Industrial Waste Management Market Size, Share & COVID-19 Impact Analysis, By Waste Type (Construction & Demolition Waste, Manufacturing Waste, Chemical Waste, Mining Waste, Oil & Gas Waste, Agriculture Waste, Nuclear Waste, Others), By Service (Landfill, Recycling, Incineration), and Regional Forecasts, 2022-2029

The global industrial waste management market size was valued at USD 961.96 billion in 2021 and is projected to grow from USD 1,004.38 billion in 2022 to USD 1,473.95 billion by 2029, exhibiting a CAGR of 5.6% during the forecast period. Asia Pacific dominated the global market with a share of 35.20% in 2021.

The global COVID-19 pandemic has been unprecedented and staggering, with industrial waste management experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of 10.4% in 2020 as compared to 2019.

Management of waste produced through industrial activities generally consists of separation, composting, landfill, and waste recycling. Industrial waste management through landfill includes waste burial which cannot be further composed or recycled. Subsequently, recycling of industrial waste is generally referred to reuse of waste materials and generally includes the utilization of multiple management of waste technologies.

Recycling is reusing or repurposing waste materials to reduce the amount of waste produced. All these processes also utilize various waste management technologies available within waste management facilities. Incineration is a waste treatment method that burns the organic substances contained in waste materials. Through this process, the solid waste’s mass is reduced approximately by 80 - 85%. However, incineration does not help replace landfill waste but significantly reduces the amount of disposed waste.

COVID-19 IMPACT

Closure of Industrial Units along with Lower Waste Production Resulted in Market Slowdown Amid the Pandemic

Experts say the pandemic has highlighted the importance of managing waste to minimize long-term health risks to people and the environment. The COVID-19 pandemic has also resulted in a significant rise in medical waste, which mainly constitutes face masks, hand gloves, and protective gear.

Additionally, the pandemic situation has negatively impacted the industrial segment. The supply chain was disrupted as governments in different countries imposed travel restrictions.

The strict lockdown implemented in many countries has resulted in the closure of various industries and workers traveling. Several organizations limited their workforce, and workplaces were functioning at 50% capacity. This reduces the waste generated from the sectors and ultimately leads to a decline in adopting such services.

LATEST TRENDS

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Increasing Focus on Developing Advanced Technologies to Spur Market Opportunities

Several developing and developed countries focus on developing innovative technologies and advancing collection solutions. Countries are developing new technologies for waste collection. Many advanced sensors notify waste management companies that bins are full and require maintenance.

The disposal of e-waste is also gaining popularity around the world. Kuwait ranks as the largest per capita producer of e-waste, using the same landfills for e-waste and conventional waste. Oman even has e-waste regulations. Various key technologies have been introduced in many regions worldwide, and different effective waste management techniques have been integrated into several countries around the globe.

For example, the Dubai Municipality is installing smart weighbridges and electronic gates at all landfill sites to make the landfill sites more sustainable. Moreover, this industry's increasing innovation and development will likely create tremendous market opportunities during the forecast period.

DRIVING FACTORS

Increasing Number of Industries around the World to Boost Market Growth

The demand for industrial waste management solutions is increasing rapidly in industrialized countries. Urbanization and industrialization are increasing worldwide. Waste management awareness is rapidly increasing in the industry along with increasing technological advances in recycling facilities.

In India, approximately 60% of waste was processed in 2020 compared to 28.57% in 2018. The industrial verticals are growing with the increasing number of aerospace and defense, automotive, electronics, oil and gas, food and beverage, biotechnology, and others. With the growing number of industries, industrial waste generation is also increasing worldwide. This increasing waste is a significant problem for people and governments in many countries worldwide. This creates an enormous need for proper waste management worldwide. Therefore, the demand for industrial waste disposal will increase during the forecast period.

Increasing Application of Waste Management Technologies to Fuel Market Growth 

 Each year, various verticals, such as industrial sector, agricultural sector, municipalities, generate a billion tons of waste and management of such waste remains one of the most crucial challenges. Several industry verticals are trying to reduce their energy consumption by adopting waste to energy technologies such as thermochemical, biochemical, incineration, and gasification. The waste to energy helps various industry verticals to convert the waste into electricity and heat to be used for their application. Additionally, this helps them with generating a revenue stream from waste management.

This helps in possibly reducing heating and electricity consumption from the grid, which, in turn, fuels the growth of waste management in the energy sector.

RESTRAINING FACTORS

High Waste Disposal Cost is Hampering the Market Growth

The surplus products released by the industry can be recycled. Still, recycling such scrap is very costly, and small and medium-sized industries cannot invest such amounts for waste management. As of 2021, the Americas generated nearly 250 million tons of trash annually and recycled 34% of the total waste.

Many countries have presented small and medium-sized local industries that generate a lot of scraps. Still, they cannot spend a lot of money to dispose of such waste properly. Some regions of the world even lack the infrastructure to keep up the waste collection, hindering the industrial waste management market growth over the forecast period.

SEGMENTATION

By Waste Type Analysis

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Construction & Demolition Waste to Hold Dominant Market Share Due to Growing Infrastructural Activities

Based on waste type, the market is segmented into construction & demolition waste, manufacturing waste, agricultural waste, chemical waste, mining waste, oil & gas waste, nuclear waste, and others.

Moreover, as per the United States Environmental Protection Agency (EPA), the U.S. alone generated over 600 million tons of construction-related waste and is likely to grow faster in the forthcoming years. Based on this factor, the construction & demolition waste segment is likely to maintain its dominant market share during the forecast period.

In addition, waste from the manufacturing industry is expected to increase significantly over the forecast period owing to the growth of industrialization in many developing countries and production of the excess scrap. Disposal of such wastes into the environment may cause air and water pollution. In 2019, 5% of production-related waste from manufacturing was released into the atmosphere. However, the rest has been dealt with through treatment, recycling, and others.

In parallel to manufacturing waste, waste materials from industries such as metallurgy, non-metallurgy, and food processing industries are increasing significantly across the region, particularly in developing countries due to growing industrialization and population, which drives the mining industrial waste management market growth.

By Service Analysis 

Landfill Segment Dominates the Market Due to Widespread Adoption

Based on service, the market is segmented into landfill, recycling, and incineration. Landfill segment accounts for the majority of the industrial waste management market revenue. Landfilling is a high priority for state and local governments to manage waste as it is for state and local governments, thereby surging the demand for landfilling as waste management services across the region.

In addition, the industrial waste management hierarchy emphasizes reducing, reusing, and recycling as key to sustainable materials management. Based on this factor, the recycling industrial waste management service will likely experience significant growth during the forecast period.

In parallel to this, developing countries worldwide have increased their efforts to reduce the volume of waste through waste management techniques such as recycling and better solid waste management. Moreover, many countries are exploring Waste-to-Energy (WtE) technologies, such as incineration, in which municipal solid waste is subjected to an environment-friendly process to produce steam and electricity. Based on these factors, incineration waste management services will likely experience significant growth during the forecast period.

REGIONAL INSIGHTS

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Geographically, the market has been analyzed across North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

The market for industrial waste management is dominated by the Asia Pacific region, owing to increase in economic activity, subsequently leading to an increase in waste production and increase in demand for managing the waste. Moreover, government’s aid to support waste to energy-based facilities will result in the dominance of Asia Pacific during the forecast period.

Followed by Asia Pacific, North America and Europe are expected to register significant growth during the forecast period. Awareness of environmental impacts is increasing rapidly among people in this region. For example, according to the Environmental Protection Agency, the landfill law has been changed in this region. The U.S. government charged USD 7,500 per person for illegally dumping and burning garbage. To overcome this, governments are initiating various projects to manage waste sustainably and environment-friendly, which focuses primarily on factors such as reduction and recycling of waste sources, energy recovery, treatment, and disposal.

In addition, countries in Latin America and the Middle East & Africa are witnessing a significant increase in waste incinerators with the growing trend of a circular economy, which mainly focuses on waste management.

KEY INDUSTRY PLAYERS

Key Participants are Concentrating on Enhancing their Business Capacities through Business Collaboration with Governments and Domestic Bodies 

The competitive landscape for the global market is fragmented due to the presence of many industrial waste management players. Several key players in the world are increasingly engaging in organic and inorganic developments to consolidate their market positions worldwide. Most companies focus on expanding their disposal capabilities by introducing or expanding existing facilities.

For example, In December 2021, Veolia signed an exclusive partnership with Saudi Aramco to treat 200,000 tons of industrial and non-hazardous waste. These amounts come in addition to managing hazardous waste with a volume of around 120,000 tons which will be treated at Jubail. At Jubail, Veolia is completing the construction of an incinerator plant for Sadara Chemical Company and other nearby industries.

Moreover, in June 2020, SIRC, the Saudi Investment Recycling Company opened its first construction and demolition waste recycling plant in Saudi Arabia. The facility recycles nearly 20 million tons of waste dumped on vacant lots.

List of Key Companies Profiled:

• Veolia (France)


• SUEZ (France)


• Covanta (U.S.)


• Waste Management Inc (U.S.)


• Stericycle (U.S.)


• Daiseki Co., Ltd. (Japan)


• CLEAN HARBORS INC. (U.S.)


• REMONDIS SE & Co. KG (Germany)


• Biffa (U.K.)


• SembCorp (Singapore)


• Republic Services, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• September 2022 – SUEZ, along with Royal Bafokeng Holdings (RBH) and African Infrastructure Investment Managers (AIIM) completed the accession of EnviroServ Proprietary Holdings Limited and its subsidiary. Through this accession, Suez will be able to integrate its position as a leading international municipal & industrial waste management company. This will also enable Suze to strengthen its market position across the African continent.


• June 2022 - Veolia proposed the sale of Suez's UK waste business and continues building the global champion of ecological transformation. The project aims to be an ecological transformation by bringing together Veolia and most of Suez's international activities. The merger has already proven helpful in adding new skills, technologies, and regions.


• April 2022 - Viridor announced the sale of its landfill and landfill gas business to Frank Solutions Limited. The deal was completed late March 31, 2022, and included the operation and management of 44 sites across the U.K. The sale will allow Viridor to continue growing its core energy recovery and polymer processing businesses while advancing its plans to be net zero by 2040.


• November 2021 – Waste Management Inc. announced that it expected to invest USD 200 million in recycling infrastructure in 2022, bringing the company’s investment in new and upgraded recycling facilities to over USD 700 million since 2018. With the demand for recycled content products continuing to rise, the investment will enable WM to capture more recycled materials and increase access to recycling for its customers.


• October 2021 – REMONDIS International GmbH took over all shares in Veolia Recycling Solutions Nordic AB. Through this acquisition, REMONDIS is strengthening its market position across the Northern Europe region and is significantly expanding its business activities in the Swedish market. The acquisition also marks the company’s entry into the Swedish industrial cleaning sector.

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