LONDON, June 29, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the waste recycling services market, the growing awareness about plastic pollution is driving the growth of the waste recycling services market. Plastic pollution is the buildup of synthetic plastic items in the environment to the point that they pose a threat to animals and their habitats, as well as human populations. This pollution causes the planet to degrade, posing many problems such as global warming and other climatic changes. Governments of various countries are launching new schemes and policies to reduce the use of plastic and create awareness of plastic pollution.
For instance, in March 2021, the Union environment ministry of India proposed a ban on the manufacturing, use, sale, import, and handling of particular single-use plastic goods across the country from 2022. Such policies are creating awareness of pollution, thereby driving the growth of the market.
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The global waste recycling services market size is expected to grow from $51.88 billion in 2021 to $54.57 billion in 2022 at a compound annual growth rate (CAGR) of 5.2%. The global waste recycling services market growth is expected to reach $67.34 billion in 2026 at a CAGR of 5.4%.
Technological developments in waste recycling are gaining prominence among the waste recycling services market trends. Recent technological advancements help turn waste into power. Industries make use of their waste and, with biogas, convert it into usable energy. Plasma arc recycling helps recover a vast majority of the metal found in vehicles or other objects with the help of a super-hot plasma torch. For instance, in September 2021, Sensoneo, a European-based waste management services and solutions company, launched a waste level smart sensor. Sensoneo Smart sensors use ultrasonic beams to assess fill levels in bins. These sensors can detect any form of garbage (mixed waste, paper, plastics, glass, textiles, bio-waste, liquids, electronics, and metal) in a variety of bins and containers.
Major players in the waste recycling services market are ADS Waste Holdings, Casella Waste Systems, China Recycling Development, Clean Harbors, Covanta Holding, Eurokey Recycling Ltd., Interface Inc., Kayama, Northstar Recycling, Parc, Remondis, Republic Services, Rubicon Global, DOWA ECO-SYSTEM, Fetzer Vineyards, KUMASEI, and Tsuneishi Kamtecs.
TBRC’s global waste recycling services industry analysis is segmented by waste type into compost and food waste, glass and fiberglass, metal scraps, waste paper, others; by application into municipal, agricultural, construction, industrial, others; by service into collection service, disposable service.
North America was the largest region in the waste recycling services market in 2021. Asia-Pacific is expected to be the fastest-growing region in the global waste recycling services market during the forecast period. The regions covered in the global waste recycling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Waste Recycling Services Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide waste recycling services market overviews, waste recycling services market analyze and forecast market size and growth for the whole market, waste recycling services market segments and geographies, waste recycling services market trends, waste recycling services market drivers, waste recycling services market restraints, waste recycling services market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
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