The growing adoption of
electronic devices worldwide has resulted in an increase in electronic waste generation. Many countries have established recycling facilities to handle the growing volume of recycled trash, further promoting recycling management. Additionally, the government's growing investments in setting up recycling plants in different locations are driving the waste recycling services market. Both the government & corporate sectors' rising attention towards sustainability has also led to heightened demand for waste recycling services.
The market is expected to experience a noteworthy rise in the integration of recycling technologies, such as sensor-based sorting systems & waste separation via robots. These innovations will significantly improve the precision of recycling processes. Furthermore, the growing need for recycled materials in industries such as packaging,
construction, & automotive will open up new avenues for market participants.
Moreover, the upcoming advanced techniques, such as waste-to-energy conversion techniques, including thermal treatment and anaerobic digestion, will transform the waste recycling industry. These upcoming methods will allow for the extraction of energy from both organic & non-recyclable waste streams, providing a sustainable & suitable solution to waste management & energy generation.
Research Scope and Analysis
By Product
The Paper and Paperboard Segment holds the dominant position in the Global Waste Recycling Services Market. The growth in this segment is due to the generation of paper waste from several sources like paper packaging, containers & newspapers. Also, the rapid expansion of online commerce platforms worldwide has resulted in the generation of a huge volume of paper & paperboard packages.
Moreover, the increasing usage of paper-based packaging as an alternative to single-use
plastics has also played an important role in driving the growth of paper waste. These factors collectively have contributed to the growth of the paper and paperboard segment in recent years.
Over the forecast period, the bulbs, batteries, & electronics segment is anticipated to grow with a compound annual growth rate of
7%. The rise in demand for various electronic devices like screens, laptops, mobiles, etc., can be a result of declining prices of electronics, an increase in
disposable incomes, and a trend of early replacement of electronics. As a result of the demand for electronics, there has been a significant increase in electronic waste generation, which in turn results in a greater focus on e-waste recycling.
By Application
In 2023, the Municipal Segment is at the forefront, holding the largest market share in the Global Waste Recycling Services Market. Municipalities have been implementing several policies related to waste management, opening avenues not only to mitigate the adverse impacts of waste but also to recover valuable resources. Domestic waste treatment is extensively carried out by municipalities in each country.
The existing waste disposal & recycling networks within municipalities can pose challenges for private enterprises aiming to enter the residential and commercial sectors. However, companies are finding ways to recycle the garbage generated by these industries by forming PPP (public-private partnerships). These partnerships facilitate the recycling process and further fuel the market growth.
The waste recycling demand in industrial applications is projected to experience the highest compound annual growth rate during the forecast period. This growth can be accredited to increased investments in diverse sectors & the implementation of stringent regulations governing discharges from these establishments, which are driving the need for waste recycling services in industrial settings. Additionally, the rising demand for agricultural-based products & organic stuff is expected to drive the market growth in the upcoming years. These factors collectively are likely to fuel the expansion of waste recycling services in
industrial applications.
The Global Waste Recycling Market Report is segmented on the basis of the following:
By Product
- Metals
- Paper & Paperboard
- Glass
- Bulbs, Batteries & Electronics
- Yard Trimmings
- Food
- Others
By Application
- Industrial
- Municipal
- Others
Regional Analysis
Asia Pacific emerges as the market leader, commanding the largest share of 45.3% globally in 2023. The region's considerable population growth, along with rising industrialization & urbanization, has led to a substantial rise in the usage of natural resources & subsequent waste generation. India is recognized as a significant market for these services.
North America & Europe are projected to hold substantial shares in the overall waste recycling services market, majorly due to their well-developed infrastructure & strict policies governing waste management across diverse sectors. Among these regions, the highest recycling rate is in Germany. Other countries with higher rates include Austria, Wales & South Korea. Therefore, the growth is expected to rise significantly in the coming years, fueled by the increased awareness promoted by environmental activists, governmental initiatives, & charitable organizations.
By Region
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The Waste Recycling Services Market displays a moderate level of fragmentation, with numerous local companies operating in the sector. These market players are actively seeking to expand their market share through various strategies, including investments, partnerships, acquisitions, and mergers. Furthermore, companies are dedicating resources to enhance their product offerings and maintain competitive pricing to remain at the forefront of the industry.
For example, In March 2019, Veolia and Nestle joined hands in a collaborative effort to create a recycling program aimed at tackling plastic waste. In February 2020, Suez inked a deal with the Shanghai Chemical Industry Park to handle the collection and management of all hazardous wastes generated within the industrial park.
Some of the prominent players in the Global Waste Recycling Services Market are
- Northstar Recycling
- Eurokey Recycling, Ltd
- Triple M Metal LP
- Covanta
- Epson, Inc.
- Interface, Inc.
- Xerox Corp.
- Biffa
- Rubicon Global
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Waste Recycling Waste Market
The COVID-19 pandemic led to the emergence of a new category of waste called pandemic waste. This waste includes gloves, masks, respirators, and their packaging, resulting in increased waste generation due to disruptions in waste collection activities caused by lockdown measures. The pandemic resulted in panic buying of essential items like food, toilet paper, and cleaning products, leading to increased waste generation during lockdowns and a surge in demand for single-use plastics in the U.S. Additionally, the limitations on commercial activities caused by the pandemic have disrupted the waste recycling industry in the U.S.
The recession resulted in reduced consumer spending and industrial activities. Economic downturns may lead to a slowdown in investments and research in the recycling industry, affecting the development of new recycling technologies and processes.