Industrial Waste Management Market size was over USD 9.51 trillion in 2023 and is anticipated to reach USD 18.16 trillion by 2036, growing at around 5.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of industrial waste management is estimated at USD 9.9 trillion. The growth of the market can be attributed to the increasing need to efficiently manage waste from industries, backed by increasing number of industries globally. With the rapid industrial development, the waste generated by these industries is mounting, which is estimated to fuel the demand for industrial waste management system. Moreover, increasing environmental awareness amongst the public, and accountability of industrialists for the impact of the waste generated, is estimated to drive the market growth. The pattern of waste management is changing to a more environment friendly disposal of waste, which is another factor expected to boost the market growth. Furthermore, stringent waste management regulations by the governments of various nations, is also anticipated to promote the market growth. For instance, United Nations Environment Program (UNEP) launched the Cleaner Production Program in 1989, which aimed to reduce the toxic waste produced by manufacturing industries.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
5.1% |
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Base Year Market Size (2023) |
USD 9.51 trillion |
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Forecast Year Market Size (2036) |
USD 18.16 trillion |
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Regional Scope |
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The global industrial waste management market is segmented by services into collection, incineration, recycling, landfill, and others, out of which, the collection segment is anticipated to hold the largest revenue share in the market during the forecast period, as this is the primary step for waste management. The increasing environment awareness is estimated to boost the segment growth. Meanwhile, the recycling segment is anticipated to grow at the highest CAGR over the forecast period, owing to the strict government regulations for reducing the waste produced by industries.
Our in-depth analysis of the global industrial waste management market includes the following segments
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By Services
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By End-User Industry |
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Regionally, the global industrial waste management market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America is expected to account for largest revenue share by 2036, on the back of large number of industries in the region, combined with higher awareness amongst the public as well as the government. The industrial waste produced in the United States amounted at around 55 million tons by 1975, which increased to 265 million tons by the early 1990s. Presently, the industrial waste generation has crossed 5 billion tons. The increasing industrial waste is anticipated to boost the market growth in the region.
APAC Market Statistics
The industrial waste management market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period on the back of increasing industrial development, presence of major key players in the region, and stringent government policies for the disposal of industrial waste.
June, 2021: Clean Harbors Inc. announced its agreement with Vertex Energy to acquire the used motor oil collection, and re-refining assets of Vertex Energy. The agreement will let Clean Harbors to expand its business to new states in the United States.
Author Credits: Dhruv Bhatia
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