Global Industrial Waste
Management Market Key Insights
During the forecast period of 2023-2035, the global industrial waste
management market is expected to reach an estimated value of ~USD 2 trillion by
2035 by expanding at a CAGR of ~12%. The market further generated revenue of
~USD 800 billion in the year 2022. Major key factors propelling the growth of the
industrial
waste management market worldwide are the increment in industrial waste owing
to the surge in industrial set-ups and the environmental havoc caused by it.
Market Definition of Industrial Waste Management
Industrial waste is generated by industrial
activities in enormous amounts which can be any material that is useless during
the manufacturing process. This waste can be found in the form of scrap lumber,
liquid, gaseous, solid, oil, gravel, solvents, vegetable, chemicals, and
others. The industrial waste can be both toxic and non-toxic and can pollute
water, air, and soil in nearby areas. Industrial waste requires proper
classification and treatment to be eliminated thoroughly from the environment
and for that industries or government of every region has designed a proper
waste management or scrap removal system.
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Global Industrial Waste Management Market:
Growth Drivers
The growth of the
global industrial waste management
market can majorly be attributed to the rapid increase
in the air & and water pollution boosting the demand for industrial waste
management. Industrial waste administers toxic pollutants such as herbicides,
oils, pesticides, chemicals, and others into the water and other harmful
chemicals in gaseous form in the air. For instance, the annual rate of
wastewater dumped by the industry is anticipated to be around 350 to 450 MT.
Additionally, it was observed that nearly 82% of the wastewater flows without
any treatment into the environment. On the other hand, an escalation in the
cases of chronic respiratory diseases such as asthma, lung diseases, and others
owing to air pollution is further expected to hike the market growth over the
forecast period. As of 2020, air pollution accounted for more than 100,000
infant deaths in India alone while causing nearly 10% of death worldwide.
The global industrial waste management
market is also estimated to grow majorly on account of the
following:
·
Increment in water, soil,
and air pollution
· Escalated prevalence of chronic
respiratory disorders
· Rising cases of diarrhea,
cholera, and hepatitis A, owing to consumption of contaminated water
· Growth in industrialization
backed by the up-surged urbanization
· Presence of strict
government regulation associated with the dumping of industrial waste
Global
Industrial
Waste Management Market:
Restraining Factor
The management of industrial waste can be
very high-priced since it requires management procedures such as, landfill,
segregation, composting, and others. Furthermore, it requires skilled and
highly knowledgeable workforce to identify which items to be scraped and which can
be recycled. Hence, this factor is expected to be the major hindrance for the
growth of the global industrial waste
management market during the forecast period.
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Global Industrial Waste Management Market Segmentation
·
By Waste Type (Power Plant Waste, Construction & Demolition,
Manufacturing, Chemical, Agriculture, Mining, Oil & Gas, Nuclear, and
Others)
The chemical waste segment,
amongst all the other segments, is anticipated to garner the largest revenue by
the end of 2035. The growth of the segment can be attributed to the increasing
emission of chemical waste and higher requirements for its management since it
is categorized as hazardous waste that can be extremely harmful to humans and
the environment. For instance, industries produce approximately 450 million
tons of hazardous waste every year.
·
By Services (Collection, Incineration, Recycling, Landfill, and Others)
·
By End-User Industry (Chemical,
Primary Metals, Petroleum, Metal Mining, and Others)
·
By Region
The North America industrial waste management market is
anticipated to hold the largest market share by the end of 2035 among the
market in all the other regions. The growth of the market can be ascribed to
the rapid industrialization causing the high rate of industrial waste dumping, growing
awareness of pollution, and its negative impact on the environment and people’s
lives. It is observed that in the United States, more than 16,000 pounds of
plastic, food, and hazardous waste is generated per person while approximately
200 million tons of solid municipal waste is generated every year.
The market research
report on global industrial waste management
also includes the market size, market revenue, Y-o-Y growth, and key player
analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico,
Argentina, Rest of Latin America), Asia-Pacific
(China, India, Japan, South Korea, Singapore, Indonesia, Malaysia,
Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany,
France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland,
Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey,
Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia,
UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle
East and Africa).
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Key Market Players Featured in the Global Industrial Waste
Management Market
Some of the key players in the global industrial waste management market Daiseki Co., Ltd., Sembcorp Industries,
Amberwick Corporation, WM Intellectual Property Holdings, L.L.C., Quarry LLC, Veolia
Environnement SA, Republic Services, Inc., EnviroServ Waste, Management (PTY)
Ltd, Remondis SE & Co. KG, Clean Harbors, Inc., and others.
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