The global industrial waste management market is estimated to grow at CAGR of ~8% over the forecast period, i.e., 2022-2030. The market is segmented on the basis of end-user industry, into chemical, primary metals, petroleum, metal mining, and others, out of which, the chemical segment is estimated to hold the largest share throughout the forecast period, on the back of increasing need for safe disposal of the waste from chemical industries, as this waste can be toxic and highly reactive.
On the basis of services, the market is segmented into collection, incineration, recycling, landfill, and others, out of which, the collection segment is foreseen to gain the largest share in terms of revenue during the forecast period. The amount of industrial waste that needs to be disposed is increasing, and as collection is the first step of waste management, this segment is anticipated to garner the highest revenue share.
Research Nester published a report titled “Industrial Waste Management Market: Global Demand Analysis & Opportunity Outlook 2030″ which delivers detailed overview of the global industrial waste management market in terms of market segmentation by services, end-user industry, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The growth of the global industrial waste management market can be attributed to the growing need to efficiently and safely manage waste from industries. Industrial waste includes chemicals, ashes, toxic gases, concrete, scrap metals, and solvents, among others. This waste can be highly dangerous and can cause air, water, and soil pollution, if not disposed correctly, which is why, industrial waste management is a major concern for governments all over the world. Various government initiatives and regulations to reduce and recycle industrial waste, along with growing public awareness is estimated to boost the growth of the market.
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Regionally, the global industrial waste management market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in the North America region is estimated to garner largest share over the forecast period owing to the presence of various industries in the region, including construction, automotive, oil & gas, and chemical industries, backed by industrial development and urbanization. Moreover, increasing waste generation, and the stringent government regulations to curb the industrial waste generation, is estimated to boost the market growth.
The Growing Need for Proper Waste Disposal is Estimated to Boost the Market Growth
More than 55% of the global industrial waste is disposed openly in the nature, out of which around 80% is in the form of wastewater that flows back to oceans.
Industrial waste contaminates the environment with toxic byproducts, if not disposed efficiently, which is why, industrial waste management system is required. Earlier, little attention was paid on waste management, but with up-surge in awareness amongst the people and government policies on industrial waste disposal, the adoption of waste management is increasing. This is estimated to boost the market growth.
However, lack of responsibility on the part of industrialists is expected to operate as the major restraint to the growth of global industrial waste management market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global industrial waste management market which includes company profiling of 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, and Clean Harbors, Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global industrial waste management market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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