Industrial Solid Waste Management Market size to exceed $1.1tn by 2026

Industrial Solid Waste Management Market size is expected to surpass USD 1.1 Trillion by 2026, as reported in the latest study by Global Market Insights, Inc.
 

The industrial solid waste management industry size is expected to witness robust growth with strong regulatory inclination towards catering the several ecological issues. Increasing penetration of large manufacturing facilities has exponentially raised the industrial waste generation statistics. This in turn has enhanced the complications towards effective collection, treatment and disposal processes. Hence, to improve existing efficiency across the value chain, market players are now involved in the implementation of various social enterprise business models in order to create more value for money. The inevitable development of industrial solid waste management on account of rapid economic transitions, particularly across developing economies will enhance the market growth substantially.

 

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Adoption of sustainable waste management practices will provide impetus to the North America ISW market growth

The North America industrial solid waste management market will witness significant growth owing to the presence of a robust industrial sector coupled with positive outlook toward enhancing sustainability across the industrial trash management value chain. Evolution from conventional waste dump & disposal practices to the implementation of advanced solutions to enhance sustainability across industrial solid waste management has augmented the industry growth. In addition, introduction of stringent mandates pertaining to industrial solid waste management initiatives/programs by respective governments has further proliferated the market outlook. For instance the U.S. Environmental Protection Agency (EPA) introduced the Resource Conservation and Recovery Act aimed toward regulating & controlling the waste generated across industrial, commercial & residential sectors.
 

Increasing utilization of plastic for merchandise packaging will drive the industrial solid waste management market demand

Rising output levels of manufacturing industry has increased the utilization of plastic packaging for the transportation goods in the local, regional and global commerce. Abrasion resistance, and high puncture cracking are some of the key underlying factors favoring the material demand across industrial packaging. In addition, ongoing advancements in the packaging industry including smart packaging, integrated with sensor & communication technologies have further fueled the demand for plastics. The growing use of these materials have raised concerns toward effective & sustainable disposal of plastic scrap.
 

Open dumping of plastic scrap pose a significant challenge owing to limited waste treatment solutions. Air borne emissions, water leaching, and soil erosion, are the negative effects associated with incineration & landfilling of plastic wastes respectively. Therefore, recycling of such material is the only option to ease the harmful effects, thereby complementing the market statistics. Intensifying efforts toward increasing sustainability have enabled the policy makers to implement dedicated industrial waste management solutions. For instance, the European Union launched its plastic waste strategy in 2018, aimed toward making all the discarded packaging material recyclable by 2030.
 

Browse key industry insights spread across 450 pages with 784 market data tables & 26 figures & charts from the report, “Industrial Solid Waste Management Market Statistics By Source (Equipment Manufacturing, Mining, Food Processing & Textiles, Others), By Treatment (Open Dumping, Disposal, Service {Landfill, Recycling, Incineration/Combustion, Composting & AD}), By Material (Paper & Paperboard, Metals, Plastics, Food, Textiles, Others), Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026”in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/industrial-solid-waste-management-market
 

Rising emission levels and growing environmental degradation will increase the market share for waste disposal

Mismanaged trash from industrial facilities has a high level of health risk and is decrementing significantly owing to intensifying environmental apprehensions associated with improper industrial solid waste management. Open dumped waste volumes attract various disease vectors and can result in the contamination of land, water, air and local neighborhoods. High energy conservation, low emission discharge and improved public health, are few of the key advantages associated with appropriate disposal of industrial waste products & materials, thereby propelling the market trends.
 

Surging investments toward the expansion of new food processing facilities accelerating the industrial solid waste management industry growth

Industrial solid waste management market from food processing industry is anticipated to witness robust growth owing to the rising investments toward the construction of new food processing centres. The demand for processed and synthetic food is witnessing prominent demand on a global scale. However, growing leftover volumes during the food processing & manufacturing process has intensified concerns toward minimizing by product generation. In addition, inclination toward generation of additional revenue stream by conversion of waste into animal feed and biogas production will accelerate the demand for effective industrial solid waste management practices over the forecast timeline.
 

Prominent industrial solid waste management market players include Green Conversion Systems, China Everbright International Ltd, Waste Management, Inc, Biffa Group, Hitachi Zosen Corporation, Cleanaway, Waste Connections, and Sims Metal Management amongst others. The restructuring of the trash collection & disposal practices & business model innovations are key strategies being pursued by prominent market players to consolidate leading market share across the industry.
 

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