According to the research report titled ‘Industrial Solid Waste Management Market Size By Source, By Treatment, By Material, Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2020 – 2026‘, available with Market Study Report LLC, global industrial solid waste management market is expected to witness substantial growth during 2020-2026.
Factors such as rapid industrialization across developing nations, rising concerns regarding public health, and adoption of strict environmental regulations are driving global industrial solid waste management market growth.
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Industrial solid waste is generated from industrial and manufacturing processes. Waste generated from non-manufacturing activities is managed as separate waste stream. Notably, pulp & paper industries produce fertilizer and lime, non-ferrous industries such as aluminum, zinc, and copper produce tailings and red mud, thermal power plants produce coal ash, allied industries produce gypsum, and integrated iron as well as steel mills produce blast furnace slag and steel melting slag. Establishments are focusing towards waste minimization by following recycling and source reduction practices, which will impel the growth of industrial solid waste management market.
With regards to source type, the industry is segmented into equipment manufacturing, food processing & textiles, mining, and others. The other segment includes pharmaceutical, chemical, construction, refining, and rubber industry. As per the report, chemical segment is poised to grow modestly over the forecast period, as this waste is generated from warehouses, processing centers, plants, and factories, and contain harmful chemicals & residues which needs to be disposed as per waste disposal guidelines.
By material type, industrial solid waste management industry is bifurcated into food, metals, paper & paperboard, textiles, plastics, and others. The paper & paperboard material segment is expected to witness significant growth in the coming years, on account of growing popularity of paper as packaging material.
Major players operating in global industrial solid waste management market size include Hitachi Zosen Corporation, Keppel Seghers, Biffa Group Ltd., Veolia Environnement S.A., Covanta Holding Corporation, Wheelabrator Technologies Inc., Waste Connections, China Everbright International Ltd., Advanced Disposal Services Inc., Clean Harbors Inc., Stericycle Inc., Waste Management Inc., Green Conversion Systems Inc.,
Meanwhile, market from metal segment is also projected to grow at a commendable pace through 2026, due to growing environmental concerns regarding improper disposal of ferrous and heavy metals.
As per regional overview, Europe industrial solid waste management market size is expected to expand continuously owing to rising adoption of strict environmental laws for industrial waste disposal. Whereas, Middle East & Africa market is predicted to witness rapid growth during 2020-2026, due to growing industrialization along with increasing focus towards manufacturing goods.
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