Waste Recycling Services Global Market Report 2024

Waste recycling services involve recovery operations wherein waste materials are collected and reprocessed into new products, materials, or substances for original or alternative purposes. This process includes collecting and reprocessing waste materials using various technologies to clean and transform them into new reusable products. Recycling waste offers several advantages, including reducing the amount of waste sent to landfills and incinerators, preventing pollution, conserving natural resources, saving energy, creating job opportunities, and generating economic benefits.

The main types of waste in the waste recycling services market include compost and food waste, glass and fiberglass, metal scraps, waste paper, and others. Food and compost waste recycling typically involves reprocessing materials such as eggshells and banana peels to create high-quality soil improvers or fertilizers. Additionally, it may involve generating electricity that can be fed back into the national grid. These recycling services find applications in various sectors, including municipal, agricultural, construction, industrial, and others. The services provided include collection and disposal services.

The waste recycling services market research report is one of a series of new reports that provides waste recycling services market statistics, including waste recycling services industry global market size, regional shares, competitors with a waste recycling services market share, detailed waste recycling services market segments, market trends and opportunities, and any further data you may need to thrive in the waste recycling services industry. This waste recycling services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The waste recycling services market size has grown strongly in recent years. It will grow from $58.53 billion in 2023 to $62.22 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth observed in the historic period can be attributed to various factors, including increased awareness of environmental sustainability, stringent waste disposal regulations, rising volumes of generated waste, growing emphasis on resource conservation, and regulatory pressures to limit the use of landfills.

The waste recycling services market size is expected to see strong growth in the next few years. It will grow to $78.43 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period can be attributed to various factors, including the adoption of circular economy practices, government initiatives for waste reduction and recycling, increasing demand for recycled materials, expansion of e-waste recycling services, and the ongoing process of urbanization. Major trends expected in the forecast period include the development of recycling technologies, the integration of robotics and automation in recycling facilities, innovation in the recycling of construction and demolition waste, and the implementation of smart waste management systems.

The waste recycling services market is experiencing growth driven by an increasing awareness of plastic pollution. Plastic pollution, resulting from the accumulation of synthetic plastic items in the environment, poses threats to ecosystems, animals, and human populations, contributing to issues like global warming and climatic changes. Governments globally are responding by implementing schemes and policies to reduce plastic usage and raise awareness of plastic pollution. For example, in March 2021, India's Union environment ministry proposed a nationwide ban on the manufacturing, use, sale, import, and handling of specific single-use plastic products from 2022. These initiatives create awareness of pollution and contribute to the expansion of the waste recycling services market.

The growth of the waste recycling services market is expected to be fueled by the increasing volume of waste generated worldwide. Waste generation encompasses the production of items that are discarded, regardless of whether they are recycled or disposed of in landfills. Waste recycling services play a crucial role in mitigating the adverse effects of waste on human health, the environment, and overall aesthetics. According to estimates from The World Bank in February 2022, the world generated approximately 2.24 billion tons of solid waste in 2020, equating to a daily waste footprint of 0.79 kilograms per person. With a projected increase of 73% from 2020 levels to 3.88 billion tons in 2050 due to population growth and urbanization, the rise in waste generation is set to drive the waste recycling services market.

Technological advancements in waste recycling are reshaping the waste recycling services market. Recent innovations enable the conversion of waste into power, utilizing biogas to transform waste into usable energy. Technologies like plasma arc recycling use super-hot plasma torches to recover a significant portion of metal from various objects. For example, Sensoneo, a Europe-based waste management services and solutions company, introduced a waste level smart sensor in September 2021, employing ultrasonic beams to assess fill levels in bins and detect different types of waste.

Major companies in the waste recycling services market are intensifying their focus on introducing home recycling pilot programs to enhance their competitive position. Home recycling pilot programs are designed to evaluate different recycling strategies and technologies before broader implementation. In October 2022, Casella Waste Systems, Inc., a US-based waste management and recycling company, partnered with TerraCycle to launch the TerraCycle Pouch for hard-to-recycle items, encouraging consumers to divert waste from landfills, engage with their communities, and receive rewards for their efforts. The aim is to recycle more than 20 hard-to-recycle materials and provide additional services.

In February 2021, VLS Recovery Services, LLC, a US-based leader in waste management and recycling services, acquired Pacific Treatment Environmental Services (PTES). This acquisition expands VLS's waste business on the West Coast and into Mexico, with PTES being a Mexico-based company offering waste management, recovery and recycle services, industrial services, and other environmental services.

Major companies operating in the in the waste recycling services market report are Advanced Disposal Services Inc., Casella Waste Systems Inc., China Recycling Development Co. Ltd., Clean Harbors Inc., Covanta Holding Corp., Eurokey Recycling Ltd., Interface Inc., Kayama Corp., Northstar Recycling Company, Xerox Corporation, Remondis SE & Co. KG., Republic Services Inc., Rubicon Global, Dowa Eco-System Co. Ltd., Fetzer Vineyards, Kcarp Ltd., Tsuneishi Kamtecs Corp., Waste Management Inc., Veolia Environnement S. A., Suez Environnement S. A., Stericycle Inc., Waste Connections Inc., GFL Environmental Inc., US Ecology Inc., Heritage-Crystal Clean Inc., BioHiTech Global Inc., Renewi plc, Biffa plc, FCC Environment UK Limited, ECO Green Equipment

North America was the largest region in the waste recycling services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the waste recycling services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the waste recycling services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The waste recycling services market includes revenues earned by entities by providing services such as plastic recycling, metal recycling, wood recycling, glass recycling, and WEEE recycling. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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