"Actionable Insights to Fuel Your Growth"
Region : Global | Published Date: Upcoming | Report ID: FBI100116| Status : Upcoming
Thousands of industries are generating toxic and hazardous waste around the world dispose of it in open spaces without proper treatment which results in polluting nearby surrounding and water bodies. Over the last couple of decades serious and permanent damage to the environment by these industries is at the forefront. Mismanagement of industrial waste has resulted in polluted groundwater, streams, lake, and rivers as well as damage to wildlife and vegetation.
The crucial and impactful steps need to be taken to address rising concern over industrial waste which includes chemical solvents, metals, ash, toxic and radioactive wastes, and industrial by-products. The overall growth in the economies across the globe is mainly due to rapid industrialization which is a primary producer of industrial waste. Industrial waste management not only helps in reducing overall waste production but also assist in environmental protection by effective waste utilization. Reduce, reuse and recycle concept should be implemented on a large scale which is will help to cope up with waste management. There is a tremendous scope for industrial waste management in every corner of the world due to a large scale of industrial units.
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The classification of industrial waste management can be done on the basis of waste type i.e. Construction and Demolition Waste, Agricultural Waste, Manufacturing Waste, Chemical Waste, Mining Waste, Oil and Gas Waste, Nuclear Waste, Power Plant Waste, and others. There are various methods to treat industrial waste and convert it into raw material, fuel and other. The services offered by effective and efficient waste management by waste handling industries are Recycling, Landfill, Incineration, Deep Well Injection, and others.
The world is drowning in a heap of industrial waste and there is an immediate action required which will drive the market for waste management units. The global concern over degradation of atmosphere, forest, and natural water bodies have enacted government and international environmental protection bodies to take extreme steps for conservation and protection of the environment. Direct dumping of waste into open spaces, natural water bodies have already devastated air and quality, soil fertilization, aquatic ecology, and extreme weather condition.
Waste recycling requires a large initial investment for processing and establishing waste handling units which slow down its growth. A highly distinguished process is required for waste processing and recycling which include advance machinery and technology which inhibit its adoption. The lack of social responsibility, use and throw attitude which inhibits the growth of industrial waste management as dumping waste in open space is very easy compared to processing and recycling of waste which requires investment.
Some of the notable companies in the industrial waste management are Clean Harbors, Stericycle, Veolia, Suez, Biffa Group Limited, Covanta Energy, Waste Management Incorporation, Remondis, Reclay Group, Daiseki Co., Ltd., and Advance Disposal
Segmentation of the Industrial Waste Management
By Waste Type
· Construction and Demolition Waste
· Manufacturing Waste
· Agricultural Wastes
· Chemical Waste
· Mining Waste
· Oil and Gas Waste
· Nuclear Waste
· Power Plant Waste
· Deep well injection
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
The industrial waste management market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is generating excessive waste and authorities are showing a keen interest in proper waste management. Investment for the development of environment and rising sensitivity of waste management has a potential growth for waste handling companies. The Asia Pacific is extremely dominating the market and has great potential for development and implementation of a waste management program. India and China are some of the leading economies in the globe and also the largest producers of municipal solid waste which can certainly provide an opportunity for waste management. European countries are acting extremely harsh to curb sensitive pollution concern. The utilization of waste, proper segregation and treatment and the use of 3R’s (Reduce, reuse and recycle) have provided lots of business who are actively operating waste management system. MEA is very prone to offshore pollution and they are implementing effective waste collection and disposal system. Hazardous pollutants produce due to offshore activities which are very serious to marine ecology. Globally industrial waste management is a business rather than a threat to the environment if it is treated effectively and efficiently.
Key Industry Developments
· In March 2019, The Indian government banned the import of plastic waste which is the fourth largest destination for Australia’s waste escalating waste crisis.
· In February 2019, leading waste recycling and waste management provider in the UK, Biffa, received approval from Durham County Council for £15m plastics recycling plant near Seaham.
· In January 2019, Alliance to End Plastic waste in which DOW is playing a key role committing $1 billion with the goal of raising $1.5 billion over the next five years for an advance solution to eliminate plastic waste in the environment.