June 10, 2020
As per the report titled ‘U.S. Municipal Solid Waste Management Market By Source, By Treatment, By Material, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report LLC, U.S. municipal solid waste management market is expected to record a healthy growth rate during 2020-2026.
Growing demand for effective and sustainable waste treatment solutions is driving the growth of U.S. municipal solid waste management market.
Municipal solid waste (MSW) comprises of daily use items like appliances, clothing, batteries, product packaging, food scraps, furniture, newspapers, bottles, paint, and grass clippings. This waste generally comes from homes, businesses, hospitals, and schools. Municipal solid-waste management involves the collection, treatment, and disposal of aforementioned solid material.
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Practices like composting, recycling, and waste prevention reduces the amount of waste to be disposed. Waste prevention involves designing products such that the amount of waste to be thrown is reduced and overall waste is less toxic for the environment. Composting refers to collection of organic waste like yard trimmings and food scraps to store them under conditions encouraging natural break down. In addition, the byproduct of composting can further be utilized as natural fertilizer. Whereas, recycling is the recovery of useful materials like metals, plastic, paper, and glass from garbage, which can then be used for manufacturing new products, thus lowering the need for virgin raw material. Thus, effective use of these sustainable solutions is expected to impel the U.S. MSW management industry in the coming years.
Based on the source, the market is bifurcated into commercial and residential. Residential segment is expected to see significant gains over the forecast period, on account of rapidly increasing population. Meanwhile, commercial segment is poised to witness robust growth due to ongoing investments in service sector and its subsequent expansion.
On the basis of treatment, the market is split into disposal and open dumping, wherein the disposal segment is predicted to accrue significant revenue share in the forthcoming years, owing to increasing adoption of sustainable waste management practices.
In terms of material, plastics segment is slated to see strong growth through 2026, due to growing environmental concerns associated with improper disposal of plastics. Alternatively, wood waste management segment is slated to record substantial growth, pertaining to increase in construction and demolition activities across the United States resulting in mounting amount of debris.
As per the regional analysis, development of sustainable waste management practices is expected to drive the industry outlook in East North Central region. On the other hand, West South Central region will continue to witness a positive growth in the coming years, owing to a well-established tourism sector in the region, mainly in Texas. MSW waste management industry in South Atlantic region is also reckoned to see considerable gains, fueled by growing investments in the real estate sector. Whereas, the industry in West North Central region is driven by stringent government measures regarding effective disposal of harmful solid trash.