May 13, 2020
According to the research report titled ‘Industrial Solid Waste Management Market Size By Source, By Treatment, By Material Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global industrial solid waste management industry is expected to record a lucrative growth rate during 2020-2026.
Industrial solid waste is produced during industrial or manufacturing processes as well as from non-manufacturing activities which is treated as separate waste stream.
Rising adoption of strict environmental regulations is a major factor driving the growth of industrial solid waste management market. Increasing generation of waste from pulp & paper industry, thermal power plants and non-ferrous industry has fostered the demand for industrial solid waste management solutions. Shifting focus towards reducing amount of waste generated by source reduction or recycling is further aiding the market expansion. Advancements in waste management technologies have allowed recycling of plastics, abrasives, sands, metals, automobile scrap, glass and fly ash, which in turn is stimulating the industry outlook.
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By source, the others segment which includes rubber, pharmaceutical, construction, refining and chemical industries is predicted to expand substantially during the forecast period. High concentration of harmful chemical residues in waste generated by factories, processing centers, plants and warehouses is fueling the adoption of industrial solid waste management solutions.
As per material type, paper & paperboard segment is estimated to record a remunerative growth rate during the study period, primarily due to increasing utilization of paper materials for product packaging activities.
Meanwhile, market share from metal segment is expected to register significant growth during the forecast period. Rising concerns regarding improper disposal of heavy and ferrous metals is favoring the market scenario.
Based on the regional scope, Europe industrial solid waste management industry is expected to grow substantially during the estimated timeframe. Strict regulations concerning waste disposal in the environment are swaying the business dynamics in Europe.
On the other hand, industrial solid waste management market in Middle East & Africa is set to amass admirable returns in the subsequent years. Rapid industrialization and increasing inclination towards consumer goods have multiplied the solid waste, hence impelling the demand for industrial solid waste management solutions in MEA.
SUEZ, Waste Connections, Advanced Disposal Services Inc., Veolia Environment SA, Waste Management Inc., Stericycle Inc., Sims Metal Management, Clean Harbors Inc., Cleanaway, China Everbright International Ltd., Wheelabrator Technologies Inc., Plasco Conversion Technologies Inc., Keppel Seghers, Covanta Holding Corp., Hitachi Zosen Corp., Green Conversion Systems Inc. and Biffa Group are the major contenders in industrial solid waste management market.