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The waste recycling services market size is estimated to grow by USD 21.1 billion at a Compound annual growth rate (CAGR) of 5.95% between 2023 and 2028. The market is experiencing significant growth due to various driving factors. Notably, the formation of strategic partnerships and collaborations among industry players is bolstering market expansion. Additionally, intensive campaigns and advertisements advocating for a cleaner earth have raised public awareness, leading to increased demand for recycling services. Governments' substantial investments in waste management infrastructure and initiatives further fuel the market's growth. These elements collectively contribute to the robust development of the market.
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The Market is a significant industry that focuses on the collection, treatment, and disposal of electronic waste (e-waste) and other types of waste. Tech products, such as mobile devices, have become an integral part of modern life, leading to a surge in e-waste generation. Planned obsolescence, the deliberate shortening of a product's lifespan, contributes to this issue. However, the informal sector, consisting of informal processors, poses challenges to proper e-waste disposal. Haphazard dumping of e-waste can lead to contamination of nature and harm human health. Harmful toxins like mercury, lead, cadmium, and brominated flame retardants are present in e-waste and can cause diseases. Authorized channels, such as Saahas Zero Waste, emphasize the importance of e-waste recycling through the dismantling and recovery of valuable materials like plastic, metal, insulators, trays, and fencing posts. This process is crucial for the environment and human health. The recycling process involves treatment to remove harmful substances, followed by recovery of materials. The recovered materials can be used to manufacture new tech products, reducing the need for raw materials and promoting a circular economy. It is essential to ensure that e-waste recycling is carried out in a safe and environmentally friendly manner. Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
One of the main components of the global market is partnerships and collaborations as they facilitate organizations to pool resources, expertise, and capabilities to address the complex challenges of waste management and recycling. For instance, In August 2023, DS Smith sold four of its UK recycling depots to Veolia ES (UK) Ltd.
Moreover, On December 07, 2020, Lyondell Basell and SUEZ together acquired a Belgium-based plastic recycling company called TIVACO. With this acquisition, quality circular polymers (QCP) will increase their manufacturing capacity for recycled materials to approximately 55,000 tons per year. Hence, such partnerships are positively impacting the market which in turn will drive the market growth and trends during the forecast period.
There has been a significant increase in demand for electronic waste (e-waste) recycling services over the past few years due to various factors. Electronic waste mainly comprises discarded electronic devices and equipment, including computers, smartphones, televisions, and appliances. In addition, these kinds of waste constitute hazardous materials such as lead, mercury, cadmium, and brominated flame retardants.
Moreover, the improper disposition of such wastes can leach into the soil and water resulting in environmental contamination and long-term ecological damage. As a result, there is an increase in demand for recycling of these wastes as it prevents toxins from harming the environment. Hence, such factors are positively impacting the market which in turn will drive the market trends during the forecast period.
There is a significant cost associated with the collection, and transportation of recyclables to processing facilities, especially in rural or less densely populated areas. In addition, the collection of recyclables from homes, businesses, and recycling drop-off points can incur high costs, mainly in areas with low population density or when recycling bins need to be serviced frequently.
Moreover, the cost of transporting these materials to recycling facilities can also add to the overall costs. Sorting and removing contaminants add extra costs to the recycling process as this process is highly essential as it leads to contamination. Hence, such factors are negatively impacting the market which in turn will hinder the market growth during the forecast period.
The municipal segment is estimated to witness significant growth during the forecast period. There is an increase in demand for waste recycling services from municipalities due to several environmental, economic, and social factors. There is an increasing emphasis on understanding the environmental impact of waste disposal in landfills and incineration in the municipality segment.
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The municipal segment was the largest segment and was valued at USD 29.10 billion in 2018. The main advantages of recycling are that it minimizes the need for landfills, conserves resources, reduces energy consumption, and lowers greenhouse gas emissions. In addition, it significantly contributes to the conservation of natural resources, including wood, metals, and minerals. Another significant benefit of recycling is that it needs less energy compared to producing goods from raw materials. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
Based on product, the segment is classified into paper and paperboard, metals, plastics, glass, and others. There is an increasing popularity of recycling paper waste as it provides several environmental, economic, and social benefits. There is an increasing focus on more environmentally conscious, and recycling paper waste as it helps to reduce the requirement for virgin pulp, which, in turn, conserves forests, minimizes water consumption, and reduces energy usage and greenhouse gas emissions associated with paper production. As a result, several packaging companies are incorporating recycled materials into their products and packaging, fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 50% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. Another region offering significant growth opportunities to market players is APAC. There is increasing adoption of circular economy principles, focusing on the reduction, reuse, and recycling of materials in APAC. In addition, there is a rising awareness of environmental issues and the impact of waste on ecosystems across APAC countries.
As a result of such awareness, it has fuelled the support for recycling and sustainable waste management practices. Furthermore, there is rapid urbanization leading to increased waste generation which in turn is resulting in the increasing demand for efficient waste management and recycling services. Hence, there is a growing investment in waste management infrastructure, including recycling facilities and collection systems which is driving the market growth in APAC during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Biffa Plc: The company offers waste recycling services for Plastic recycling, Food, and Green waste processing, Aggregate and soil treatment, and Bulk Liquid treatment.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Casella Waste Systems Inc., Clean Harbors Inc., Covanta Holding Corp., Environ India, FCC SA, GFL Environmental Inc., Northstar Recycling Co. Inc., Recology Inc., Reconomy UK Ltd., Remondis SE and Co. KG, Rumpke Consolidated Co. Inc., SMS Envocare Ltd., SUEZ SA, URBASER SA, Veolia Environnement SA, Waste Connections Inc., Waste Management Inc., Waste Pro USA Inc., and Interface Inc.
Technavio's market growth analysis report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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Smart Waste Management Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, Canada, Germany, France, UK - Size and Forecast
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Waste recycling services play a crucial role in mitigating the environmental impact of Tech products, which often suffer from planned obsolescence. The informal processing of e-waste, common in developing countries, poses risks to nature and human health due to harmful toxins. Authorized channels, such as Saahas Zero Waste and Producer Responsibility Organizations, promote Extended Producer Responsibility, ensuring proper e-waste disposal through reverse logistics chains. Consumers can request pickup of their IT and consumer e-waste at collection centers. Mobile devices, including smartphones and laptops, are major contributors to e-waste. Haphazard dumping of these devices can lead to contamination, necessitating dismantling in the informal sector, where workers are exposed to diseases.
Moreover, the market landscape depends on the Consumer e-waste, E-waste management companies, Waste materials, Timber, Economic security, Air pollution, Water pollution, Incinerators, Waste reduction. Waste management recycling services recover valuable materials like plastic, metal, mercury, insulators, trays, and fencing posts from e-waste. These materials can be treated and transformed into new Tech products, reducing the need for extracting natural resources and decreasing greenhouse gas emissions. The recycling process also helps preserve the environment by conserving natural resources. In conclusion, waste recycling services play a vital role in managing e-waste, ensuring the proper disposal of harmful materials, and recovering valuable resources for reuse. By prioritizing authorized channels and adhering to Extended Producer Responsibility guidelines, we can minimize the negative impact of Tech products on the environment and human health.
Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.95% |
Market growth 2024-2028 |
USD 21.1 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.24 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 50% |
Key countries |
US, China, Germany, UK, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Biffa Plc, Casella Waste Systems Inc., Clean Harbors Inc., Covanta Holding Corp., Environ India, FCC SA, GFL Environmental Inc., Interface Inc., Northstar Recycling Co. Inc., Recology Inc., Reconomy UK Ltd., Remondis SE and Co. KG, Rumpke Consolidated Co. Inc., SMS Envocare Ltd., SUEZ SA, URBASER SA, Veolia Environnement SA, Waste Connections Inc., Waste Management Inc., and Waste Pro USA Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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