Industrial Waste Management Market to Rear Excessive Growth During 2026
The
global industrial waste management market was valued at US$ 474,179.9
Mn in 2017 and is anticipated to expand at a CAGR of more than 10.6%
from 2018 to 2026 according to a new report titled ‘Industrial
Waste Management Market - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast, 2018–2026’ by Transparency Market
Research (TMR).
Companies
operating in the construction industry are constantly striving to
develop new and sustainable solutions to manage the generated waste.
One ton of cement releases one ton of carbon dioxide in the
atmosphere. The usage of industrial waste materials in the
manufacture of usable products can significantly lower the carbon
footprint of the construction industry. Material recovery facilities
play a key role in integrated industrial waste management by
providing a safe working environment for waste-pickers; encouraging
communities to recycle waste; and reducing the amount of waste sent
to landfills. Thus, manufacture of byproducts through recycling of
industrial waste is expected to drive the industrial waste management
market in the next few years.
Read
Report Overview @
Collection
services to remain dominant segment over the forecast period
Based
on service, the collection segment dominated the market with more
than 50% share in 2017. Waste segregation is important for successful
resource recovery. Collection of industrial waste is usually carried
out by using crane trucks, dump trucks, arm-roll trucks, etc. Waste
collection is one of the factors that determines the efficiency of a
waste management system. Strengthening basic infrastructure for waste
collection, treatment, and disposal is the topmost priority of
governments who have enacted strict regulations related to industrial
waste management.
Country-wise
norms and regulations related to collection, recycling, landfill, and
incineration of industrial waste to drive market
Countries
in Europe have been strictly following the regulations related to
management and disposal of industrial waste. In Europe, Directive
(EU) 2018/850 has laid policies and regulations for member states to
significantly reduce waste disposal by landfilling. In Europe, the
ZeroWIN project focuses on zero-industrial waste generation and
challenging the old ways of thinking of landfilling of industrial
waste. The zero waste vision for industrial networks is estimated to
boost investments in industrial waste management services. The U.S.
in North America is focusing on effective and safe collection,
recycling, landfill, incineration, and disposal of industrial waste.
Currently,
management of construction & demolition waste dominates global
industrial waste management market
Based
on waste type, the construction & demolition segment dominated
the global industrial waste management market with 30.0% share in
terms of value in 2017. It was closely followed by the mining waste
segment. Construction & demolition (C&D) waste is generated
during the construction, renovation, and demolition of buildings or
structures. Construction and demolition waste includes materials such
as concrete, bricks, wood and lumber, roofing, drywall, and
landscape.
Management
of hazardous industrial waste to rise at fast pace
In
terms of volume, the hazardous segment constituted minimal share of
the global industrial waste management market in 2017. France, the
U.K., and Russia are among the top five nuclear power nations in
Europe. Thus, generation of hazardous waste from these countries is
estimated drive the hazardous segment of the industrial waste
management market in the region. Waste management services related to
the management of hazardous industrial waste are 10 times higher than
that for non-hazardous industrial waste.
Countries
in Asia Pacific, especially, China to lead industrial waste
management market
China
is one of the major producers of industrial waste in Asia Pacific.
The country accounted for 49.1% share of the industrial waste
management market in Asia Pacific in 2017. Asia Pacific has 17 of the
50 largest waste dumpsites in the world. Rise in concerns related to
management and disposal of industrial waste in China is expected to
benefit service providers engaged in the industrial waste management
market in the country.
Request
to view Sample Report:
Highly
competitive market with domination of top players
The
global industrial waste management market is highly fragmented, with
large numbers of local and international players providing industrial
waste management services. Leading players dominate the market. Key
players operating in the industrial waste management market are
Stericycle, Inc., Waste Management, Inc., Sembcorp Industries,
Veolia, Suez, Reclay Group, Daiseki Co., Ltd., Enviroserv Waste
Management (Pty) Ltd., Clean Harbors, Inc., and SA Waste.
Comments
Post a Comment