducing innovative approaches to waste management. These industry leaders drive change through advanced technologies, customized recycling programs, and sustainable practices. Players invest in state-of-the-art recycling facilities and sorting systems to efficiently process various waste streams, including plastics, paper, metals, and electronic waste.
Moreover, these key players offer comprehensive recycling solutions, including waste audits, consulting services, and waste-to-energy solutions, enabling businesses to optimize their recycling efforts. By focusing on circular economy principles and promoting awareness about environmental sustainability, these players are transforming the waste recycling services market and fostering a greener, more sustainable future.
Key Players in the Market:
- Eurokey Recycling, Ltd.
- Northstar Recycling
- Triple M Metal LP
- Amdahl Corporation
- Interface, Inc.
- Battery Council International (USA)
- Epson, Inc.
- Collins & Aikman
- Xerox Corp.
- Hewlett-Packard
- Fetzer Vineyards
- Zanker Road Landfill
- Rubicon Global
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Product Portfolio
- Eurokey Recycling, Ltd. offers a comprehensive product portfolio for sustainable waste management solutions. Their range includes recycling containers, waste compactors, balers, sorting systems, and collection services, enabling businesses to effectively manage and optimize their waste streams while promoting environmental stewardship.
- Northstar Recycling provides a diverse product portfolio focused on sustainable recycling solutions. Their offerings include recycling consulting services, recycling equipment, waste audits, waste-to-energy solutions, and customized recycling programs, empowering businesses to minimize waste, increase recycling rates, and achieve their sustainability goals.
More Insights Available
Future Market Insights offers an unbiased analysis of the waste recycling services market, providing historical data from 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the waste recycling services market, the report is segmented based on application (Metallurgical, Chemical, Agriculture and Forestry, Textile, Power and Energy, and Construction Industry), product type (Iron and steel, Automotive Recycling, Battery Recycling, Compost & Food Waste, Computer & Electronics, Glass & Fibreglass, Liquids Oils & Chemicals Minerals, Multi-Material Collection, Waste Paper, Scrap Plastic, Tire & Rubber, Wood Recycling, Waste Disposal & Collection, Used Collectible Items, Used Commercial Goods, Used Consumer Items and Equipment) across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and Middle East & Africa).
Key Segments Analyzed in the Waste Recycling Services Industry Survey
By Application:
- Metallurgical
- Chemical
- Agriculture and Forestry
- Textile
- Power and Energy
- Construction Industry
By Product Type:
- Iron and Steel
- Automotive Recycling
- Battery Recycling
- Compost & Food Waste
- Computer & Electronics
- Glass & Fibreglass
- Liquids Oils & Chemicals Minerals
- Multi-Material Collection
- Waste Paper
- Scrap Plastic
- Tire & Rubber
- Wood Recycling
- Waste Disposal & Collection
- Used Collectible Items
- Used Commercial Goods
- Used Consumer Items
- Equipment
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and the Pacific
- East Asia
- Middle East & Africa
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About the Services and Utilities Division at Future Market Insights
The services and utilities team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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