Global Waste Recycling Services Market Size, Share, and COVID-19 Impact Analysis, By Product (Paper & Paperboard, Metals, Plastics, Glass, Food, Bulbs, Batteries & Electronics, Yard Trimmings, and Others), By Application (Municipal, Industrial, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2032Industry: Chemicals & Materials
Global Waste Recycling Services Market Insights Forecasts to 2032
- The Waste Recycling Services Market Size was valued at USD 61.76 Billion in 2022.
- The Market is Growing at a CAGR of 5.7% from 2023 to 2032
- The Worldwide Waste Recycling Services Market Size is expected to reach USD 107.51 Billion by 2032
- Asia-Pacific is expected to Grow the fastest during the forecast period
Get more details on this report -
The Global Waste Recycling Services Market is expected to reach USD 107.51 Billion by 2032, at a CAGR of 5.7% during the forecast period 2023 to 2032.
Waste recycling services involve the collection, processing, and transformation of recyclable materials to reduce environmental impact. Materials are collected from various sources, sorted, cleaned, and prepared for recycling at processing facilities. Recyclable materials are then transformed through mechanical or chemical methods into new products or resources. These services contribute to sustainable waste management, addressing environmental challenges, and conserving resources. Collection methods may vary depending on local regulations and infrastructure, and contaminants are removed during processing to ensure quality. Waste recycling services play a crucial role in promoting environmental sustainability and reducing the need for virgin material.
This research report categorizes the market for waste recycling services market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the waste recycling services Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the waste recycling services market.
Global Waste Recycling Services Market Report Coverage
|Market Size in 2022:||USD 61.76 Billion|
|Forecast Period 2022-2032 CAGR:||5.7%|
|2032 Value Projection:||USD 107.51 Billion|
|Historical Data for:||2020-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||130|
|Segments covered:||By Product, By Application, By Region, and COVID-19 Impact Analysis|
|Companies Covered:||Waste Management, Inc., Republic Services, Inc., Veolia Environnement S.A., SUEZ Environnement S.A., Clean Harbors, Inc., Stericycle, Inc., Waste Connections, Inc., Advanced Disposal Services, Inc., Covanta Holding Corporation, Casella Waste Systems, Inc., GFL Environmental Inc., Remondis SE & Co. KG, Waste Pro USA, Inc., Rumpke Consolidated Companies, Inc., Recology Inc.|
|Pitfalls & Challenges:||COVID-19 has the potential to impact the global market|
Get more details on this report -
The waste recycling services market is driven by several factors, including increasing environmental concerns, government regulations promoting waste recycling, corporate sustainability initiatives, and growing consumer demand for eco-friendly products and services. Rising awareness about the need for sustainable waste management practices and the negative environmental impact of waste disposal is spurring demand for recycling services. Government regulations and policies that mandate or incentivize waste recycling are also driving the market, as they encourage businesses and individuals to adopt more sustainable waste management practices. Corporate sustainability initiatives, including commitments to reduce waste and promote recycling, are also propelling the market forward.
The waste recycling services market faces various restraints, including challenges related to infrastructure, limited availability of recycling facilities, and market volatility for recycled materials. Lack of proper infrastructure, including collection and processing facilities, can hinder the efficient and cost-effective recycling of waste materials. The limited availability of recycling facilities in certain regions or for specific types of waste may also limit the growth of the market. Market volatility, including fluctuating prices for recycled materials, can impact the profitability of waste recycling services. Additionally, some recycling processes may be technologically complex and require substantial investments, which can pose a barrier to entry for smaller players. Furthermore, regulatory compliance and legal challenges related to waste handling, transportation, and disposal can also be restraints for the waste recycling services market.
- In 2022, the paper & paperboard segment accounted for around 42.5% market share
On the basis of the product type, the global waste recycling services market is segmented into paper & paperboard, metals, plastics, glass, food, bulbs, batteries & electronics, yard trimmings, and others. The paper & paperboard segment is dominating the market with the largest market share in 2022, due to the high volume of paper and paperboard waste generated by various sources, such as offices, schools, and households. Paper and paperboard are widely recyclable materials, and there is a growing awareness of the need for sustainable paper production and recycling practices. Additionally, government regulations and corporate sustainability initiatives often prioritize paper recycling due to its potential for resource conservation and reduced environmental impact. The paper & paperboard segment's dominance in the waste recycling services market is driven by the high demand for paper recycling services and the growing emphasis on sustainable waste management practices.
- In 2022, the municipal segment dominated the market with more than 52.7% market share
Based on the application, the global waste recycling services market is segmented into municipal, industrial, and others. Out of this, the municipal segment is dominating the market with the largest market share in 2022, due to the large-scale generation of waste from residential and commercial sources. Municipalities and local governments play a crucial role in waste management, including implementing recycling programs, setting up collection systems, and partnering with waste recycling service providers. Increasing awareness about environmental sustainability, government regulations promoting waste recycling, and growing public demand for sustainable waste management practices have driven the municipal segment's dominance in the market. Municipalities are actively involved in waste recycling efforts to reduce the environmental impact of waste disposal and promote sustainable waste management practices in their communities.
Regional Segment Analysis of the Waste Recycling Services Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
Asia-Pacific is leader in the market with more than 38.7% revenue share in 2022.
Get more details on this report -
Based on region, the Asia-Pacific region dominates the waste recycling services market due to several factors. The region has a large and rapidly growing population, along with expanding urbanization and industrialization, which result in increased waste generation. This has led to a pressing need for effective waste management solutions, including recycling services. Additionally, growing environmental concerns, government initiatives promoting waste recycling, and increasing awareness about sustainability have further propelled the demand for waste recycling services in the Asia-Pacific region.
The report offers the appropriate analysis of the key organizations/companies involved within the global waste recycling services market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Companies:
- Waste Management, Inc.
- Republic Services, Inc.
- Veolia Environnement S.A.
- SUEZ Environnement S.A.
- Clean Harbors, Inc.
- Stericycle, Inc.
- Waste Connections, Inc.
- Advanced Disposal Services, Inc.
- Covanta Holding Corporation
- Casella Waste Systems, Inc.
- GFL Environmental Inc.
- Remondis SE & Co. KG
- Waste Pro USA, Inc.
- Rumpke Consolidated Companies, Inc.
- Recology Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture Capitalists
- Value-Added Resellers (VARs)
- In May 2022, Northstar Recycling Company, LLC strategically acquired Complete Recycling, LLC to expand its services and capabilities. This move aims to leverage the expertise, resources, and customer base of both companies to enhance Northstar Recycling Company, LLC's ability to provide comprehensive solutions to existing customers and attract new customers and partners with a more scaled platform. The acquisition enables Northstar Recycling Company, LLC to offer an extended range of services and solutions, including expanded recycling and waste management programs, enhanced data and reporting capabilities, and increased processing and handling capacity. This strategic acquisition strengthens Northstar Recycling Company, LLC's position in the market and enables it to better meet the evolving needs of its customers and the industry.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global waste recycling services market based on the below-mentioned segments:
Waste Recycling Services Market, By Product Type
- Paper & Paperboard
- Bulbs, Batteries & Electronics
- Yard Trimmings
Waste Recycling Services Market, By Application
Waste Recycling Services Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Need help to buy this report?