New York, NY, Sept. 16, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Industrial Waste Management Market By Service (Collection, Recycling, Landfill, and Incineration), By Waste Type (Manufacturing, Energy, Agriculture, Nuclear, Power Plant, Oil & Gas, Construction & Demolition, Chemical, Mining, and Others), By Type (Non-Hazardous and Hazardous), and By End-User (Pharmaceutical, Aerospace & Defense, Pulp & Paper, Food & Beverage, Electronics, Biotechnology, Automobile, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global industrial waste management market was USD 1,249.64 billion in 2018 and is expected to reach USD 2,513.74 billion by 2025, growing at a CAGR of 10.5% between 2019 and 2025.
Industrial waste management is a method of utilizing a diverse set of mechanical and chemical processing practices on the industrial wastes to diminish their hazard potential. Industrial waste management is critically important for the conservation of the environment, protection of human health, and for restoring the capacities of functioning units in manufacturing plants. Moreover, industrial wastes account for around 50% share of the overall waste generated globally. Industrial waste is the most hazardous waste type, as it comprises various hazardous impurities, such as industrial chemicals, toxic metal particles, grease, oils, raw material residuals, dirt, gravel, masonry, concrete, scrap metals, solvents, scrap lumber, and even vegetable matter from restaurants.
Browse through 71 Tables & 43 Figures spread over 110 Pages and in-depth TOC on “Global Industrial Waste Management Market Size & Share 2018: By Industry Type, Applications, Segments, Analysis and Forecast to 2025”.
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Rapid industrialization is the major factor driving the industrial waste management market globally. Elevated industrial output has inherently increased the volumes of industrial wastes generated, which has further stimulated the industrial waste management market growth. Furthermore, industrial waste management is effective in waste recycling that can be used for core industrial applications or any other productive purposes, which results in improvised cost-efficiency of industrial operations. Enhanced environmental awareness is also fuelling the industrial waste management market development. Moreover, industrial waste causes long-term degradation of natural resources, which has led to stringent norms and regulations set by international regulatory bodies, national governments, and local authorities for mandatory, safe, and careful industrial waste management. However, low awareness, an insufficient supply of capital, and ineffective inspection and monitoring of industrial waste management in developing nations may hamper this global market.
The industrial waste management market is segmented on the basis of service, waste type, type, and end-user. By service, the industrial waste management market includes incineration, landfill, collection, and recycling. The collection segment held the largest share, more than 50%, of the global market in 2018 and is estimated to dominate the market in the future as well. According to waste type, the global market includes manufacturing, energy, agriculture, nuclear, power plant, oil and gas, construction and demolition, chemical, mining, and others. Manufacturing waste held the largest share of the global market in 2018. By type, the industrial waste management market includes non-hazardous and hazardous waste. In 2018, the non-hazardous waste dominated the global market and will hold its position in the global market in the years ahead as well.
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Additionally, hazardous waste management is estimated to show a higher CAGR over the forecast time period. The end-user segment of the global market comprises pharmaceutical, food and beverage, aerospace and defense, electronics, pulp and paper, biotechnology, automobile, and others. The pharmaceutical sector accounted for the largest market share in 2018 globally, as this sector releases highly toxic and organic wastes that are capable of threatening human life. Thus, requires waste management for its operations.
The Asia Pacific region held the largest share of the industrial waste management market in 2018 globally and will exhibit robust growth over the forecast time period. This regional dominance can be attributed to the substantial growth of key end-user industries, such as automobile, electronics, and biotechnology, steep regional industrialization, elevated industrial output and increased regional industrial wastes volumes. Furthermore, growing investments in domestic manufacturing and infrastructure developments are expected to further fuel this regional market. Various initiatives by the Government of India, such as “Make in India,” are aimed at increasing the domestic production of various industries, which will further drive the industrial waste management market in the Asia Pacific.
Browse the full “Industrial Waste Management Market By Service (Collection, Recycling, Landfill, and Incineration), By Waste Type (Manufacturing, Energy, Agriculture, Nuclear, Power Plant, Oil & Gas, Construction & Demolition, Chemical, Mining, and Others), By Type (Non-Hazardous and Hazardous), and By End-User (Pharmaceutical, Aerospace & Defense, Pulp & Paper, Food & Beverage, Electronics, Biotechnology, Automobile, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/industrial-waste-management-market
North America held the second-largest share of the industrial waste management market in 2018 globally. This region is historically known for the presence of several well-established industries, such as oil and gas, automobile, pharmaceuticals, nuclear power plant, mining, and food and beverages. The flourishing industrial sector in the region has contributed to the region’s formidable position in the global landscape. Moreover, North America is characterized by enhanced environmental awareness, easy access to required capital, superior technical knowledge, and competent workforce required for industrial waste management.
Europe accounted for the third-largest share of the industrial waste management market in 2018 globally. Europe has enacted stringent guidelines and regulations for industrial waste management. The UK, France, Germany, and Italy hold major shares of this regional market. Many key players of the industrial waste management market, such as Mid UK Recycling, Hulsey Environmental Services, and Russel Reid Waste Management, are headquartered in Europe.
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The Middle East and Africa is expected to register significant growth in the industrial waste management market in the future. The region is historically a key supplier of petroleum products globally. With the increased production of crude oil, the region is expected to show notable growth in the industrial waste management market. Latin America is expected to grow modestly in this global market, owing to low environmental awareness and the lack of capital and technical knowledge.
Some major players of the industrial waste management market are Stericycle, Waste Management, Sembcorp Industries, Veolia, Suez, Reclay Group, Daiseki, Enviroserv Waste Management, Clean Harbors, WeatherSolve Structures, Summit Equipment, and Superior Water Screen.
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This report segments the global industrial waste management market into:
Global Industrial Waste Management Market: Service Analysis
- Collection
- Recycling
- Landfill
- Incineration
Global Industrial Waste Management Market: Waste Type Analysis
- Manufacturing Waste
- Energy Waste
- Agriculture Waste
- Nuclear Waste
- Power Plant Waste
- Oil and Gas Waste
- Construction and Demolition Waste
- Chemical Waste
- Mining Waste
- Others
Global Industrial Waste Management Market: Type Analysis
- Non-Hazardous
- Hazardous
Global Industrial Waste Management Market: End-User Analysis
- Pharmaceutical
- Aerospace and Defense
- Pulp and Paper
- Food and Beverage
- Electronics
- Biotechnology
- Automobile
- Others
Global Industrial Waste Management Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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