Hazardous/Solid Waste Management Industry Report by Regional Category Spend, Price Analysis, Key Demand, and Price Indicators, and Best Buying Practices

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.

Industry Definition and Segmentation

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 is Driving the Growth of the Industry

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.

Best Procurement Practices

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.

Category Management Studies

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.

Rise in Construction Activities, Further Propelling the Hazardous/Solid Waste Management Market

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.

Key Industry Players Mentioned in the Hazardous/Solid Waste Management Industry Report

• Veolia Group
• SUEZ Group
• URBASER S.A.
• FCC Environment (U.K.) Limited
• Harden Machinery Ltd.

Market Landscape

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.

Key Initiatives by Companies

• Company Shop Group ('CSG'), the U.K.'s most prominent and most significant redistributor of excess food and home items, was acquired by Biffa Group in February 2021.
• Following regulatory clearances, Waste Management finalised its acquisition of all outstanding shares of Advanced Disposal in October 2020. When incorporating about USD 1.8 billion of Advanced Disposal's net debt, the previously announced purchase price of USD 30.30 per share in cash equals a total enterprise value of USD 4.6 billion.