Industrial Waste Management Market is expected to grow at a CAGR of 10.2% during the forecasting period (2022-2029)
Industrial waste management is how industrial manufacturing enterprises dispose of waste items produced by their activities. Industrial waste is any non-hazardous waste generated by industrial processes, i.e., waste that is not regulated under the Resource Conservation and Recovery Act (RCRA). It can include wastewater, manufacturing wastes, building and demolition materials and shipping containers such as drums.
Industrial waste management includes composting, landfill, segregation and waste recycling. Composting is done when garbage is biodegraded and applied to the soil; it improves the soil by adding more organic material. Segregation is the process of sorting garbage into different types for proper disposal. At the same time, recycling is reusing or repurposing waste materials to reduce the quantity of garbage generated. These procedures use various waste management technology found in waste management facilities.
Stringent government regulations globally related to the disposal of industrial waste drive the market share of the industrial waste management market
Stringent government regulations globally related to the disposal of industrial waste
Handling hazardous waste is a serious difficulty that needs a proper management strategy. The consumer's discretionary income rises and the early disposal of useable products has increased waste. As the volume of hazardous waste generated by pharmaceuticals, healthcare and manufacturing grows, the market's demand for industrial waste management increases.
The government is likewise concerned about the developing environmental challenges and is working hard to discover measures to eliminate rubbish and scrap. As a result, many governments have legislated laws and regulations for enterprises to follow regarding industrial waste management. All industries must follow these standards; failure to do so can result in substantial fines or even the seizure of the business or factory.
For instance, in July 2020, the J.R. Simplot Company, based in Boise, was fined US$ 775,000 for breaking federal waste and community protection rules at its phosphoric acid and fertilizer factory outside Rock Springs. According to the government, Simplot disposed of hazardous materials in a phosphogypsum stack system, a garbage pile of calcium sulfate leftovers that grew to cover 420 acres and was roughly 200 feet high.
Therefore, companies invest in the waste management business to fulfill their needs. For instance, in October 2019, Pratt End-User' mill in Wapakoneta, Ohio, opened and would handle nearly 180,000 tons of mixed paper during its initial years of manufacturing. In ten years, they will have increased to 360,000 tons. The garbage discarded by industry into the environment causes problems for all and requires effective management. As a result, the waste management market is expected to grow during the forecast period.
The high cost associated with industrial waste management that incurs additional investments is a major factor hampering the market growth of industrial waste management.
The waste products released from factories can be recycled, but doing so is highly expensive and small & medium-sized businesses cannot afford to invest this much money in waste management. By 2021, the Americas produced around 250 million tons of trash annually, with 34% of that waste being recycled. Many countries have small and medium-sized local industries that produce many scrap materials. Still, they cannot spend significant money on adequately managing this garbage. The market expansion during the forecast period is hampered by the fact that some places of the world don't even have the infrastructure to support waste collection.
Thus, the high cost of purchasing and running waste management solutions is anticipated to restrain market expansion. Additionally, trash management requires much labor and can be expensive in terms of employee compensation. Similarly, trash transportation expenses, which cover the cost of collection and further transportation to landfills or recycling facilities, can consume a significant portion of the allocated money. Income levels have a significant impact on cost recovery for garbage services. Due to the investments required for its operation, the waste management market has become rather stiff, which hinders market expansion.
COVID-19 Impact Analysis
WHO classified COVID-19 as a pandemic and it has affected millions in more than 200 countries. The pandemic scenario has badly hit the industrial sector. Because of the travel restrictions put in place by various governments, the supply chain was hampered. The export and import operations were suspended and the countries that import from other nations have had many difficulties. There were no workers available and many enterprises were shut down due to the widespread lockdown implemented in many countries. Several industries are working at 50% of their potential, which lowers the trash produced by the industries, eventually resulting in a drop in the use of industrial waste management services.
On the other hand, the pandemic is causing the medical waste segment to grow significantly. Medical gloves, face masks, disposable PPE kits and other disposable items are all seeing significant market growth. Compared to the typical trash of roughly 275 tonnes, medical waste in Barcelona jumped by 350%, generating about 1,200 tonnes of waste such as face masks and general gloves.
According to UN-Habitat, 2020, the globe is already facing difficulties in waste management, where 2 billion people lack access to garbage collection and 3 billion people lack access to waste disposal. However, COVID-19 and the associated social restrictive policies amplify the sector's already delicate situation.
Industrial Waste Management Market Scope
By Type, By Product, By Process, By Application, By Sales Channel, and By Region
Report Insights Covered
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.
Fastest Growing Region
Largest Market Share
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The global industrial waste management market is segmented into end-user, services and regions.
Rising waste generation during natural gas and crude oil exploration and production coupled with increasingly stringent regulatory bodies improve the demand for industrial waste management services in oil and gas production units
Based on end-user, the global industrial waste management market is segmented into manufacturing, coal combustion, mining, oil & gas production and others. Oil & gas production dominated the industrial waste management market in 2021.
According to the American Petroleum Institute (API), every foot drilled in U.S. generates roughly 1.21 barrels of total drilling waste. Solid drilling trash accounts for roughly half of the total drilling waste. Approximately 139,961,305 barrels of solid drilling waste are generated, equivalent to 29,097,984 cubic yards of solid drilling trash.
Wastes generated during natural gas and crude oil exploration and production are regulated under state and RCRA regulations. Many state governments have specific regulations and guidance for the exploration and production of waste. In addition, some states have established legislation and regulations, including waste management standards, in reaction to the increased usage of hydraulic fracturing.
Moreover, gas and oil producers have experimented with novel techniques that combine horizontal drilling with increased stimulation in recent years. The profile of oil and gas wastes has changed due to these new processes, known as fracking, both radioactivity and volume produced. Naturally-occurring radionuclides, also known as Naturally Occurring Radioactive Materials (NORM), are found in geologic strata that contain oil and gas resources.
Therefore, authorities such as the EPA and the FAO have established regulatory limits. For example, the EPA published the Oil and Gas Extraction Effluent Guidelines and Standards, including waste emissions from field exploration, drilling, production and well management activities on land, coastal areas and offshore and were last revised in 2016. As a result, businesses are pushed to construct waste management plants and maintain them regularly.
High industrial waste production and the presence of key players offering industrial waste management services in North America improve the market for such services in the region
North America has several benefits over other places, such as more cost-effective waste management processes and a growing significance of a clean environment and zero pollution. The region's principal end consumers of industrial wastewater management are electricity, pharmaceuticals, municipal, pulp & paper, food & beverage, oil & gas and refineries.
U.S. has been one of the world's most wasteful countries, producing 239 million metric tons of garbage annually or around 1,600 to 1,700 pounds per person. While some perceive it as a threat to our environment and society, others see it as a business opportunity. Therefore, U.S. dominates the industrial waste management chemicals market in North America in value and volume.
In U.S., the solid waste management industry is led by two commercial companies, Republic Services and Waste Management. Out of the 2,627 landfills in the region, they own around 480. The stock values of both companies have doubled in the last five years, indicating that they have outperformed the market. Moreover, private companies have also played an important role in identifying new ways to profit from garbage other than tipping fees. One of these is landfill mining and reclamation, which involves collecting and recycling materials from older landfills.
Further, Canada and Mexico are developing countries in the region with large oil production and waste management industry. As a result, the region's industrial waste management market has the potential to grow.
The industrial waste management market is highly competitive with the presence of local and global companies. Some prime companies contributing to the market's growth are Daiseki Co, Clean Harbors, Waste Management Inc, Veolia Environment S.A, Suez Environment S.A, Advanced Disposal Services, Covanta, Remondis, Hitachi Zosen Corporation, Biffa Group and others.
The major companies are adopting several growth strategies such as acquisitions, product launches and collaborations, contributing to the global market growth of global industrial waste management.
Suez Environment S.A,
Overview: Suez SA, a French-based utility company, operates largely in water and waste management sectors. The company has its head office in La Défense, Paris. In 2015, all the group's brands became Suez. Suez Environnement signed three significant water treatment contracts in India in April 2014, totaling 61 million euros. After GDF-Suez changed its name to Engie in July 2015, the organization Suez Environnement shortened its name to become Suez, making the name Suez once again available. Suez purchased Sembcorp's 40% ownership in their joint venture to provide waste management and water treatment in Australia in September 2015.
Waste treatment and disposal: The company has developed advanced industrial waste management services to store residual waste safely. The company designs and operates storage facilities for hazardous and non-hazardous residual waste to ensure it is managed and eco-friendly.
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