Global Waste Recycling Services Market

Waste Recycling Services Market Size, Share, Growth Analysis, By Application(Municipal, Agricultural, Construction, Industrial), By Waste type(Metals, Paper and Paperboard, Glass, Bulbs & Batteries), By Region - Industry Forecast 2024-2031


Report ID: SQMIG20L2042 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 69 |Figures: 66

Waste Recycling Services Market Insights

Waste Recycling Services Market size was valued at USD 56.15 billion in 2021 and is poised to grow from USD 59.07 billion in 2022 to USD 88.61 billion by 2030, at a CAGR of 5.20% during the forecast period (2023-2030).

Rising consumer awareness of the benefits of garbage recycling is expected to positively impact market growth over the forecast period. During the COVID-19 pandemic, lockdown imposed a new type of waste known as pandemic waste, which includes gloves, masks, and respirators, as well as their packaging, which increased the waste generated due to disruptions in waste collection activities.

The presence of high levels of hazardous chemicals in trash, such as metals and salts, has compelled waste generators to dispose of or recycle the waste as soon as possible. Globally, urban population growth and rising disposable incomes are expected to drive the domestic housing sector. During the forecast period, the rising volume of waste from various industries such as automotive, food and beverages, chemicals, and electronics is expected to drive the growth of the waste recycling services market.

Furthermore, rising R&D investments in the development of innovative waste management technologies are significantly driving the growth of the global waste recycling services market. Rising waste management concerns, combined with increasing waste disposal challenges, are expected to drive demand for waste recycling services over the forecast period.

Adoption of stringent laws has accelerated waste recycling research and development initiatives, which is expected to drive market growth over the forecast period. The development of numerous disposal methods and procedures has resulted from increased awareness about effective waste disposal for the preservation of animal and human health.

US Waste Recycling Services Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 56.15 billion

Largest Segment

Municipal

Fastest Growth

Municipal

Growth Rate

5.20% CAGR

Global Waste Recycling Services Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)

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Waste Recycling Services Market Segmental Analysis

The global waste recycling services market is segmented into waste type, application and service. The waste type is further segmented into Metals, Paper and Paperboard, Glass, Bulbs & Batteries, Electronics, Yard Trimmings, Food and Others. On the basis of application it is divided into Municipal, Agricultural, Construction, Industrial, Others. By service it is bifurcated into Collection Service, Disposable Service. Based on region, the market is segmented into North America, Latin America, Asia Pacific, Europe, and MEA.

Waste Recycling Services Market Analysis by Application

Municipal government dominated the market. Municipalities are implementing beneficial waste management policies that give people the chance to not only avoid waste's negative effects but also to recover resources, realise economic, environmental, and social benefits, and move toward a more sustainable future—all of which help the market grow. Over the projected period, the demand for waste recycling in industrial applications is anticipated to increase at the quickest CAGR of 5.9%. The need for waste recycling services in industrial applications is anticipated to increase as a result of rising investments in various industries and stricter regulations governing discharges from these enterprises. Additionally, the market expansion during the anticipated period is going to be boosted by the increased demand for agro-based products and organic meals.

Waste Recycling Services Market Analysis by Waste Type

The paper & paperboard segment lead the market. The e-commerce sector has grown quickly thanks to shifting consumer preferences and demographic shifts, which has increased packaging demand. Over the course of the forecast period, this is anticipated to have a favourable effect on the recycling of paper and paperboard. The market for lights, batteries, and electronics is anticipated to grow at a CAGR of 6.7% throughout the projection period. Due to declining electronics prices, rising disposable incomes, and early replacement of electronics, demand for electronics such as displays, mobiles, telecommunication devices, laptops, and refrigerators has expanded dramatically.

Global Waste Recycling Services Market By application 2022 (%), 2023 (%)

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Waste Recycling Services Market Regional Insights

Rapid industrialization is taking place in the Asia Pacific region as a result of cheap and easy access to production inputs as well as supportive governmental regulations. The market for Asia Pacific trash recycling services has expanded as a result of the enormous growth of numerous industries, including the chemical, electronics, and automotive sectors. Further predicted growth drivers for the market include the soaring public and private investments in the creation of effective waste management systems. Furthermore, it is anticipated that the market for waste recycling services would have considerable growth during the projected period due to the strict government regulations regarding the disposal of industrial wastes.

Because of developed infrastructure and stringent regulations mandating waste management across various industries, Europe and North America are expected to account for a significant share of the overall waste recycling services market. Germany leads the world in recycling, followed by South Korea, Austria, and Wales. These countries recycle more than 52% of their municipal garbage, whereas the United States recycles 34.3%, a figure that is expected to rise significantly over the forecast period due to increased awareness raised by green revolutionists, governments, and charitable organisations.

Global Waste Recycling Services Market By Geography, 2022-2030, 2024-2031
  • Largest
  • Fastest

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Waste Recycling Services Market Dynamics

Waste Recycling Services Market Drivers

Rise of Waste Production to Bolster Market Growth

  • Globally, there has been a rapid increase in urbanisation and industrialization, which has led to a high consumption of numerous hazardous chemicals and significant waste production. Additionally, it is anticipated that increased agricultural production and agro-industry waste generation will fuel a global need for waste recycling services.
  • The expansion of the world's waste recycling services is being fueled by the expanding government programmes to minimise waste and the growing emphasis on recycling waste materials. Moreover, the adoption of garbage recycling services is being influenced by the growing awareness of sustainability and environmental preservation. The market for trash recycling services is expanding as a result of research and development being done on the creation of novel technologies that may effectively support garbage recycling operations.

Waste Recycling Services Market Restraints

High Cost of Maintenance to Hinder Market Growth

  • The procurement of various machineries and devices in recycling plants necessitates a significant capital investment. As a result, the large capital investments in the waste recycling plant, as well as the associated maintenance and repair costs, are the major restraining factors that may impede market growth during the forecast period.
  • The global market for trash recycling was significantly impacted by the COVID-19 pandemic. Due to shutdown limitations and the worldwide suspension of all manufacturing facilities and factories, a drop in the industrial sector was seen.

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Waste Recycling Services Market Competitive Landscape

Few businesses in the sector provide services like vendor agnostics, products, and recycling machinery. In order to grow their customer base, these companies work hard to attract new customers. They also offer customized services to keep their existing clientele. Businesses also enter into agreements with the government for public-private partnerships in order to win particular projects.

Waste Recycling Services Market Top Player's Company Profiles

  • Amdahl Corp.
  • Interface, Inc.
  • Covanta
  • Epson, Inc.
  • Collins & Aikman
  • Xerox Corp.
  • Fetzer Vineyards
  • Biffa

Waste Recycling Services Market Recent Developments

  • In May 2022, Northstar Recycling Company, LLC acquired Complete Recycling, LLC. The purchase would allow the former to provide increased services to their current customers, while also improving the combined business' potential to serve additional consumers and partners via a more scaled platform
  • In September 2021, Eurokey Recycling invested about £15 million in a supermarket recycling line. This development is intended to retrieve and recycle flexible plastics and films from the supermarket and retail sectors.

Waste Recycling Services Key Market Trends

  • Globally, there has been a rapid increase in demand for electronic devices of all types in both commercial and residential settings. The increased adoption of advanced digital technologies has fueled global production and consumption of related devices, resulting in the generation of a large amount of e-waste, which is known to contain hazardous materials such as beryllium, calcium, and lead. As a result, e-waste requires special consideration when it comes to waste disposal and recycling. During the assessment period, the rapidly growing e-waste volume is expected to propel the global market for waste recycling services forward.
  • The e-commerce industry generates a large amount of paper and cardboard packaging trash, which could present several opportunities for market participants worldwide. However, in most cases, products made from recycled materials are of poor quality. This may reduce demand for recycled items, posing a significant challenge to global market companies.

Waste Recycling Services Market SkyQuest Analysis

SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, The issues associated with trash disposal and the escalating waste management concerns are anticipated to drive market expansion. The need for trash recycling services is rising as a result of the increased use of disposable packaging materials and other consumables across many business verticals, including food and beverage, healthcare, personal care, and consumer products. The market growth is anticipated to be significantly impacted by the recycling industry's rapid expansion and the rising public awareness of trash recycling systems. Worldwide use of various electronic devices is leading to an enormous amount of electrical waste being produced. Additionally, recycling facilities have been established in numerous nations to support the expansion of recycling. The market for trash recycling services is expanding as a result of the increasing government investments made in the construction of recycling facilities around the country. The need for waste recycling services is being fueled by the increased investments made by the public and private sectors to promote sustainability.

Report Metric Details
Market size value in 2023 USD 56.15 billion
Market size value in 2031 USD 88.61 billion
Growth Rate 5.20%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Application
    • Municipal, Agricultural, Construction, Industrial, Others
  • Waste type
    • Metals, Paper and Paperboard, Glass, Bulbs & Batteries, Electronics, Yard Trimmings, Food and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Amdahl Corp.
  • Interface, Inc.
  • Covanta
  • Epson, Inc.
  • Collins & Aikman
  • Xerox Corp.
  • Fetzer Vineyards
  • Biffa
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Waste Recycling Services Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Waste Recycling Services Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Waste Recycling Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Waste Recycling Services Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Waste Recycling Services Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Waste Recycling Services Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Waste Recycling Services Market size was valued at USD 56.15 billion in 2021 and is poised to grow from USD 59.07 billion in 2022 to USD 88.61 billion by 2030, at a CAGR of 5.20% during the forecast period (2023-2030).

Few businesses in the sector provide services like vendor agnostics, products, and recycling machinery. In order to grow their customer base, these companies work hard to attract new customers. They also offer customized services to keep their existing clientele. Businesses also enter into agreements with the government for public-private partnerships in order to win particular projects. 'Eurokey Recycling, Ltd.', 'Northstar Recycling', 'Triple M Metal LP', 'Amdahl Corp.', 'Interface, Inc.', 'Covanta', 'Epson, Inc.', 'Collins & Aikman', 'Xerox Corp.', 'Fetzer Vineyards', 'Biffa'

Globally, there has been a rapid increase in urbanisation and industrialization, which has led to a high consumption of numerous hazardous chemicals and significant waste production. Additionally, it is anticipated that increased agricultural production and agro-industry waste generation will fuel a need for waste recycling services.

Globally, there has been a rapid increase in demand for electronic devices of all types in both commercial and residential settings. The increased adoption of advanced digital technologies has fueled production and consumption of related devices, resulting in the generation of a large amount of e-waste, which is known to contain hazardous materials such as beryllium, calcium, and lead. As a result, e-waste requires special consideration when it comes to waste disposal and recycling. During the assessment period, the rapidly growing e-waste volume is expected to propel the market for waste recycling services forward.

Rapid industrialization is taking place in the Asia Pacific region as a result of cheap and easy access to production inputs as well as supportive governmental regulations. The market for Asia Pacific trash recycling services has expanded as a result of the enormous growth of numerous industries, including the chemical, electronics, and automotive sectors. Further predicted growth drivers for the market include the soaring public and private investments in the creation of effective waste management systems. Furthermore, it is anticipated that the market for waste recycling services would have considerable growth during the projected period due to the strict government regulations regarding the disposal of industrial wastes.

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Global Waste Recycling Services Market

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