Waste Recycling Services Market Size
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 124.23 Billion |
| Market Size (2029) | USD 155.55 Billion |
| CAGR (2024 - 2029) | 4.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Waste Recycling Services Market Analysis
The Waste Recycling Services Market size is estimated at USD 124.23 billion in 2024, and is expected to reach USD 155.55 billion by 2029, growing at a CAGR of 4.60% during the forecast period (2024-2029).
- The increasing demand for sustainability and rapid population growth drives the waste recycling services market.
- The modern economy's escalating waste volume and complexity are increasingly endangering ecosystems and human health. Globally, an estimated 11.2 billion tonnes of solid waste are collected annually, with the decay of its organic fraction contributing to about 5% of the world's greenhouse gas emissions. Notably, waste from electrical and electronic equipment, laden with new and hazardous substances, is emerging as a top challenge in both developed and developing nations.
- Poor waste management, spanning from absent collection systems to inadequate disposal methods, leads to air pollution and contaminates water and soil. Improper landfills further contaminate drinking water, posing health risks and disease transmission. Debris dispersal harms ecosystems, while hazardous substances from electronic and industrial waste strain both urban health and the environment.
- The primary solution lies in waste minimization. When waste is inevitable, the focus shifts to material and energy recovery, alongside remanufacturing and recycling. Recycling, in particular, offers significant resource savings. For instance, recycling a tonne of paper saves 17 trees and 50% of the water typically used. Additionally, the recycling industry is a significant job creator, employing over 12 million individuals across Brazil, China, and the United States.
- On March 15, 2024, the Ministry of Environment, Forest and Climate Change (MOEFCC) announced the Plastic Waste Management (Amendment) Rules, 2024, in the Gazette of India, further refining the 2016 Plastic Waste Management Rules. Effective immediately upon publication, this amendment underscored India's commitment to combating plastic pollution. Hence, government bodies across various regions are intensifying efforts to minimize waste and promote recycling services.
Waste Recycling Services Market Trends
Municipal Segment Seeing an Upsurge in Waste Recycling Activities
With municipal waste projected to surge by two-thirds and its associated costs nearly doubling within a generation, a recent report by the UN Environment Programme (UNEP) highlights the urgent need for a significant reduction in waste generation to ensure a sustainable and affordable future.
The UNEP report forecasts that global municipal solid waste generation, which stood at 2.3 billion tonnes in 2023, will reach 3.8 billion tonnes by 2050. When considering the broader impacts of inadequate waste management—such as pollution, health hazards, and climate change—the estimated cost escalates to a substantial USD 361 billion. Failing to address waste management issues promptly could see this annual global cost soar to a monumental USD 640.3 billion by 2050, underscoring the pressing need for nations to prioritize municipal waste recycling initiatives.
China, the world's second most populous country, faces a monumental challenge, producing over 10 billion tons of waste annually, spanning industrial, agricultural, and domestic sectors. This data, released by the Ministry of Ecology and Environment in January 2024, underscores the scale of the issue. However, there are positive strides in China's domestic waste treatment. In an effort to enhance living conditions and bolster economic gains, companies like Zhao's are adopting innovative approaches. They are gathering waste from specific zones, incinerating non-recyclables to power urban areas, and employing unique methods for challenging waste, like fermenting and dehydrating fruit peels before incineration.
Saudi Investment Recycling Company (SIRC) announced plans to invest in waste-to-energy plants, aligning with the nation's ambition to achieve a 3GW waste-to-energy capacity by 2030. A key focus for SIRC is enhancing the cost-efficiency of waste-to-energy processes. Hence, regional governments are spearheading various initiatives to promote recycling endeavors.
Asia-Pacific Observing Significant Growth in the Market
Asia's rapid economic growth and urbanization are amplifying concerns about solid waste generation and management. Adding complexity, each Asian country and region boasts unique approaches to waste management and material-cycle policies despite their shared geographic region.
As the world pushes toward a circular economy, the spotlight on waste management in the Asia-Pacific market intensifies. The United Nations Centre for Regional Development reported that in 2014, the region generated a staggering 70–104 million tonnes of plastic waste. Projections indicate this number could surge to 140 million tonnes by 2030, propelled by a relentless rise in virgin plastic consumption.
While the demand for recycled plastics is on the upswing, the region grapples with a glaring deficit in waste infrastructure. However, concerted efforts in collaboration, regulation, and investment are underway, aiming to surmount this hurdle and actualize the circular economy vision.
In Asia-Pacific, mechanical recycling, especially in Northeast Asia and the Indian subcontinent, has a well-established presence. The region's current installed capacity for mechanical recycling stands at over 18 million tonnes annually. Notably, China leads, accounting for 66% of this capacity, with India following with an approximately 8% share. From 2012 to 2022, the region's mechanical recycling capacity doubled, and it has maintained an average annual growth rate of about 4% since 2018. Projections from ICIS indicate a significant surge in mechanical recycling output, from 12 million tonnes in 2023 to an estimated 35 million tonnes annually by 2040. With this, Asia-Pacific is making a surmountable effort to reduce the waste generated every day.
Waste Recycling Services Industry Overview
The waste recycling services market is fragmented in nature. The competitive landscape is diverse and dynamic. Various companies compete to provide recycling services, waste collection, sorting, processing, and disposal. Some key players in the market include Eurokey Recycling Ltd, Northstar Recycling, Triple M Metal LP, Amdahl Corp., and Interface Inc.
Small and medium-sized enterprises also play a significant role in the waste recycling services market, offering specialized services or catering to specific regions or waste streams.
Waste Recycling Services Market Leaders
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Eurokey Recycling, Ltd.
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Northstar Recycling
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Triple M Metal LP
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Amdahl Corp.
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Interface, Inc.
*Disclaimer: Major Players sorted in no particular order
Waste Recycling Services Market News
- February 2024: Clean Harbors, under Gryphon Investors, successfully acquired HEPACO. This strategic move is poised to significantly boost Clean Harbors' Environmental Services division.
- February 2024: Connecticut's Oak Ridge Waste & Recycling announced that it was set to be acquired by Interstate Waste Services. Oak Ridge, known for its robust operations in a neighboring market, offers collection and processing services. Its workforce and organizational culture align seamlessly with IWS' ethos.
Waste Recycling Services Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Current Market Scenario
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Increasing Demand for Sustainability Driving the Market
4.2.1.2 Environmental Concerns Driving the Market
4.2.2 Restraints
4.2.2.1 Regulatory Factors Affecting the Market
4.2.2.2 Infrastructure Challenges Affecting the Market
4.2.3 Opportunities
4.2.3.1 Technological Advancements Driving the Market
4.3 Value Chain/Supply Chain Analysis
4.4 Government Regulations, Trade Agreements, and Initiatives
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Technological Developments in the Waste Recycling Services Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Paper & Paperboard
5.1.2 Metals
5.1.3 Plastics
5.1.4 Glass
5.1.5 Batteries & Electronics
5.1.6 Other Products
5.2 By Source
5.2.1 Municipal (Residential and Commercial)
5.2.2 Industrial
5.2.3 Other Sources
5.3 By Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Middle East and Africa
5.3.5 South America
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Eurokey Recycling Ltd
6.2.2 Northstar Recycling
6.2.3 Triple M Metal LP
6.2.4 Amdahl Corp.
6.2.5 Interface Inc.
6.2.6 Covanta
6.2.7 Epson Inc.
6.2.8 Collins & Aikman
6.2.9 Xerox Corp.
6.2.10 Fetzer Vineyards*
- *List Not Exhaustive
6.3 Other Companies
7. FUTURE OF THE MARKET
8. APPENDIX
Waste Recycling Services Industry Segmentation
The water recycling services market encompasses the industry dedicated to treating and reusing water, emphasizing waste reduction and sustainability. This market undertakes filtration, purification, and disinfection processes to ensure water safety, catering to needs ranging from irrigation and industrial applications to potable consumption.
The waste recycling services market is segmented by product (paper & paperboard, metals, plastics, glass, batteries & electronics, and other products), source (municipal (residential and commercial), industrial, and other sources), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers market sizes and forecasts for the waste recycling services market in value (USD) for all the above segments.
| By Product | |
| Paper & Paperboard | |
| Metals | |
| Plastics | |
| Glass | |
| Batteries & Electronics | |
| Other Products |
| By Source | |
| Municipal (Residential and Commercial) | |
| Industrial | |
| Other Sources |
| By Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Middle East and Africa | |
| South America |
Waste Recycling Services Market Research FAQs
How big is the Waste Recycling Services Market?
The Waste Recycling Services Market size is expected to reach USD 124.23 billion in 2024 and grow at a CAGR of 4.60% to reach USD 155.55 billion by 2029.
What is the current Waste Recycling Services Market size?
In 2024, the Waste Recycling Services Market size is expected to reach USD 124.23 billion.
Who are the key players in Waste Recycling Services Market?
Eurokey Recycling, Ltd., Northstar Recycling, Triple M Metal LP, Amdahl Corp. and Interface, Inc. are the major companies operating in the Waste Recycling Services Market.
Which is the fastest growing region in Waste Recycling Services Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Waste Recycling Services Market?
In 2024, the North America accounts for the largest market share in Waste Recycling Services Market.
What years does this Waste Recycling Services Market cover, and what was the market size in 2023?
In 2023, the Waste Recycling Services Market size was estimated at USD 118.52 billion. The report covers the Waste Recycling Services Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Waste Recycling Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Waste Recycling Services Industry Report
Statistics for the 2024 Waste Recycling Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Waste Recycling Services analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
