Recycling Bins Market Size, Share & Industry Analysis, By Material (Plastic Lumber, Steel, Fiberglass and Others), By applications (Residential, Commercial, Public Places), By Distribution channel (Shopping Malls, Hypermarkets and Supermarkets, Retail Stores, Online)and Regional Forecast, 2024-2032

Recycling bins are extensively useful to collect the trash and to process it for the recycling system. Increasing cases of the health diseases from the garbage of various kinds create needs for the recycle bins. Rising hygiene awareness of the global populations gives rise to the demand for the recycling bins. Various government's sustainability initiatives in the case of garbage collection, storage, and recycling activities immensely require recycling bins for trash management this in turn creates the demand for the market. For instance, in 2017, Waste Management, an American waste management company has started an initiative by the service delivery optimization (SDO), which helps to streamline the routes to collect the trash by 95% of the SDO certified vehicles over 8.9 Million miles a year.

Evolving global businesses for converting trash into electricity, energy, and other recycling products such as Veolia, Suez Environment, China Everbright, and many others supports the usage of recycling bins.

Increasing global urbanization with rising product’s consumption results in waste generation, which requires dust bins for waste disposition, hence it is expected to be the major driver of the growth of the market. According to the UN Department of Economic and Social Affairs, the global urban population is projected to grow by 2.5 Billion urban dwellers between 2018 to 2050, with nearly 90% of the increase is concentrated in the Asia and Africa regions.

Key Market Driver -

Increasing global urbanization is expected to propel the demand for the recycling bins market.

Key Market Restraint -

Higher cost of the recycling bins of major sizes is anticipated to restrain the growth of the market.

Increasing the usability of the recycling bins along with the increasing amount of waste from various sources such as household wastes, including solid and semi-liquid wastes, enhances revenue generation from the recycling bins.  Moreover, construction debris, medical and clinical waste, electrical waste, green waste propels the demand for recycling bins. in addition to this, increasing global populations coupled with the increasing infrastructural development in the various developed and developing countries creates necessities for the garbage management systems, perhaps flourishes the global recycling bins market. 

However, the higher cost of the large-sized garbage cans is projected to hamper its demand for the underdeveloped countries and restrains the market. Also, the use of reusable liners in the trash cans is expected to reduce the trash cans purchases and hinders market growth.

Key industry players:

Global recycling bins market involves number of key players such as Rubbermaid, United Solutions, Happy Sale, Kangaroo, Suncast, Organise It All, IRIS USA Inc., Acrimet, Highmark, Step ‘N’ Sort, Genuine Joe, Clean Cubes, etc.

Global recycling bins market is segmented by material, by applications, by distribution channel, and by geography.

Based on the material, the recycling bins market is segmented into plastic lumber, steel, fiberglass, and others such as stainless steel, wood, etc. The plastic lumber segment is expected to hold the major share of the global recycling bins market owing to the availability of wide variety, styles, and designs of the plastic lumber that attracts the peoples to purchase and use them. Also, higher scratch and abrasion resistivity of the plastic lumber cans is the major factor for the segment to hold a dominant share of the market.

Based on the applications, the global recycling bins market is segmented into residential, commercial, and public places applications. The commercial segment is expected to hold major share of the market owing to the increasing waste generation of the construction debris.

Based on the distribution channel, the recycling bin market is segmented into shopping malls, hypermarkets and supermarkets, retail stores, and online channels of distribution. Retail stores segment is projected to hold major share of the global recycling bins market as easy accessibility and availability of dust bins and other cleaning materials of different sizes and shapes in the retail stores.

Regional Analysis:

Based on geography, the global recycling bins market is segmented into North America, Europe, Asia Pacific, South America, Africa, and the Middle East.

North America region is expected to major share of the global recycling bins market. The developed countries such as the United States and Canada are expected to dominate the market in the North America region owing to the huge waste generation from these countries which immensely require recycle bins for garbage storage and recycling. According to the World Bank, in 2018, countries such as the United States, Canada, and some European Countries account for 16% of the global population are responsible for producing 34% of the global waste. In addition to this, increased urbanization of the developed countries in the North America region increases the consumption of the region’s populations and, in turn, results in increasing demand for the product in this region.

To gain extensive insights into the market, Request for Customization

Asia Pacific region is projected to grow at a faster rate for the global recycling bins market. The higher population countries such as China and India are the major growth drivers for the recycle bins market in the Asia Pacific region. Increasing governmental support related to hygiene and sustainable development programs spreads awareness about clean and neat living styles in those countries that give rise to the growth of recycling bins. According to the International Journal of Research in Advent Technology (IJRAT), the government of India has allocated USD 1.95 billion in the year of 2017-18 to achieve the target of Swachh Bharat in October 2019. Moreover, increasing economic growth in the Asia Pacific region gives rise to the development of the corporate sector and related infrastructure. Increasing hygiene consciousness in corporate buildings gives rise to the growth of the recycle bins market. According to OECD, Asia’s economy is projected to grow at a rate of 6.1% from 2019 to 2023.

Segmentation

Recent key developments:

• In Feb 2019, Clean Robotics has launched an innovative trashbot that efficiently able to sort the  waste from the recyclables at Jessi Street, San Francicso.


• In November 2019, Novolex barnd heritage has launched a new range of trash can liners with 50% post consumer recycled (PCR) resin that uses lesser material with lower environmental impact and reduced cost.