Waste Recycling Services Market (By Product: Metals, Paper and Paperboard, Metals, Glass, Bulbs & Batteries, Electronics, Yard Trimmings, Food, Others; By Application: Industrial, Municipal, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 – 2030


The global waste recycling services market size was estimated at USD 57.69 billion in 2021 and is expected to hit over USD 88.01 billion by 2030, poised to grow at a CAGR of 4.8% during the forecast period 2022 to 2030.

Waste Recycling Services Market Size 2022 to 2030

Growth Factors

The growing burden of various waste materials owing to the high volume of economic activities across the globe have resulted in huge demand for the waste recycling services. The waste recycling services have become an important part of the urban infrastructure that helps to protect both the human health and environment. The accumulation of plastic wastes is a major issue that results in the marine pollution. The rapid urbanization and rapid industrialization across the globe has resulted in the high consumption of various hazardous chemicals that generates huge amount of wastes. Moreover, the rising agricultural production and rising amount of wastages from the agro-industries is expected to drive the demand for the waste recycling services across the globe. The growing government initiatives to reduce the wastages and increasing emphasis on the recycling of waste materials is fueling the growth of the global waste recycling services. Moreover, the rising awareness regarding the sustainability and environment protection is encouraging the adoption of waste recycling services. The research and development on the development of innovative technologies that can efficiently serve the waste recycling initiatives is further fueling the growth of the waste recycling services market.

The growing concerns related to waste management and challenges pertaining to the disposal of wastes are expected to spur the market growth. The increased adoption of disposable packaging materials and various disposals and consumables across various industry verticals such as food and beverages, healthcare, personal care, and consumer goods is resulting in the burgeoning demand for the waste recycling services. The tremendous expansion of the recycling industry and the surging awareness regarding the waste recycling systems is expected to have a significant impact on the market growth. The growing adoption of the various electronic devices across the globe has resulted in the generation of huge electronic wastes. Moreover, the recycled trash has been set up in many countries that promote the growth of the recycling management. Furthermore, the growing government investments in setting up recycling plants in various locations are driving the growth of the waste recycling services market. The growing investments by government and corporate sector to promote sustainability are fueling the demand for the waste recycling services. The outbreak of the COVID-19 pandemic negatively affected the global waste recycling market in 2020. A decline was observed in the industrial sector owing to the lockdown restrictions and the closure of all the manufacturing plants and facilities across the globe.

Scope of the Waste Recycling Services Market

Report Coverage Details
Market Size US$ 88.01 Billion by 2030
Growth Rate CAGR of 4.8% from 2022 to 2030
Largest Market Asia Pacific
Fastest Growing Market North America
Base Year 2021
Forecast Period 2022 to 2030
Segments Covered Product, Application, Region
Companies Mentioned Eurokey Recycling, Ltd., Northstar Recycling, Triple M Metal LP, Amdahl Corporation, Interface, Inc., Covanta, Epson, Inc., Collins & Aikman, Xerox Corp., Fetzer Vineyards, Zanker Road Landfill, Rubicon Global, RU Recycling- und Umweltdienst GmbH, Advanced Disposal Services, Biffa

 

Product insights

Based on the product, the paper and paperboard segment dominated the global waste recycling services market in 2020. The paper and paperboard segment accounted for a market share of around 42% in 2020. The high generation of the paper wastes through newspapers, paper packaging, and containers. Furthermore, the surging penetration of the e-commerce across the globe is generating huge volume of paper and paperboard packages. Moreover, the surging adoption of paper based packaging to reduce the single-sue plastic wastes is driving the growth in the volume of paper wastes. These factors have boosted the growth of the paper and paperboard segment in the past few years.

The electronic wastes segment is estimated to be the most opportunistic segment during the forecast period. This is attributed to the surging adoption of various consumer electronics such as smartphones, watches, televisions, laptops, desktops, and so on. E-wastes needs special attention as it is different from industrial or municipal wastes. The e-wastes contain several harmful materials such as calcium, beryllium, and lead. The surging demand for the various electronic gadgets across the globe is expected to drive the growth of this segment in the forthcoming years.

Application Insights

The municipal segment accounted for a market share of around 53% and dominated the global wastes recycling services market in 2020. The increased investment by the government and the favorable policies by the municipalities pertaining to the waste management have significantly fostered the growth of this segment. The surging number of waste management activities by the municipalities to shift towards a sustainable future is fueling the market growth.

Waste Recycling Services Market Share, By Application, 2020 (%)

The industrial is expected to be the fastest-growing segment during the forecast period. The rapid industrialization across the globe and growing investments in the industrial development are the major factors that drive the growth of the industrial segment in the waste recycling services market. The stringent government regulations pertaining to the wastes from the industries have driven the demand for the waste recycling services.

Region Insights

Asia Pacific dominated the global waste recycling services market, garnering a market share of around 40% in 2020. This is attributed to the increased industrialization in the region owing to the government policies that attracts FDIs. The Asia Pacific region has become the manufacturing hub of the globe owing to the cheap availability of the factors of production in the region. Countries like China and India are known for manufacturing goods at low cost. This results in the generation of huge wastes. Moreover, the generation of huge e-wastes owing to the huge adoption of the consumer electronics and various other electronic devices across different industries is expected to drive the growth of the waste recycling services market in Asia Pacific. These factors are presenting huge growth opportunities in this region and hence Asia Pacific is also estimated to be the most opportunistic segment during the forecast period.

Waste Recycling Services Market Share, By Region, 2020 (%)

North America and Europe held a significant market share in 2020. The increased awareness regarding the waste management systems and increased government initiatives to promote sustainability are the major factors that have driven the growth of the waste recycling services market. Germany, Austria, and Wales are among the top countries which recycles maximum wastes. The recycling rate of these countries is over 52% and the recycling rate of US is around 35%. The stringent government regulations pertaining to the industrial wastes are expected to further drive the growth of the waste recycling services market in the forthcoming years.

Key Market Developments

The waste recycling services market is moderately fragmented with the presence of several local companies. These market players are striving to gain higher market share by adopting strategies, such as investments, partnerships, and acquisitions & mergers. Companies are also spending on the development of improved products. Moreover, they are also focusing on maintaining competitive pricing.

  • In March 2019, Veolia and Nestle entered into a partnership for the development of recycling program for the plastic wastes.
  • In February 2020, Suez signed an agreement with the Shanghai Chemical Industry Park to collect all the hazardous wastes from the industrial park.

Some of the prominent players in the global waste recycling services market include:

  • Eurokey Recycling, Ltd.
  • Northstar Recycling
  • Triple M Metal LP
  • Amdahl Corporation
  • Interface, Inc.
  • Covanta
  • Epson, Inc.
  • Collins & Aikman
  • Xerox Corp.
  • Fetzer Vineyards
  • Zanker Road Landfill
  • Rubicon Global
  • RU Recycling- und Umweltdienst GmbH
  • Advanced Disposal Services
  • Biffa

Segments Covered in the Report

By Product

  • Metals
  • Paper and Paperboard
  • Glass
  • Bulbs & Batteries
  • Electronics
  • Yard Trimmings
  • Food
  • Others

By Application

  • Industrial
  • Municipal
  • Others

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Philippines
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • North Africa
    • South Africa
    • Rest of the Middle East & Africa

Frequently Asked Questions

What is the current size of waste recycling services market?
According to Precedence Research, the global waste recycling services market size was reached at USD 57.69 billion in 2021 and is anticipated to surpass around USD 88.01 billion by 2030.
The global waste recycling services market is growing at a CAGR of 4.8% during the forecast period 2022 to 2030.
the major players operating in the unmanned aerial vehicle (UAV) drones market are Eurokey Recycling, Ltd., Northstar Recycling, Triple M Metal LP, Amdahl Corporation, Interface, Inc., Covanta, Epson, Inc., Collins & Aikman, Xerox Corp., Fetzer Vineyards, Zanker Road Landfill, Rubicon Global, and Biffa.
The increasing volume of various waste materials owing to the surging economic activities across the globe has significantly driven the demand for the waste recycling services market.
Asia Pacific accounted for a market share of around 40% in 2020 and will remain its dominance in the global waste recycling services market.

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