Hazardous Waste Management Market Size

Hazardous Waste Management Market size was valued at USD 16.96 billion in 2023 and is set to cross USD 34.44 billion by 2036, expanding at more than 5.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of hazardous waste management is evaluated at USD 17.72 billion. The growth of the market can be attributed to the increasing industrial activities across the globe, rapid rate of urbanization in emerging economies, and stringent government regulations associated with the proper disposal of hazardous waste. According to the data provided by the World Bank, in 2019, the total industrial output of the world accounted for a GDP share of 24.789%, out of which the same quantity for manufacturing was 14.562%. Along with these, robust growth of research and development activities in medical organizations in developed and developing nations is also expected to raise the demand for hazardous waste management in the forthcoming years. Furthermore, growing development of innovative techniques for waste recycling in several industrial verticals such as manufacturing, food & beverages, and chemicals is projected to offer ample growth opportunities to the hazardous waste management market in the near future.