The global market for solid waste management is expected to expand at a CAGR of 3.5% during the forecast period of 2024 to 2032. The phrase "solid waste" refers to any unwanted or unused solid material that is generated by human activities. The majority of solid waste is produced by residential, commercial, and industrial operations. The majority of what is termed solid trash consists of organic matter, paper waste, plastic and glass waste products, and metal waste goods. The term "solid waste management" (or simply "waste management") refers to the practice of collecting, processing, and disposing of waste with the preservation of public health and the natural environment in mind. Depending on whether the garbage is industrial or municipal, whether it is in an urban or rural location, and whether the country is developed or developing, solid waste management procedures vary. Since the primary objective of solid waste treatment is to maintain human and environmental health, it is given a higher priority for the improvement of living quality and the growth of the economy as a whole.
People are more knowledgeable about the advantages and disadvantages of hazardous solid waste management on human health and the environment as a result of the growing availability of solid waste information in huge quantities throughout time. In addition to having favorable effects on people's health and the environment, proper waste management also benefits society and the economy. The management of garbage contributes to an improvement in the aesthetics of the surrounding environment and protects natural resources by reducing the concentrations of air, water, and soil contaminants. The early clearance of trash contributes to improved personal hygiene and the prevention of the spread of diseases transmitted by vectors. In addition to this, it lowers emissions of hazardous greenhouse gases like methane and carbon monoxide, which are the principal contributors to the important issue of global warming.
The recycling of waste materials that can be put to beneficial use contributes to the preservation of raw materials, lightens the economic load, and aids in the attainment of community development goals. Furthermore, leading organizations such as the International Solid Trash Association are conducting public awareness efforts throughout Asia and Africa's emerging nations to raise an understanding of the benefits and necessity of waste management. These campaigns are being conducted in Cambodia, Laos, and Myanmar, among others. Consequently, it is predicted that the market would continue to expand throughout the period covered by the forecast.
Product creation, product introduction, growth, and maturity, as well as product disposal or recycling, are typical phases of an electronic product's life cycle. The end of a piece of electronic equipment's life cycle, technological advancements, or changing consumer preferences may all bring it to the point where it can be recycled. Technology is growing rapidly, resulting in the invention of both new electronic gadgets and improved versions of existing products, such as computers, mobile phones, and televisions. In a similar line, an increase in the purchasing power of individuals leads to a reduction in the period of time that electronic products can be preserved. Every year, new models of mobile phones and other consumer electronics are introduced; the older versions of these devices are either discarded or sold on numerous websites with the idea of being repurposed. As the lifespan of electronic items continues to diminish, an increasing amount of e-waste will be generated. Due to the accumulation of electronic waste, there is an urgent need to recycle electronic items, which in turn necessitates appropriate management of electronic waste. Since personal computers and mobile phones first came onto the market, the typical lifespan of consumer electronics and the components that go into creating those gadgets has been gradually declining. Once predicted to endure more than 40 years, the average lifespan of electronics is now between one and a half and thirteen years, with the majority averaging four to five years.
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The process of handling solid waste is not only challenging but also time-consuming. Consequently, there is a substantial initial investment as well as a significant operating cost for the garbage-collecting vehicles, containers, and processing equipment. Waste management necessitates a bigger number of workers, each of whom must carry out a distinct set of duties. Because employees are expected to work in a variety of different locations, it can be challenging to keep them adequately motivated to guarantee that operations operate smoothly. In addition, solid waste can quickly damage land and water resources; therefore, it must be treated with care and the support of people who have obtained the proper training. This will result in an increase in the overall operation's operating expenses.
The term "waste segregation" refers to the separation of dry trash from moist trash. This is a crucial step in the waste management process since it paves the way for succeeding procedures such as composting, recycling, and incineration. The objective is to reduce the amount of waste delivered to landfills and, ultimately, to prevent land, water, and air pollution. For the recycling of rubbish and plastic products, as well as other materials such as paper, metals, and wood products, it is vital to collect and sort the waste efficiently. The inappropriate disposal of waste is a substantial danger for municipalities and other agencies involved in waste management administration. Those who live in close proximity to dirty environments or landfills are more susceptible to negative health impacts if rubbish is disposed of improperly. Inappropriate trash disposal, which can lead to incorrect waste management, can cause skin irritations, blood infections, respiratory issues, growth difficulties, and even reproductive complications.
Urban areas are being transformed into "smart cities" in order to promote long-term, sustainable economic growth. The United Nations projects that by 2030, cities will be home to 60 percent of the world's population, and one in three individuals will name a metropolis of at least 500,000 people their permanent home. More than a hundred smart city construction projects are presently underway in various regions of the world, presenting a substantial number of opportunities for the construction sector. The necessity for construction and roadways gives waste management sector participants potentially lucrative opportunities.
Petrochemicals are the principal raw ingredients necessary for the manufacturing of virgin polymers. Among the petrochemicals are petroleum and natural gas. Recycled materials are the source of polyethylene terephthalate plastic (PET). One of the difficulties of plastic recycling is ensuring that the material recovered through recycling is in its purest condition. PET plastics have no residual value once they have been consumed, however, they can be recycled into goods such as new containers and fleece clothing. During the creation of plastic products, a variety of additives, including fillers and colorants, are used. In most instances, recycling companies are unaware of the additives added to plastic, which has an impact on the recycling of plastic products.
When recovering energy through a variety of thermochemical processes, separating plastic from other waste streams is one of the more difficult tasks. The separation of different types of plastics into their respective piles is a crucial step in many waste management strategies. Compared to the manufacturing of new plastic from petrochemicals, which is generally inexpensive or economical, the sorting and separating of plastic (according to its numerous grades, types, and additive mixtures) is labor-intensive and costly.
During the period from 2024 to 2032, the industrial waste category is anticipated to continue to be the largest form of garbage on the market. Depending on the type of rubbish being dealt with, the market can be divided into industrial waste and municipal garbage. The industrial waste group is both the largest and the fastest-growing of these. It is generally accepted that industries generate the most solid waste. Rapid industrialization in developing economies is the primary factor driving the expansion of this market category. Manufacturers are needed to appropriately dispose of industrial waste in order to meet the government's stringent regulations. Because of this, the demand for efficient waste management services has skyrocketed. Circular economies and the recycling of materials as a way of accomplishing sustainable objectives are contributing to the rise in demand for suitable industrial waste management services.
The category of municipal rubbish is further subdivided into subcategories for waste types such as organic waste, paper waste, plastic waste, glass and metal waste, and others. During the period of the projection, it is projected that the rising urbanization that is occurring around the globe would create expansion opportunities for this market sector. In 2018, more than 55 percent of the world's population resides in urban areas, according to a United Nations report titled "2018 Revision of the World Urbanization Prospects." It is expected that this proportion would rise to 68% by the end of the year 2050.
The collecting sector dominated the market in 2023, according to these statistics. The collection of solid waste involves a significant amount of labor and accounts for the largest portion of the total expenditures connected with solid waste management. It is a complex task that needs the selection of optimal collection routes and the implementation of efficient collection equipment. This procedure is also quite time-consuming.
In 2023, the segment dealing with liquidations held the second-largest market share. This industry is segmented further into incineration, landfilling, and open dumps. Open dumps and landfills are two of the most prevalent techniques for disposing of municipal and industrial solid waste, respectively. Due to the careful planning, building, and management of contemporary landfills, both industrial and municipal waste may be disposed of in a safe and responsible manner. In addition, landfills can improve the quality of low-grade soil, allowing the site to be repurposed as a park or playground.
Recycling and composting are subcategories within the larger category of processing. Recycling accounted for the biggest share, since the majority of processed trash is recycled to satisfy the objectives of sustainable goals and economic benefits in terms of raw material requirements. This is due to the fact that recycling helps satisfy both requirements. Recycling not only reduces the need for landfilling and incineration, but it also helps preserve the natural environment.
Modern landfills are facilities for disposing of solid waste that is well-engineered and well-managed. To ensure that landfills comply with current regulations, they must be created, positioned, operated, and supervised. In addition, they are constructed with the intention of protecting the environment from any contaminants that may be present in the waste stream. It is unlawful to create landfills in environmentally sensitive areas, and environmental monitoring equipment is utilized during the placing procedure. These monitoring systems search for any hint that groundwater or landfill gas may be contaminated. The Resource Conservation and Recovery Act imposes stringent controls on the construction, operation, and eventual closure of landfills (RCRA).
In 2023, the residential sector was the end-user sector with the largest share of the expanding waste management business. This category includes waste collected from both single-family and multi-family residences. Household waste consists of discarded plastic bags, consumer durables, fast-moving consumer goods (FMCG) products, toys, e-waste products, household hazardous wastes, and additional packaging materials. In addition, an increase in disposable income and a shift in consumer preference toward online shopping have significantly contributed to an increase in the amount of waste plastic generated by the residential sector.
Residents of large housing units, such as apartment complexes, are more conscientious about sorting their trash before disposal than those who live in neighborhoods with single-family homes. According to information published by the Government of Korea, private-sector recycling agencies are responsible for the comprehensive processing of wastes such as paper, waste metals, cans, and bottles that are separated into discrete piles for recycling purposes. In the majority of cases, these organizations recycle 30 to 50 percent of the total volume of these goods. Due to a lack of plastic recycling facilities, only 13 percent of all plastics are collected. Local governments and the Korea Resource Recovery and Reutilization Corporation, therefore, provide collection stations with recyclable and reusable plastics.
European countries held the largest share of the market in 2023. The bulk of European nations has high per capita incomes and superior solid waste collection and processing infrastructure. As a result, European countries have an average waste collection rate that is relatively high. This region is home to a high number of waste-to-energy plants, which contributes to the growth of the industry. Approximately 500 facilities in Europe are currently operational and convert waste to power. In addition, the European Union has established comprehensive regulations over many years in order to improve waste management and reduce greenhouse gas emissions. Consequently, the demand for waste management services throughout Europe is expanding.
North America held the second-greatest market share of any region in the world. The United States held the largest market share in North America in 2023, and it is predicted that this share would increase by 2.5% during the forecast year. In terms of the quantity of solid waste it generates, the United States ranks among the top five nations. The rate of garbage collection exceeds 98%. It is projected that the United States will keep its position as the leader in the global market throughout the projection period. This is due to the well-established collection, processing, and disposal procedures and the presence of big waste management businesses such as Waste Management Inc., Clean Harbors Inc., and Covanta Holdings Corp.
Asia-Pacific held the third-largest share of the global market in 2023. In addition, it is expected that the region will emerge as the one with the highest growth rate during the forecast year, registering a CAGR of 4.5%. China holds the largest share of the market in the Asia-Pacific region, followed by India. Even though China and India have a lower rubbish collection rate compared to industrialized nations, industrialization and population expansion are driving market growth in these nations. According to a United Nations report, the combined populations of China and India account for more than 37 percent of the global population. Currently, China is home to more than 1.4 billion people, while India is home to around 1.3 billion individuals. The expansion of the industry in industrialized nations such as Japan, South Korea, and Australia, among others, is driven by severe government regulations on the handling of garbage and the widespread implementation of waste management systems.
Key organizations that operate on a global scale have invested a large amount of money in the development of new waste management technologies to acquire a competitive edge in the market. The top waste management companies, like SUEZ Group and Veolia Environment, are embracing merger and acquisition tactics to expand their geographic footprints and the types of services they offer consumers. In addition, these companies are making substantial expenditures in the construction of new facilities in order to expand the range of services they offer and meet the rising client demand. Using waste management campaigns, the majority of waste management companies collaborate with regional environmental and government authorities to raise awareness about the health benefits of good waste treatment. Key sales and marketing strategies employed by market leaders to increase their revenue growth are ecologically friendly and intelligent waste management and social media marketing. Few businesses are ready to get into long-term contracts and agreements with local governments in order to continue providing solid waste management services. Clean Harbors, Inc., Hitachi Zosen Corporation, SUEZ, Covanta Holding Corporation, OMNI Conversion Technologies, Inc., Keppel Seghers, Wheelabrator Technologies, Inc., Biffa, China Everbright Environment Group Limited, Cleanaway, Stericycle, Sims Limited, Recology, Waste Management, Inc., Veolia, and Waste Connections are the leading companies in this market segment.
