Waste Recovery and Recycling Market Report 2024

This Waste Recovery And Recycling market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The waste recovery and recycling market size has grown rapidly in recent years. It will grow from $104.01 billion in 2023 to $115.26 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth during the historic period can be attributed to heightened environmental awareness, regulatory mandates, rising landfill costs, resource scarcity, public demand for sustainability, and corporate social responsibility initiatives.

The waste recovery and recycling market size is expected to see rapid growth in the next few years. It will grow to $174.98 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The anticipated growth during the forecast period can be attributed to stringent government regulations, increasing consumer demand for sustainable products, a stronger emphasis on circular economy principles, advancements in waste management infrastructure, rising investments in green technologies, and growing awareness of climate change impacts. Key trends expected include the expansion of advanced sorting technologies, growth in electronic waste recycling, adoption of biodegradable materials, the rise of automated waste management systems, the development of decentralized recycling facilities, broader implementation of circular economy practices, and enhanced use of artificial intelligence for waste sorting and management.

The growth of the waste recovery and recycling market is expected to increase as waste generation rises. Waste generation refers to the creation or accumulation of waste materials resulting from various activities, including industrial processes, household consumption, and commercial operations. This includes all types of waste - solid, liquid, and gaseous - produced during the production, consumption, or disposal of goods and services. Factors such as a growing population, higher consumption rates, urbanization, and increased production of goods contribute to the rise in waste generation. Waste recovery and recycling play a crucial role in managing this increase by reprocessing materials, reducing landfill volume, and conserving resources through reuse and recycling. For example, the United Nations Environment Programme reported in February 2024 that municipal solid waste production is projected to grow from 2.1 billion metric tons in 2023 to 3.8 billion metric tons by 2050. Thus, the escalating waste generation is fueling the expansion of the waste recovery and recycling market.

Leading companies in the waste recovery and recycling sector are focusing on developing advanced robotic systems, such as AI-powered waste sorting robots, to enhance efficiency in material separation, improve sorting accuracy, and optimize recycling processes. These robots, equipped with artificial intelligence technologies, are designed to automate the separation and categorization of waste materials using computer vision, machine learning, and sensor technologies. For instance, in February 2024, ZenRobotics, a technology company based in Finland, introduced ZenRobotics 4.0. This new generation of waste sorting robots uses advanced artificial intelligence and machine learning to enhance the efficiency and precision of waste separation and recycling. The ZenRobotics 4 system aims to improve the accuracy of sorting recyclable materials by leveraging these cutting-edge technologies.

In December 2022, Macquarie Asset Management, an investment management company based in Australia, acquired DTG Recycle for an undisclosed amount. This acquisition is intended to expand Macquarie’s presence in the waste management sector, enhance its capabilities in recycling and sustainable waste solutions, and accelerate the development of innovative waste recovery technologies and operational efficiencies. DTG Recycle is a US-based company specializing in recycling and waste disposal services.

Major companies operating in the waste recovery and recycling market are Veolia Environnement S.A., Kimberly-Clark Corporation, Waste Management Inc., Novelis Inc., Ecolab Inc., Republic Services Inc., Waste Connections Inc., GFL Environmental Inc., Clean Harbors Inc., Evoqua Water Technologies LLC, Reworld Waste LLC, Casella Waste Systems Inc., Recology Inc., Rumpke Consolidated Companies Inc., Viridor Ltd, FCC Environment Limited, EnviroServ Waste Management Ltd, Merrick & Company, RoadRunner Recycling Inc., Norpac LLC, Wheelabrator Technologies Holdings Inc., Lakeshore Recycling Systems LLC.

North America was the largest region in the waste recovery and recycling market in 2023. The regions covered in the waste recovery and recycling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

Waste recovery and recycling involve converting waste materials into reusable resources. Waste recovery focuses on collecting and treating discarded materials to extract valuable resources or energy, while recycling specifically processes materials such as paper, plastics, metals, and glass to create new products or raw materials.

The primary sources of waste recovery and recycling include metals, plastics, glass, textiles, and organic waste. Metal recycling entails recovering both ferrous and non-ferrous metals from discarded products and manufacturing processes. Collection methods vary and include curbside collection, drop-off centers, buy-back centers, and other approaches. The processes of collection, processing, and disposal differ based on applications in industrial, commercial, residential, and agricultural settings. End-users of waste recovery and recycling services include those involved in recycling, reuse, energy recovery, and landfills.

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

The waste recovery and recycling market consists of revenues earned by entities by providing services such as material recovery, chemical recycling, and organic waste recycling. The market value includes the value of related goods sold by the service provider or included within the service offering. The waste recovery and recycling market also includes sales of insulation materials, cleaning rags, recycled concrete, and gypsum drywall. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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