Industrial Waste Management Market Overview:
Industrial Waste Management Market Size was valued at USD 962.9 Billion in 2022. The Industrial Waste Management Market industry is projected to grow from USD 1046.6 Billion in 2023 to USD 2040.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.70% during the forecast period (2023 - 2032). Increasing public awareness of the negative environmental effects of industrial waste and advancements in industrial waste management techniques are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Industrial Waste Management Market Trends
Growing Number of Industries around the World to Boost Market Growth
Market CAGR for industrial waste management is being driven by the growing number of industries around the world. Globally, urbanization and industrialisation are on the rise. Waste management awareness is quickly growing in the sector, as are technological developments in recycling facilities. In India, roughly 60% of trash was treated in 2020, compared to 28.57% in 2018. Aerospace and defence, automotive, electronics, oil and gas, food and beverage, biotechnology, and other industries are expanding their industrial verticals. Industrial waste creation is increasing worldwide as the number of industries expands. This growing waste is a major issue for people and governments globally. This creates a huge global requirement for appropriate waste management.
In addition, as consumers become more aware of the harmful effects of industrial waste on the environment and public health, industries are under increasing pressure to implement more sustainable waste management procedures. As a result, there is a growing need for waste management services that may assist businesses in reducing their environmental footprint and promoting responsible waste management practices. As a result, waste management firms are investing in innovative technologies and procedures in order to address the growing demand for environmentally friendly waste management solutions. Furthermore, businesses that practice sustainable waste management can profit from improved brand recognition and increased consumer loyalty, which can help them acquire a competitive advantage in the market.
Government regulations are one of the key drivers of the industrial waste management market. Governments around the world are increasingly enacting legislation and policies targeted at decreasing industrial waste and supporting sustainable waste management techniques. For example, the European Union has established various directives targeted at minimizing trash output and boosting recycling and reuse. Similarly, in the United States, the Environmental Protection Agency (EPA) has adopted a number of rules aimed at minimizing hazardous waste and promoting appropriate waste management practices.
These rules have resulted in a large increase in demand for industrial waste management services such as garbage collection, transportation, treatment, and disposal. As a result, waste management firms are investing in innovative technologies and procedures in order to address the growing demand for environmentally friendly waste management solutions. Companies that embrace sustainable waste management techniques can benefit from cost savings and greater operational efficiency in addition to meeting regulatory obligations.
Overall, the growing emphasis on environmentally friendly waste management procedures is projected to fuel growth in the industrial waste management market.
Industrial Waste Management Market Segment Insights:
Industrial Waste Management Waste Type Insights
The Industrial Waste Management Market segmentation, based on Waste Type includes construction & demolition waste, manufacturing waste, chemical waste, mining waste, oil & gas waste, agriculture waste, nuclear waste and others. The construction and demolition waste segment is one of the fastest-growing categories in the industrial waste management market. This is due to a variety of reasons, including increased urbanization, construction activity, and policies aimed at minimizing trash output and promoting recycling and reuse. As a result, waste management firms are investing in innovative technologies and procedures to address the growing need for sustainable waste management solutions in this area. Furthermore, the construction and demolition waste management industry has tremendous potential for recycling and recovery of valuable materials, which can help reduce waste and foster a circular economy.
Industrial Waste Management Service Insights
The Industrial Waste Management Market segmentation, based on Service, includes landfill, recycling, incineration. In 2022, the landfill segment held a significant share. Environmental consciousness is increasing all throughout the world. A landfill is a pit filled with solid garbage. It is small in size and is maintained and covered for final disposal. Landfills help to prevent groundwater pollution because they ultimately harm the environment and human life. The landfill, when properly managed, provides an efficient disposal option. In 2018, approximately 146.1 million tonnes of municipal solid waste scrap were landfilled. The world's need for landfills is soaring, which is driving growth during the forecast period.
Figure 1: Industrial Waste Management Market, by Service, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Industrial Waste Management Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Industrial Waste Management Market area will dominate this market, due to increasing awareness of environmental issues and the necessity for sustainable waste management procedures.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Industrial Waste Management Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Industrial Waste Management Market accounts for the second-largest market share because of stringent restrictions aimed at minimizing waste generation and supporting environmentally sound waste management techniques. Further, the German Industrial Waste Management Market held the largest market share, and the UK Industrial Waste Management Market was the fastest growing market in the European region
The Asia-Pacific Industrial Waste Management Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to increased economic activity, which eventually leads to an increase in rubbish output and a rise in demand for waste management. Moreover, China’s Industrial Waste Management Market held the largest market share, and the Indian Industrial Waste Management Market was the fastest growing market in the Asia-Pacific region.
Industrial Waste Management Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Industrial Waste Management Market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Industrial Waste Management industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Industrial Waste Management industry to benefit clients and increase the market sector. In recent years, the Industrial Waste Management industry has offered some of the most significant advantages to medicine. Major players in the Industrial Waste Management Market, including SembCorp, Reclay Group, SA Waste Holding Pvt Ltd., Suez Environnement, Stericycle Inc., Himark BioGas Inc., and Clean Harbor and others, are attempting to increase market demand by investing in research and development operations.
Suez SA is a utility business located in France that primarily engages in the water and waste management industries. The company's headquarters are in La Défense, Paris. All of the group's brands became SUEZ in 2015. Formerly an operating subsidiary of Suez, the company was split off as a separate organization on July 22, 2008, as part of the merger that formed GDF Suez (now Engie). Engie retained its 35% interest as the company's major stakeholder. Suez Environnement's stock price increased by 40% on the first day of trading. September 2022, SUEZ, Royal Bafokeng Holdings (RBH), and African Infrastructure Investment Managers (AIM) completed the acquisition of EnviroServ Proprietary Holdings Limited and its subsidiaries. Suez will be able to consolidate its position as a leading international municipal and industrial waste management firm as a result of this acquisition. This will also allow Suze to improve its market position across the African continent.
Veolia Environnement S.A., also known as Veolia, is a French multinational corporation that operates in three major service and utility areas historically administered by public authorities: water management, waste management, and energy services. Until January 2019, it also controlled transportation services through its subsidiary Veolia Transport (after Transdev). Veolia will employ 220,000 people in 58 countries by 2022. Its revenue for that year was €42,885 billion. It is traded on the Euronext Paris exchange. Its headquarters are located in Aubervilliers. June 2022, Veolia suggested the sale of Suez's UK waste business and continues to create the worldwide champion of ecological change. The initiative seeks to be an ecological transformation by bringing together Veolia and the majority of Suez's overseas businesses.
Key Companies in the Industrial Waste Management market include
- Veolia Environmental
- EnviroServ Waste
- Reclay Group
- SA Waste Holding Pvt Ltd.
- Suez Environnement
- Stericycle Inc.
- Himark BioGas Inc.
- Clean Harbor
Industrial Waste Management Industry Developments
July 2023- A Singapore-based waste management and upcycling company, Blue Planet Environmental Solutions, has raised USD5 million in fresh funding, per the filings with the Accounting Corporate and Regulatory Authority (ACRA) accessed by DealStreetAsia's Data Vantage. The newest funding came from Exacta Asia Investment II LP, a USD 250-million private equity fund concentrated on small and medium-sized enterprises managed by Singapore-based Mizuho Asia Partners. The filings pointed out that the private equity fund provided USD5 million in exchange for 667,126 ordinary shares in the organization with offices in India, Britain, Vietnam, and Malaysia. ACRA filings imply that the equity funding attained so far in a round and the general funding round could be bigger and have other components, such as debt. DealStreetAsia has reached out to Blue Planet for confirmation. The newest funding followed the USD 1.9 million investment the waste management company gained from private equity firm Kaizenvest in June and another investor in February.
July 2023- Aerofloat has played a crucial part in assisting the Australian plastic recycling industry clean and reuse its wastewater. The plastics recycling industry has flourished in Australia since the National Plastics Plan was enacted in 2021. The General Manager of wastewater treatment of Aerofloat, Michael Anderson, stated that the plan's goal was to guarantee Australia becomes a foremost participant in the global network for recycling plastics into consumer products. Aerofloat has been operating in the plastics recycling industry for eight years, developing major wash water and wastewater solutions that fulfill the particular criteria of multiple companies and councils across the eastern board. The firm has achieved awards for its innovative designs and is now the industry's go-to wastewater engineering firm in Australia. Following the National Plastics Plan proclamation, Coca-Cola Europacific Partners, Asahi Beverages, Cleanaway, and Pact Group formed a joint venture known as Circular Plastics Australia.
April 2022,Frank Solutions Limited has purchased Viridor's landfill and landfill gas operations. The agreement, which was signed in late March 2022, comprised the operation and management of 44 facilities across the United Kingdom. Viridor will be able to continue growing its core energy recovery and polymer processing businesses while progressing its objectives to achieve net zero by 2040 as a result of the sale.
November 2021,Waste Management Inc. announced plans to invest USD $200 million in recycling infrastructure in 2022, bringing the company's total investment in new and renovated recycling facilities to more than USD 700 million since 2018. With the demand for recycled content goods increasing, the investment will allow WM to capture more recycled materials and expand customer access to recycling.
October 2021,REMONDIS International GmbH acquired 100% of Veolia Recycling Solutions Nordic AB. REMONDIS is improving its market position in Northern Europe and significantly increasing its commercial activities in the Swedish market as a result of this acquisition. The purchase also signals the company's entry into the Swedish industrial cleaning market.
Industrial Waste Management Market Segmentation:
Industrial Waste Management Market By Waste Type Outlook
- Construction & Demolition Waste
- Manufacturing Waste
- Chemical Waste
- Mining Waste
- Oil & Gas Waste
- Agriculture Waste
- Nuclear Waste
Industrial Waste Management Market By Service Outlook
Industrial Waste Management Regional Outlook
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Latin America
Market Size 2023
USD 2040.0 Billion
Compound Annual Growth Rate (CAGR)
Market Forecast Period
Market Forecast Units
Value (USD Billion)
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Waste Type, Service, and Region
North America, Europe, AsiaPacific, and the Rest of the World
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled
Veolia Environmental, EnviroServ Waste, SembCorp, Reclay Group, SA Waste Holding Pvt Ltd., Suez Environnement, Stericycle Inc., Himark BioGas Inc., and Clean Harbor.
Key Market Opportunities
Government Regulations Are Strict.
Key Market Dynamics
Technological advancements in industrial waste management
Frequently Asked Questions (FAQ) :
The Industrial Waste Management Market size was valued at USD 962.9 Billion in 2022.
The global market is projected to grow at a CAGR of 8.70% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are SembCorp, Reclay Group, SA Waste Holding Pvt Ltd., Suez Environnement, Stericycle Inc., Himark BioGas Inc., and Clean Harbor.
The landfill category dominated the market in 2022.
The construction & demolition waste had the largest share in the global market.
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