Press release
Waste Recycling Services Market Set to Reach $83.19 Billion by 2029 with 0.0623947149561146% Yearly Growth
Waste Recycling Services Market Size
Increased consciousness about plastic pollution is fueling the expansion of the waste recycling services market. The accumulation of synthetic plastic materials in the environment to a point where they jeopardize flora, fauna, and human populations, is what is known as plastic pollution. The degradation of the earth results in numerous challenges such as global warming and drastic climate shifts. In an effort to curb plastic usage and impart knowledge about plastic pollution, governments across the globe are implementing new schemes and regulations. For example, in March 2022, India's Union environment ministry put forth a proposal to outlaw the production, utilization, sale, import and management of certain single-use plastic products nationwide from 2022. The implementation of such policies is amplifying awareness about pollution, subsequently propelling the market's growth.
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What is the projected compound annual growth rate (CAGR) of the waste recycling services market from 2025 to 2034, and what factors influence it?
The industry for waste recycling services has seen robust growth in the past few years. It's forecasted to expand from $61.64 billion in 2024 to $65.3 billion in 2025, witnessing a compound annual growth rate (CAGR) of 5.9%. The historic period's growth is a result of heightened consciousness regarding environmental sustainability, strict waste management laws, an increase in waste generation, increased focus on preserving resources, and regulatory constraints to minimize landfill usage.
There is a strong prediction about the significant expansion of the waste recycling services market in the coming years, with an expected worth of $83.18 billion in 2029 and a compound annual growth rate (CAGR) of 6.2%. The anticipated expansion throughout the forecast period can be credited to factors such as the adoption of circular economy strategies, governmental waste reduction and recycling initiatives, amplified demand for recycled materials, and the expansion of the e-waste recycling services. There is also a rise in urbanization. The prospective trends within this period are the advancement of recycling technologies, the incorporation of robotics and automation in recycling premises, innovation regarding construction and demolition waste recycling, and the introduction of intelligent waste management systems.
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How are the latest trends influencing the growth of the waste recycling services market?
The waste recycling services market is being transformed by innovative technology. New technological breakthroughs have made it possible to convert waste into energy, with industries harnessing their waste and converting it into viable energy using biogas. Metal remnants from vehicles and other similar objects can be extracted with Plasma arc recycling technology using a super-heated plasma torch. Taking an example, Colas Group, a civil engineering organization from France, in November 2022, rolled out a recycling network for construction waste aimed at ramping up the production of recycled materials. Colas has built 160 facilities for recycling construction waste in France, introducing services like Valormat and Ecotri which emphasize on stringent quality inspection and traceability of processed materials. These services enable construction firms to source natural or recycled materials, featuring innovative products like "VALOR BLOC" concrete blocks made from recycled concrete, and also offer a dual-freight option for effortless disposal and collection of recycled items.
What are the major segments of the waste recycling services market and their role in driving growth?
The waste recycling services market covered in this report is segmented -
1) By Waste Type: Compost And Food Waste, Glass And Fiberglass, Metal Scraps, Waste Paper, Other Types
2) By Service: Collection Service, Disposable Service
3) By Application: Municipal, Agricultural, Construction, Industrial, Other Applications
Subsegments:
1) By Compost And Food Waste: Organic Waste Composting, Anaerobic Digestion
2) By Glass And Fiberglass: Container Glass Recycling, Fiberglass Recycling
3) By Metal Scraps: Ferrous Metal Recycling, Non-Ferrous Metal Recycling
4) By Waste Paper: Cardboard Recycling, Mixed Paper Recycling
5) By Other Types: Electronic Waste, Plastics Recycling
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Which regions are key players in the growth of the waste recycling services market?
North America was the largest region in the waste recycling services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the waste recycling services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the waste recycling services market?
Major companies operating in the waste recycling services market include Advanced Disposal Services Inc., Casella Waste Systems Inc., China Recycling Development Co. Ltd., Clean Harbors Inc., Covanta Holding Corp., Eurokey Recycling Ltd., Interface Inc., Kayama Corp., Northstar Recycling Company, Xerox Corporation, Remondis SE & Co. KG., Republic Services Inc., Rubicon Global, Dowa Eco-System Co. Ltd., Fetzer Vineyards, Kcarp Ltd., Tsuneishi Kamtecs Corp., Waste Management Inc., Veolia Environnement S. A., Suez Environnement S. A., Stericycle Inc., Waste Connections Inc., GFL Environmental Inc., US Ecology Inc., Heritage-Crystal Clean Inc., BioHiTech Global Inc., Renewi plc, Biffa plc, FCC Environment UK Limited, ECO Green Equipment
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What Is Covered In The Waste Recycling Services Global Market Report?
•Market Size Forecast: Examine the waste recycling services market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the waste recycling services market for a structured understanding.
•Key Players Overview: Analyze major players in the waste recycling services market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the waste recycling services market.
•Segment Contributions: Evaluate how different segments drive overall growth in the waste recycling services market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the waste recycling services market.
•Industry Challenges: Identify potential risks and obstacles affecting the waste recycling services market.
•Competitive Landscape: Review strategic developments in the waste recycling services market, including expansions, agreements, and new product launches.
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