According to the research report, the global waste recycling services market size was valued at USD 56.14 billion in 2020 and is expected to reach USD 84.8 Billion By 2022, to grow at a CAGR of 5.4% during the forecast period.
Waste recycling is any recovery alternative by which waste materials are remade into substances, materials, and products, whether original or for other reasons. There are three types of recycling. Mechanical recycling indicates that plastics acquired from domestic or commercial disposal of industrial scrap are mechanically converted without altering their chemical structure to produce new materials. The second type is energy recycling. It involves converting plastic into thermal and electric energy by capitalizing through incineration on the heat power emancipated by these materials in the form of fuel. The third type is chemical recycling. In this method, plastics are reprocessed, and their chemical structure is altered to be utilized as raw materials for several industries.
There are several benefits of recycling like reprocessing paper and wood saves forests and trees. New trees can be planted, but virgin rainforests or ancient woodlands cannot be replaced once lost. Recycling plastic means generating less new plastic, which is unquestionably a good thing, mainly if it is being made from fossil fuel hydrocarbons. Recycling metals indicates a lesser requirement for hazardous damaging and expensive mining and removal of new metal ores.
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Top Market Players Are:
BioMedical Waste Solutions LLC
Covanta Holding Corporation
Daiseki Co. Ltd
Eurokey Recycling Ltd.
FCC Environment Limited
Hitachi Zosen Corporation
REMONDIS SE & Co. KG
Triple M Metal LP
Veolia Environnement S.A.
Waste Management Inc.
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Waste recycling services market: Growth leading factors
Concerns of rising waste management connected with growing waste disposal issues are anticipated to propel the demand for waste recycling services. The acquisition of stringent rules has pushed waste recycling research and development, which is imminent to drive market expansion in the forecast period. The advancement of several waste disposal methods and procedures has progressed from growing awareness about suitable waste disposal to conserving animal and human wealth.
The quintessential life cycle of the electronic product involves an introduction, product development, growth, maturity, and disposal. An electronic product arrives at a recycling stage because of the end of the recycling, technological progressions, and altering requirements of the consumer. Speedy advancements in technology cause new electronic products and improvised versions of prevalent products like televisions, laptops, and mobile phones. Likewise, the growing purchasing power of individuals causes a decline in shelf life. New varieties of mobile and alternative electronic products are being introduced every year. Thus discarding older versions by throwing them away and selling them through websites so that they can be reused.
The covid-19 pandemic has had an immense influence on the waste sector. As the pandemic was advancing, there was an imposition of lockdown in various countries. Municipal waste operators and public authorities had to speedily modify their waste management systems and plan of action for the situation.
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Waste recycling services market: Report Scope
Market Size 2020 Value
USD 56.1 billion
Market Outlook for 2028
USD 84.8 billion
Expected CAGR Growth
5.4% from 2021 – 2028
2021 – 2028
By Product, By Application, By Region
Biffa plc, BioMedical Waste Solutions, LLC, Clean Harbors, Inc, Covanta Holding Corporation, Daiseki Co., Ltd, Eurokey Recycling, Ltd., FCC Environment Limited, Hitachi Zosen Corporation, Northstar Recycling, REMONDIS SE & Co. KG, Republic Services, Stericycle, SUEZ, Triple M Metal LP, Urbaser, Veolia Environnement S.A., Waste Connections, Waste Management, Inc.
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Customized purchase options are available to meet your research needs.
Waste recycling services market: Key segmentation
Insight by product, application, and region
By product, the paper and paperboard segment spearheaded the market with a high market share. The factors were increased generation of paper waste from newspapers, packaging, and containers. Transforming consumer inclination and growth of the population has stimulated the development of the eCommerce industries expanding the demand for packaging. By application, the municipal segment led the market with a high market share. Municipalities are embracing policies of waste management that permit them to prohibit the pessimistic outcomes of waste.
By region, the market in North America is anticipated to make up for significant revenue share because of strict government regulations connected to plastic usage. Further, the attendance of the vast number of players functioning in the country and high investment in ingenious solutions is another factor anticipated to supplement the growth of the target market. The Asia Pacific is expected to quickly observe change because of excessive solid waste production from several end-use industries. Further, favorable business policies by the government and prominent players’ tendency toward advancing countries is another factor anticipated to reinforce the growth of the target market.
Browse the full “Waste Recycling Services Market Share, Size, Trends, Industry Analysis Report, By Application (Municipal, Industrial, Others); By Product; By Region; Segment Forecast, 2021 – 2028” Report at https://www.polarismarketresearch.com/industry-analysis/waste-recycling-services-market
Key highlights of the report
Substantial information on components approximated to impact the market growth and market share in the course of the forecast period is presented in this report
The report provides the existing scenario and growth prospects for the future in several geographical regions
The competitive landscape analysis of the market, as well as quantitative and qualitative information, is delivered
The SWOT analysis is carried out along with Porter’s five forces analysis
The detailed analysis offers an insight into the market, highlighting the opportunities and growth rate provided in the business
The market primarily depends on the product, application, and region
Waste recycling services market: By product
Paper & Paperboard
Bulbs, Batteries & Electronics
Waste recycling services market: By application
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