Liquid Waste Management Market size was valued at USD 95.61 billion in 2023 and is expected to reach USD 131.8 billion by the end of 2036, expanding at around 2.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of liquid waste management is evaluated at USD 97.52 billion.
The growth of the market can be attributed to the increasing rate of urbanization around the world, rapid population growth, and rising number of manufacturing activities resulting in the generation of toxic chemicals. According to the World Bank, the total population of the world was 7.753 billion in 2020, up from 7.509 billion in 2017. The global population has only witnessed growth since 1960. Along with these, surge in socio-economic awareness associated with limited natural resources, and escalating awareness of consumers about proper waste disposal and recycling are also projected to drive market growth in the upcoming years. Furthermore, strict regulations imposed by various local, state and federal governments regarding proper waste management is expected to provide abundant growth opportunities to the market in the near future.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
2.5% |
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Base Year Market Size (2023) |
USD 95.61 billion |
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Forecast Year Market Size (2036) |
USD 131.8 billion |
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Regional Scope |
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The market is segmented by end user into automotive, oil and gas, textile, pharmaceutical, iron and steel, and others, out of which, the pharmaceutical segment is anticipated to hold the largest share in the global liquid waste management market on account of the highly toxic nature of the effluents emitted from this industry and stringent government regulations for managing medical waste. Apart from these, the oil and gas segment is also assessed to grab a significant share by the end of 2030, owing to the high profitability and large amount of waste water generated in several operations of this industry. Additionally, on the basis of source, the residential segment is predicted to grab the largest share during the forecast period, which can be credited to the increase in production of wastewater in residential areas.
Our in-depth analysis of the global market includes the following segments
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By Service |
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By Source |
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By End-User
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On the basis of geographical analysis, the global liquid waste management market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is poised to dominate majority revenue share by 2036, propelled by growing population in emerging countries such as China and India, increasing water requirements, and rise in water recycling activities in the region. As per the Asian Development Bank, by 2030, the gap between water demand and supply will become 40 percent. Over 90 percent of the region’s population already face an imminent water crisis.
North America Market Analysis
Moreover, the market in North America is predicted to grab the largest share during the forecast period, which can be credited to the stringent government regulations associated with liquid waste management, and large number of ongoing activities in the oil and gas industry in the region. In addition, growing penetration of waste management in the industrial, residential and commercial sectors is also evaluated to boost the region’s market growth in the future.
November 2020: Ovivo, Inc. announced that it had acquired ALAR, which is a manufacturer and provider of wastewater treatment chemicals and systems. The aim of this acquisition is to enhance the product portfolio of the company.
Author Credits: Rajrani Baghel
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