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The waste recycling services market size is forecast to increase by USD 21.1 billion at a CAGR of 5.95% between 2023 and 2028. The market is experiencing significant growth due to various drivers and trends, as well as challenges. One key driver is the increasing focus on reducing energy consumption, air pollution, and water pollution through waste recycling. Additionally, the demand for recycling electronic waste is on the rise due to the growing volume of e-waste and the need to mitigate its negative environmental impact. However, there are challenges associated with recycling, particularly in the case of plastic waste. High costs and the complexities of sorting and processing plastic waste continue to pose significant hurdles. Despite these challenges, partnerships and collaborations between industry players and governments are helping to advance the recycling industry and promote sustainable waste management practices.
The increasing consumption of tech products has led to a significant amount of electronic waste (e-waste) generation. Planned obsolescence, a business strategy that intentionally shortens the life of a product to encourage repeat purchases, contributes to this issue. The informal processing sector, which handles a substantial portion of e-waste, can pose risks to human health and the environment due to harmful toxins present in these devices. Haphazard dumping of e-waste in landfills or open spaces can lead to contamination of soil and water sources.
Moreover, the dismantling of tech devices in the informal sector often involves hazardous practices, exposing workers to diseases such as lead poisoning and respiratory issues. Moreover, the presence of mercury, insulators, trays, and fencing posts in e-waste can lead to environmental harm if not treated properly. To mitigate these risks, consumers are encouraged to utilize authorized channels for e-waste disposal. By partnering with such organizations, consumers can contribute to the reduction of harmful toxins in the environment and protect human health. The recycling process for tech products involves the recovery of valuable materials like plastic, metal, and mercury.
Furthermore, proper treatment of these materials is essential to prevent further contamination and ensure the safety of workers and the community. The recycling industry plays a crucial role in reducing the environmental impact of tech products and promoting a circular economy. In conclusion, the market plays a vital role in addressing the challenges of tech product disposal and protecting human health and nature. By encouraging responsible e-waste disposal and promoting safe recycling practices, we can minimize the risks associated with the informal sector and ensure a sustainable future for our planet.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The municipal segment is estimated to witness significant growth during the forecast period. The market for waste recycling services, particularly for tech products, has experienced significant growth due to various reasons. The concept of planned obsolescence in tech products contributes to a high volume of electronic waste (e-waste), which poses harm to both nature and human health if not disposed of properly. Informal processors, who often handle e-waste in developing countries, may expose workers to harmful toxins during the recycling process. To address these concerns, consumers are increasingly encouraged to utilize authorized channels for e-waste disposal. This not only ensures the safe and environmentally sound disposal of tech products but also reduces the demand for raw materials, thereby conserving natural resources such as wood, metals, and minerals.
Moreover, recycling requires less energy compared to producing goods from raw materials, leading to energy savings for municipalities and contributing to energy efficiency goals. The environmental benefits of recycling extend beyond resource conservation and energy efficiency. It helps preserve ecosystems and reduce environmental degradation by minimizing the need to extract raw materials. As a result, the demand for waste recycling services in the municipal sector is projected to grow steadily during the forecast period.
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The municipal segment was valued at USD 29.10 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In the Asia Pacific (APAC) region, there is a rising emphasis on circular economy principles, focusing on the reduction, reuse, and recycling of various materials. This trend is significantly increasing the demand for waste recycling services. The growing concern for environmental issues and the impact of waste on ecosystems in APAC countries is fueling this shift. Such initiatives by regional governments are further propelling the expansion of the market in APAC.
Furthermore, mercury, a heavy metal, is one of the materials subjected to treatment and recovery through recycling processes. Insulators, trays, fencing posts, and other waste materials are also being recycled to minimize environmental harm and promote sustainability. These practices are essential for preserving the environment and ensuring a greener future. Waste recycling services play a crucial role in this endeavor by offering effective solutions for managing and processing waste materials.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing number of partnerships and collaborations is the key driver of the market. The market is characterized by strategic collaborations and partnerships that enable organizations to tackle the intricate issues of waste management and recycling. This deal boosted the production capacity of quality circular polymers (QCP) for recycled materials to approximately 55,000 tons per year.
Such collaborations play a crucial role in promoting the efficient use of natural resources like timber, water, minerals, and reducing greenhouse gas emissions and pollution. By working together, these organizations contribute to economic security and the availability of raw materials for various industries.
Growing electric waste recycling demand is the upcoming trend in the market. The market for waste recycling services, particularly for materials such as poor quality paper and paperboard, plastics, metals, food waste, glass, yard trimmings, bulbs, batteries, and electronics, has witnessed significant growth in the United States. The increasing awareness of the detrimental effects of improper disposal of these waste materials has driven the demand for professional recycling services. For instance, electronic waste (e-waste) consists of discarded electronic devices and equipment, including computers, smartphones, televisions, and appliances. This waste contains hazardous substances like lead, mercury, cadmium, and brominated flame retardants. If not recycled properly, these substances can contaminate the soil and water, leading to environmental damage.
Furthermore, the rapid advancement of technology results in the frequent replacement of electronic devices, generating a substantial volume of e-waste. Recycling e-waste is essential to prevent the release of these hazardous materials into the environment. Similarly, other waste materials like paper and paperboard, plastics, metals, food waste, glass, yard trimmings, bulbs, batteries, and electronics require professional recycling services to minimize their impact on the environment and ensure their proper disposal.
Several threats associated with plastic recycling is a key challenge affecting the market growth. The market in the United States faces substantial expenses in the collection and transportation of recyclables to processing facilities, particularly in sparsely populated regions. The cost of gathering recyclables from homes, businesses, and drop-off points can be elevated due to the increased frequency of servicing required and the distance to cover. Furthermore, transportation costs to convey these materials to recycling centers contribute to the overall expenses. Contamination, which occurs when non-recyclable items are intermixed with recyclables, adds additional costs to the recycling process through the need for sorting and removing contaminants. The presence of contaminated materials can lead to the production of lower-quality recycled goods, resulting in reduced market value.
Furthermore, investing in advanced sorting and processing technology to meet heightened efficiency and quality standards can entail considerable expenses as recycling technology advances. Energy consumption, air pollution, water pollution, and landfill reduction are significant concerns in the waste recycling sector. Electronic waste, with its high costs and complex recycling processes, poses a unique challenge. The recycling industry must continually adapt to minimize expenses and maintain a competitive edge in the market.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
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 provides specialized waste recycling solutions for various applications, including plastic recycling, food and green waste processing, aggregate and soil treatment, and bulk liquid treatment.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Tech products have become an integral part of modern life, leading to a rise in electronic waste (e-waste). Planned obsolescence, a deliberate shortening of a product's useful life, contributes significantly to this issue. Informal processors, often working in the haphazardly managed informal sector, handle a large portion of e-waste. This informal process can be harmful to both nature and human health due to the presence of harmful toxins like mercury and lead. To mitigate these risks, consumers are increasingly turning to authorized channels for e-waste disposal. Producer responsibility organizations and Extended Producer Responsibility (EPR) schemes play a crucial role in managing e-waste through a reverse logistics chain.
Furthermore, these initiatives ensure proper collection, treatment, and recycling of e-waste. They recover valuable materials like metals, plastics, and insulators from IT e-waste and consumer e-waste, including mobile devices. These materials are then treated and transformed into new products, reducing the need for raw materials and minimizing pollution. E-waste recycling not only benefits the environment by reducing greenhouse gas emissions and preserving natural resources but also offers economic security by providing raw materials for new tech products. However, challenges like high costs, poor quality recycled goods, and contamination from haphazard disposal persist.
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Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.95% |
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Market growth 2024-2028 |
USD 21.1 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.24 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
North America at 50% |
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Key countries |
US, China, Germany, UK, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market 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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