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Industrial Solid Waste Management Market Size By Source (Mining, Equipment Manufacturing, Food Processing & Textiles), By Treatment (Open Dumping, Disposal), By Material (Paper & Paperboard, Metals, Plastics, Food, Glass), & Forecast, 2023-2032
- Report ID: GMI4582
- Published Date: Feb 2023
- Report Format: PDF
Industry Statistics
Industrial Solid Waste Management Market size exceeded USD 997 billion in 2022 and is projected to expand at 2% CAGR between 2023 and 2032.
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Escalating public health concerns triggered by improper practices of industrial waste disposal are set to fuel industry revenues over the next ten years. Growing industrial solid waste and its unregulated disposal have severely impacted the health of communities across the planet and jeopardized the delicate ecological balance of affected areas. This has prompted several world government agencies to take necessary initiatives and make significant investments towards the treatment and disposal of both hazardous and non-hazardous solid industrial wastes.
Back in 2022, the World Bank approved USD 20 million in financing to help ASEAN countries reduce the marine plastic pollution generated by industries on their shores to strengthen ecological preservation efforts and promote more sustainability initiatives in the private sector.
| Report Coverage | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | 997.08 Billion (USD) |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 2% |
| 2032 Value Projection: | 1,217.71 Billion (USD) |
| Historical Data for: | 2019 to 2022 |
| No. of Pages: | 615 |
| Tables, Charts & Figures: | 1,076 |
| Segments covered: | Source, Treatment, Material |
| Growth Drivers: | |
| Pitfalls & Challenges: |
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Inadequate budgets and inefficient waste collection projects to hold back industry growth
Despite gaining commendable traction from surging industrial projects and waste generation in a post-COVID global economy, key challenges such as insufficient budgets for developing effective waste collection, treatment, disposal, and storage plants are likely to hold back the industry progression. Moreover, the absence of a strict financial regulatory framework, poor strategic planning, and inadequate waste collection and segregation efforts in emerging economies is creating a daunting barrier for the market by promoting the open dumping of industrial waste.
High demand for sustainable waste management solutions to boost recycling segment size
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Based on treatment, the disposal service subsegment of recycling amassed over 25% of the industrial solid waste management market share in 2022. Recyclable solid waste usually comprises of paper, plastics, and wood material among others. Rising focus on the implementation of technology-integrated waste/trash recycling solutions is slated to augment the market size. The technology integration is also going hand-in-hand with the emerging sustainability trend, where more emphasis is being put on employing eco-friendly practices.
Increasing popularity of packaged goods to drive equipment manufacturing segment share
In terms of source, the equipment manufacturing segment will observe nearly 1.5% growth rate during the forecast period. Flourishing domestic and global trade, coupled with widescale consumption of plastic packaging for the transportation of raw materials and finished goods, has elevated the output levels of the equipment manufacturing industry. This apart, shifting consumer preference toward manufactured goods and products in regions such as the Asia Pacific, have also fueled a significant rise in industrial solid waste quantities, effectively fostering more business growth through the segment.
Increasing metal wastes to outline the material segment scenario
The industrial solid waste management market valuation from metals segment is anticipated to surpass USD 2 billion by 2032. Increasingly consumer-centric lifestyles have paved the way for a growing issue of metal wastes. Rising disposal of demolition scraps and electronic wastes, generated from machines, appliances, consumer electronics, and office equipment, has created a demand for solid metal waste management solutions. Improper disposal of some of these metals wastes can prove extremely hazardous to both humans as well as the environment, which generates a further impetus for adequate waste management facilities.
Supportive policy framework to aid industry expansion across North America
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North America industrial solid waste management market held around 29% revenue share in 2022. Going forward, regional growth is primarily expected to come from the presence of a favorable regulatory landscape in the region. In addition, rapid technological improvements and growing inclination towards more innovation in waste management are further paving the way for more initiatives. Meanwhile, the adoption of stringent waste disposal norms and standards, and escalating rollouts of favorable regulatory policies such as the Polluter-pays principal practice are defining the business scenario over the long-term.
Partnerships to remain the key growth strategy for industry players
The major companies operating in the industrial solid waste management market include Recology, Covanta Holding Corporation, OMNI Conversion Technologies, Inc., Wheelabrator Technologies, Inc., China Everbright Environment Group Limited, Biffa, Clean Harbors, Inc., Sims Limited, Keppel Seghers, Stericycle, Veolia, Waste Management, Inc., Hitachi Zosen Corporation, SUEZ, Cleanaway, and Waste Connections.
These firms have been actively working on strengthening their global foothold by implementing numerous growth measures such as partnerships, mergers & acquisitions, and product line expansion among others. For instance, in January 2022, Biffa, a leading waste management company based out of the UK, inked a multi-million-pound a year partnership with Esterform Packaging, a manufacturer of plastic bottles for alcohol, carbonated drinks, and cooking oil.
Through this deal, the company agreed to utilize over 6,000 tonnes of recycled plastic annually at its facilities located in Worcestershire and Leeds, UK.
COVID-19 and its impact on the industry trends
The industrial solid waste management sector underwent significant setbacks during the COVID-19 pandemic. Halted manufacturing processes and frozen supply chains caused by the unprecedented lockdowns and strict regulatory norms led to a drastic reduction in the generation of commercial and industrial waste. Besides, the increased emphasis on containing and slowing down the pace of viral transmission limited workers' activities at waste management facilities.
Furthermore, the heightened anticipations about an economic slowdown and declining commodity prices augmented the prospects of increased reliance on cheaper virgin raw material instead of recycled feedstock. This resulted in a slowdown in the recycling of plastic and other materials, which further impacted business progression during the crisis.
The industrial solid waste management market research report includes in-depth coverage of the industry with estimates & forecast in terms of “MT” & “USD Million” from 2019 to 2032, for the following segments:
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Market Insights, By Source
- Equipment Manufacturing
- Mining
- Food Processing & Textiles
- Others
Market Insights, By Treatment
- Open Dumping
- Disposal
- Landfill
- Recycling
- Incineration/Combustion
- Composting & AD
Market Insights, By Material
- Paper & Paperboard
- Metals
- Plastics
- Food
- Glass
- Others
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- France
- Germany
- Italy
- Sweden
- Netherlands
- Poland
- Romania
- Russia
- Bulgaria
- Asia Pacific
- China
- Australia
- India
- Japan
- South Korea
- Thailand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Middle East & Africa
- Qatar
- UAE
- Nigeria
- Saudi Arabia
- South Africa
- Latin America
- Brazil
- Argentina
- Chile
- Mexico
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