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The waste recycling services market size is estimated to grow by USD 18.98 billion at a Compound annual growth rate (CAGR) of 5.67% between 2022 and 2027. The growth of the market depends on several factors, such as the increasing number of partnerships and collaborations, the campaign and advertisement for clean earth, and the high investment by governments.
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Our researchers studied the data for years, with 2022 as the base year and 2023 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 waste recycling services 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 27.83 billion in 2017. 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 37% to the growth by 2027. 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 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 Waste Recycling Services Market is witnessing significant shifts driven by various factors. Consumer awareness regarding environmental impact has surged, prompting a rise in garbage recycling initiatives. The pandemic accentuated the need for proper waste collection activities, with the surge in disposable gloves, masks, and respirators posing challenges. Movement restrictions affected waste recycling industry operations, leading to reevaluation of policies.
Panic buying of essentials like toilet papers and cleaning products heightened concerns about single-use plastics. Advanced digital technologies are increasingly penetrating recycling services, yet challenges persist in managing poor-quality recycled substances. Legislation, funding, and technical support are crucial for effective waste disposal, safeguarding animal and human health. With urban population growth and rising disposable incomes, the penetration of recycling services in household and commercial spaces becomes imperative to combat plastic pollution and ensure sustainable development.
The market growth and forecasting report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Waste Recycling Services Market Scope |
|
Market Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.67% |
Market growth 2023-2027 |
USD 18.98 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.27 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
North America at 37% |
Key countries |
US, China, Japan, Germany, and the UK |
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., 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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market trends and analysis 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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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