The global Hazardous/Solid Waste Management market reached a value of about USD 419.87 billion in 2021. The industry is projected to grow at a CAGR of around 7% in the forecast period of 2022-2027 to reach a value of about USD 630.02 billion by 2027.
The global Hazardous/Solid Waste Management industry report gives a comprehensive analysis of the industry, including key segments, trends, drivers, restraints, the competitive landscape, and other essential market aspects. The adoption of aggressive government initiatives to curb unlawful dumping is driving the growth of the worldwide waste management industry. In the industry report, the key demand indicator is the highest category spender by region—Asia Pacific.
Hazardous-waste management is the collection, treatment, and disposal of waste that, if mishandled, can endanger human health and safety and the environment. Hazardous wastes might be solids, liquids, sludges, or confined gases, typically produced by chemical, manufacturing, and other industrial processes. Harmful wastes display one or more of the following hazardous characteristics recognised or tested as hazardous wastes; Ignitability, Reactivity, Corrosivity, and Toxicity. The Hazardous/Solid Waste Management industry report comprises segments (North America, Europe, Asia Pacific, the Middle East, Africa, and South America).
The Asia Pacific region holds the largest share in the market due to the region's population expansion, people's high disposable income, and rising demand for packaged food goods. The area is also a significant source of marine plastic pollution. Plastic bottles, plastic bags, single-use plastic goods, and plastic packaging are involved. China, Indonesia, and Thailand are three of the most polluting countries globally.
The rapidly developing economies and urbanisation are driving the market, and population growth has resulted in a rise in resource consumption (materially intensive) and, as a result, the discharge of vast volumes of garbage into the environment. Mismanagement of solid waste has been linked to a decline in public health and productivity and pollution of water bodies and airborne pollutants. Growing urbanisation and a constant rise in the worldwide population have accelerated the deployment of solid waste management procedures for abandoned goods while retaining the treatment methods' social, technical, and economic viability. The market development would be facilitated by constant supply recuperation projects and growing demand for incorporated solid waste management methods throughout metropolitan agglomerations.
The market is growing due to a lack of land for effective waste disposal and a focus on energy and resource recovery. Furthermore, the increased procurement of recyclable items creates enormous market development prospects. Moreover, the waste management industry will develop as more WTE incineration, and recycling processes are adopted.
However, the high cost of acquiring and running waste management systems is hampering the market growth.
The global Hazardous/Solid Waste Management industry report by Procurement Resource gives an in-depth analysis of the best buying practices followed by major global Hazardous/Solid Waste Management regions across the globe, such as engagement models, contract terms, and buyer and supplier negotiation levers, among others.
Thermal, Chemical, biological, and physical processes can all be applied to treat dangerous waste. Ion exchange, precipitation, oxidation and reduction, and neutralisation are chemical techniques. High-temperature incineration is among the thermal technologies that may cleanse and destroy some organic wastes. Thermal equipment is used to burn solid, liquid, or sludge trash: fluidised-bed incinerators, multiple-hearth furnaces, rotary kilns, and liquid-injection incinerators. Landfarming is one approach for organically treating hazardous waste. In this method, garbage is combined with surface soil on a suitable piece of land, and microbes digest the waste and nutrients together. Vaporisation, alluviation, flotation, and cleaning are examples of physical methods. Encasing the garbage in concrete, asphalt, or plastic accomplishes this.
The construction sector is propelling the industry. Construction and demolition waste is growing worldwide, and it aids in reducing and reusing waste materials such as concrete, earth, wood, glass, plastic, cardboard, and metal. Building and destruction waste goods, distinct domestic garbage, are inert, hefty, and non-biodegradable. As a result, before these materials may be reused or decomposed, regulatory authorities need commercial facilities to sort, treat, and filter them. The need for construction waste management is being catalysed by increased building and demolition activity worldwide.
Similarly, as consumers' purchasing power grows, so does the shelf life of technological devices. As the life cycle of electronic items shortens, more and more e-waste is produced. This build-up of electronic trash necessitates recycling electronic devices, which requires electronic waste management, supporting the entire waste management market's growth.
The regional markets for the industry can be divided into Europe, North America, South America, the Asia Pacific, and the Middle East and Africa.
Many firms focus on breakthrough technologies to recycle and reuse trash generated across various businesses and homes worldwide, making the global waste management market extremely competitive. The top solid waste management market participants are now focused on collaborations and strategic alliances with utilities to achieve a competitive advantage. The cooperation business plan transforms the whole company model by delivering maximum efficiency and market share.
To provide better services in the market, these waste management firms have implemented techniques such as company development, acquisitions, agreements, and partnerships.
There are also several new startups in the business concentrating on waste reduction and adhering to the Zero Waste - 3R (Reduce, Reuse, and Recycle) concept.
1. Executive Summary
2. Global Hazardous/Solid Waste Management Market Snapshot
2.1. Hazardous/Solid Waste Management Market Outlook
2.2. Regional Overview
2.2.1. North America
2.2.3. Asia Pacific
2.2.4. Latin America
3. Impact of Recent Events
4. Hazardous/Solid Waste Management Value Chain Analysis
5. Hazardous/Solid Waste Management Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Hazardous/Solid Waste Management Cost Structure
9. Hazardous/Solid Waste Management Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Hazardous/Solid Waste Management Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. SWOT Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Feedstock Market Analysis
13.1. Market Overview
13.2. Price Analysis
14. Industry Best Practices
14.1. Sourcing Strategy
14.2. Procurement Model
14.3. Contract Structure
14.4. Negotiation Levers
14.5. Pricing Model
14.6. Key Factors Influencing the Quotation
15. Key Supplier Analysis
15.1. Veolia Group
15.2. SUEZ Group
15.3. URBASER S.A.
15.4. FCC Environment (UK) Limited
15.5. Harden Machinery Ltd.
The global Hazardous/Solid Waste Management market size was valued at USD 419.87 billion in 2021.
As per the end-use provided, the pharmaceutical segment is anticipated to lead the market between the period 2022 – 2027.
The significant demand for waste management due to strict regulations is one of the essential drivers of the Hazardous/Solid Waste Management market growth.
Veolia Group, SUEZ Group, URBASER S.A., FCC Environment (U.K.) Limited, Harden Machinery Ltd., Geocycle, REMONDIS SE & Co. K.G., and DS Smith Plc, are some of the key players in the market.
The Asia Pacific region of the Hazardous/Solid Waste Management industry holds a significant share in the market.
The global Hazardous/Solid Waste Management market attained a value of USD 419.87 billion in 2021, driven by the Rapidly developing economies, urbanisation, and population growth have resulted in a rise in resource consumption (materially intensive) and, as a result, the discharge of vast volumes of garbage into the environment. The market is growing due to a scarcity of land for effective waste disposal and a focus on energy and resource recovery. Furthermore, the increased procurement of recyclable items creates enormous market development prospects. Aided by the demand from industries including construction, electronics, etc., the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 7%. The market is projected to reach USD 630.02 billion by 2027. A few of the prominent players in the industry are Veolia Group, SUEZ Group, URBASER S.A., and FCC Environment (U.K.) Limited, Harden Machinery Ltd., Geocycle, REMONDIS SE & Co. K.G., DS Smith Plc.
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