The global solid waste management market is expected to be valued at USD 1,193.88 billion by 2027 from USD 1000.12billion in 2019, registering a CAGR of 2.4% through the forecast period, according to the latest report by Emergen Research. Strict government regulations on solid waste disposal can be attributed to the growth of this industry. The growth of solid waste management solutions is expected to be driven by the growing population and the increasing amount of waste produced every year. Favorable regulatory policies on the proper disposal of solid waste, such as carbon taxes or direct subsidies, or landfill taxes, are most likely to fuel the market for solid waste management. In emerging economies, rapid urbanisation and industrialisation are key factors leading to the growing adoption of solutions for solid waste management. Growing government measures to reduce the pollution of water sources and carbon emissions are most likely to drive demand growth over the forecast period. The use of municipal solid waste (MSW) as fuel through thermal and biological techniques to produce renewable energy sources is projected to drive potential growth opportunities. Developed countries’ growing preference for zero waste generation and waste recycling would undoubtedly fuel the market for solid waste management and recycling solutions.
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Key Highlights From The Report
- In March 2019, Nestle and Veolia entered into a collaboration regarding the implementation of a recycling program. The organisation is part of a set of concrete programs and actions initiated by Nestle to reduce plastic waste.
- The industrial solid waste sub-segment had the highest market share of 57.6 percent in 2019. The growth of solid waste management solutions among the industrial sectors is expected to be driven by rapid industrialization in the developing economies and the growing adoption of renewable energy sources among the industrial sectors.
- Processing over the forecast period is expected to rise at the fastest CAGR of 3.0%. The lack of landfill sites in populated cities has led to the growing need to recycle solid waste and boosted the growth of the segment.
- Due to the growing amount of plastic waste produced each year from the packaging industry, the plastics segment held solid waste management’s largest market share in 2019.
- Over the projected period, the Asia Pacific region is expected to be the fastest-growing region as the government continues to enforce stringent pollution control regulations to minimise environmental greenhouse gas emissions.
- Key participants include Covanta Holding Corporation, Hitachi Zosen Corporation, Clean Harbors, Inc, Recology, Cleanaway, Wheelabrator Technologies, Waste Management, Inc., Veolia Environment SA (Veolia), SUEZ, and Advanced Disposal Services, among others.
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Emergen Research has segmented the Global Solid Waste Management Market on the basis of waste, treatment, material, and region:
- Waste Outlook (Revenue, USD Billion; 2017-2027)
- Industrial Solid Waste
- Municipal Solid Waste
- Treatment Outlook (Revenue, USD Billion; 2017-2027)
- Processing (Recycling and Anaerobic Digestion)
- Disposal (Landfill & Open Dump and Incineration)
- Material Outlook (Revenue, USD Billion; 2017-2027)
- Paper & Paperboard
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East &Africa
- Saudi Arabia
- Rest of MEA
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