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Global Waste Recovery And Recycling Market Projected to Surpass $193.17 Billion by 2029 with 10.8% Annual Growth
Waste Recovery And Recycling Market
Which drivers are expected to have the greatest impact on the over the waste recovery and recycling market's growth?
The upward trend in waste production is anticipated to drive the expansion of the waste recovery and recycling market in the coming years. Waste creation pertains to the generation or accumulation of waste matter as a byproduct of various activities. These encompass industrial processes, residential consumption, and commercial processes, including everything from solid and liquid waste to gaseous materials generated throughout the production, consumption, or disposal of commodities and services. The surge in waste production can be attributed to factors such as population growth, escalating consumption rates, urban development, and increased goods output. Waste recovery and recycling methodologies tackle escalating waste levels by repurposing matter, curbing waste volume destined for landfills and, ultimately, preserving resources via reuse and recycling. For example, according to the United Nations Environment Programme, a UN agency based in Kenya, the production of municipal solid waste is projected to rise from 2.1 billion metric tons in 2023 to 3.8 billion metric tons by 2050. Thus, the increase in waste production essentially propels the expansion of the waste recovery and recycling market.
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What growth opportunities are expected to drive the waste recovery and recycling market's CAGR through 2034?
The market size of waste recovery and recycling has seen a quick expansion in the last few years. It is predicted to escalate from $115.26 billion in 2024 to $128.06 billion in 2025, incorporating a compound annual growth rate (CAGR) of 11.1%. Factors contributing to the historical period growth include a surge in environmental consciousness, regulatory directives, escalation in landfill expenses, scarcity of resources, societal demands for sustainable practices, and initiatives for corporate social responsibility.
The market for waste recovery and recycling is anticipated to expand significantly in the upcoming years, reaching a size of $193.17 billion in 2029, with a compound annual growth rate (CAGR) of 10.8%. The forecast period's growth is attributed to various factors including strict government regulations, increasing customer demand for eco-friendly products, an emphasis on the principles of the circular economy, enhancements in waste management facilities, a rise in green technology investments, and a heightened awareness of the effects of climate change. Key trends in the forecast period encompass the development of sophisticated sorting technologies, surge in electronic waste recycling, use of compostable materials, proliferation of automated waste management systems, creation of localised recycling facilities, advancement of circular economy strategies, and increased use of artificial intelligence in waste sorting and management.
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What are the most significant trends transforming the waste recovery and recycling market today?
Prominent companies in the waste recovery and recycling sector are employing innovative robotic systems, such as AI-powered waste sorting robots, to boost effectiveness in material division, augment sorting precision, and refine the overall recycling procedures. These sophisticated robotic systems, armed with AI technologies, are engineered to automate the function of dividing and classifying waste materials. They employ an amalgamation of machine learning, sensor technologies, and computer vision. For example, in February 2024, ZenRobotics, a tech company based in Finland, introduced ZenRobotics 4.0. This next-generation waste sorting robot utilizes forefront AI and machine learning technologies to augment the efficacy and exactness of waste segregation and recycling operations. ZenRobotics 4.0 is targeted at improving the effectiveness and precision of waste sorting by utilizing cutting-edge AI and machine learning technologies to better segregate and process recyclable waste.
Which key market segments comprise the waste recovery and recycling market and drive its revenue growth?
The waste recovery and recyclingmarket covered in this report is segmented -
1) By Type: Metal, Plastic, Glass, Textiles, Organic Waste
2) By Collection Method: Curbside Collection, Drop Off Centers, Buy-Back Centers, Other Collection Methods
3) By Process: Collection, Processing, Disposal
4) By Application: Industrial, Commercial, Residential, Agricultural
5) By End-User: Recycling, Reuse, Energy Recovery, Landfill
Subsegments:
1) By Metal: Ferrous Metals, Non-Ferrous Metals, Precious Metals, E-Waste Recycling
2) By Plastic: PET (Polyethylene Terephthalate), HDPE (High-Density Polyethylene), PVC (Polyvinyl Chloride), LDPE (Low-Density Polyethylene), Polypropylene (PP), Polystyrene (PS)
3) By Glass: Clear Glass, Colored Glass, Mixed Glass, Container Glass, Flat Glass
4) By Textiles: Clothing Recycling, Fabric Recycling, Carpet Recycling, Textile Waste from Manufacturing
5) By Organic Waste: Food Waste, Yard Waste, Agricultural Waste, Green Waste Recycling
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Which region dominates the waste recovery and recycling market?
North America was the largest region in the waste recovery and recycling market in 2024. The regions covered in the waste recovery and recycling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the waste recovery and recycling market?
Major companies operating in the waste recovery and recycling market are Veolia Environnement S.A., Kimberly-Clark Corporation, Waste Management Inc., Novelis Inc., Ecolab Inc., Republic Services Inc., Waste Connections Inc., GFL Environmental Inc., Clean Harbors Inc., Evoqua Water Technologies LLC, Reworld Waste LLC, Casella Waste Systems Inc., Recology Inc., Rumpke Consolidated Companies Inc., Viridor Ltd, FCC Environment Limited, EnviroServ Waste Management Ltd, Merrick & Company, RoadRunner Recycling Inc., Norpac LLC, Wheelabrator Technologies Holdings Inc., Lakeshore Recycling Systems LLC
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What Is Covered In The Waste Recovery And Recycling Global Market Report?
•Market Size Forecast: Examine the waste recovery and recycling market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the waste recovery and recycling market for a structured understanding.
•Key Players Overview: Analyze major players in the waste recovery and recycling market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the waste recovery and recycling market.
•Segment Contributions: Evaluate how different segments drive overall growth in the waste recovery and recycling market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the waste recovery and recycling market.
•Industry Challenges: Identify potential risks and obstacles affecting the waste recovery and recycling market.
•Competitive Landscape: Review strategic developments in the waste recovery and recycling market, including expansions, agreements, and new product launches.
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