The global industrial waste management market size was worth around USD 1,077.40 million in 2023 and is predicted to grow to around USD 1,832.30 million by 2032 with a compound annual growth rate (CAGR) of roughly 6.20% between 2024 and 2032.
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Market Overview for Industrial Waste Management
Industrial waste encompasses residual and undesirable wastes, as well as solid, liquid, and gaseous emissions, that result from industrial operations. Approximately 50% of the global waste stream is comprised of industrial debris. Strategic investors from both within and outside the industry, including waste management, are currently in the process of determining which investments will be economically viable, particularly at scale, and which will be most appropriate for specific situations.
Over the forecast years, the market is anticipated to experience growth due to factors such as stringent regulations and an increased emphasis on energy and resource recovery. In 2007, the Ministry of Commerce and the Ministry of Environmental Protection (MEP) of China jointly declared that enterprises that committed significant environmental violations would be prohibited from exporting for a period of one to three years. It is anticipated that the two government bodies will establish a database to gather data regarding exporters with inadequate environmental compliance records.
Another regulation, the EU policy on waste management, has established certain principles for the correct management of industrial waste. The costs of avoiding or alleviating the adverse consequences of waste generation and its subsequent adverse effects on the environment should be borne by those responsible for its generation.
Growth Factors in the Industrial Waste Management Market
The industrial waste management market is expected to experience substantial growth in the future years, as a result of the increasing global emphasis on energy and resource recovery. This increased emphasis on the utilization of refuse materials is anticipated to be a critical factor in the market’s growth during the forecast period.
It is becoming increasingly clear that the global demand for water, food, and energy is expected to experience continuous and substantial growth as we turn to the future. Nevertheless, this expansion is in stark contrast to a decline in the reserves of non-renewable elements, including zinc, copper, and phosphorus.
Increased investments in resource recovery and utilization within the sectors of food, waste, and sanitation are urgently required due to this pressing issue. By prioritizing these sectors, we can effectively confront the obstacles presented by diminishing reserves and establish a more sustainable future. Resource recovery offers a remarkable opportunity to extract value from resources that may initially appear to be discarded, in addition to the commendable objective of minimizing food waste throughout the entire food chain.
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The Global Industrial Waste Managementg Market is segmented based on product, application and region
Global Industrial Waste Managementg Market: Product Segment Analysis
● Non-Hazardous
● Hazardous
Global Industrial Waste Managementg Market: Application Segment Analysis
● Machinery & Equipment
● Food & Drug
● Metallic Minerals
● Electronics
● Plastic & Chemicals
● Textile
● Others
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The Global Industrial Waste Managementg market profiles key players such as:
● Clean Harbors
● Calgon Carbon Corporation
● Republic Services Inc.
● Stericycle Inc.
● Suez Environment
● Remondis SE & Co. KG
● Veolia Environnement
● Waste Management Inc.
● Casella Waste Systems Inc.
● Heritage Environmental Services LLC
The current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa is encompassed by regional segmentation.
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