Waste Recycling Services Industry Overview
The global waste recycling services market size to be valued at USD 81.3 billion by 2028 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% during the forecast period. The rising consumer awareness pertaining to the benefits of garbage recycling is anticipated to have a positive impact on the market growth over the forecast period. During the COVID-19 pandemic, impositions of lockdown gave rise to a new type of waste known as pandemic waste, which includes gloves, masks, and respirators along with their packaging, which increased the waste generated due to the disruptions in the waste collection activities.
Ease in the movement restriction by the governments of various countries has formulated policies to tackle the waste, which is expected to complement the market growth. The pandemic has led to the panic buying of essentials, such as food, toilet papers, and cleaning products, which increased the waste generated during the lockdowns and also increased the demand for single-use plastics in the U.S. The pandemic has disrupted the U.S. waste recycling industry owing to the limitations on commercial activities.
Gather more insights about the market drivers, restraints, and growth of the Global Waste Recycling Services market
Rising concerns regarding waste management, coupled with increasing challenges pertaining to waste disposal, are expected to drive the demand for waste recycling services over the forecast period. The adoption of rigorous laws has accelerated research and development initiatives in waste recycling, which is expected to promote market growth over the forecast period. Increasing awareness about effective waste disposal for the preservation of animal and human health has resulted in the development of numerous disposal methods and procedures.
The presence of high amounts of hazardous chemicals in the trash, such as metals and salts, has compelled the waste generating companies to dispose of or recycle the waste in a timely way. Urban population growth and increased disposable incomes are predicted to drive the domestic housing sector across the world. As a result, upgrading the housing sector will improve the penetration of these recycling services, which, in turn, will boost the market growth over the forecast period.
Browse through Grand View Research's Bulk Chemicals Industry Research Reports.
Recycling Equipment Market - The global recycling equipment market size was estimated at USD 851.8 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 5.8% from 2020 to 2027.
Solvent-based Plastic Recycling Market - The global solvent-based plastic recycling market size was valued at USD 599.75 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2030.
Waste Recycling Services Market Segmentation
Grand View Research has segmented the global waste recycling services market on the basis of product, application, and region:
Waste Recycling Services Product Outlook (Revenue, USD Million, 2017 - 2028)
- Paper & Paperboard
- Metals
- Plastics
- Glass
- Food
- Bulbs, Batteries & Electronics
- Yard Trimmings
- Others
Waste Recycling Services Application Outlook (Revenue, USD Million, 2017 - 2028)
- Municipal
- Industrial
- Others
Waste Recycling Services Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Market Share Insights:
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
June 2021: Triple M Metal LP acquired Peterborough Iron & Metal (PIM), in order to expand its international reach in Ontario.
Key Companies profiled:
Some prominent players in the global Waste Recycling Services market include
- Eurokey Recycling, Ltd.
- Northstar Recycling
- Triple M Metal LP
- Amdahl Corp.
- Interface, Inc.
- Covanta
- Epson, Inc.
- Collins & Aikman
- Xerox Corp.
- Fetzer Vineyards
- Biffa
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