Waste Recycling Services Market Size Is Projected to Reach $84.8 Billion By 2028 | CAGR: 5.4%: Polaris Market Research

NEW YORK, Oct. 27, 2021 /PRNewswire/ -- The global waste recycling services market size is expected to reach USD 84.87 billion by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR of 5.4% from 2021-2028. The market growth is primarily driven by growing awareness regarding the recycling process, increasing initiatives by the government for waste product recycling, and a rise in a push for the reuse of wastage materials. A rise in the number of recycling manufacturers and increasing R&D investments are creating a positive outlook for the global market. Moreover, increasing government subsidies on products are allowing manufacturers to cut down the material costs, thereby propelling the use of recycling services across the globe.

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Key Highlights of Waste Recycling Services Market

• Based on product, the paper & paperboard segment generated the largest revenue share and is expected to contribute higher value during the forecast period. A rise in the generation of paper waste through containers, newspapers, and packaging coupled with a shift in consumer trends fosters the overall growth of the e-commerce industry, thereby propelling the packaging demand.
• By application, the municipal recycling segment led the major growth for the waste recycling services market. The growing urban population, favorable government policies, and a rise in investments contribute to the substantial growth of this segment. 
• Backed by continuously increasing population, increasing disposable income, rise in R&D investments, and supportive government policies are projected to create a positive outlook for the players operating in this region.
• ExxonMobil, a leading oil and gas company has announced its plan to build a plastic waste advanced recycling facility in Texas. This facility is expected to initiate its operation during the end phase of 2022.

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Regional Developments

Among all the major regional markets, the Asia Pacific region accounted for the higher contribution in the overall growth of the waste recycling services market. A rise in presence of a leading manufacturer and efforts undertaken by government authorities in Asian countries are driving the market growth. Increasing urbanization and a huge rise in the regional population are anticipated to further contribute to the regional market growth. The regional market in North America is expected to witness noteworthy growth, owing to stringent regulations regarding the mandatory policies for waste management.

Competitive Outlook

Key market participants are focusing on the integration of advanced procedures and entering new markets to increase their customer base. They are also emphasizing boosting their sales rate with the help of lucrative investments and collaboration with the world's leading brands.

The prominent market participants are Biffa plc, BioMedical Waste Solutions, LLC, Clean Harbors, Inc, Covanta Holding Corporation, Daiseki Co., Ltd, Eurokey Recycling, Ltd., FCC Environment Limited, Hitachi Zosen Corporation, Northstar Recycling, REMONDIS SE & Co. KG, Republic Services, Stericycle, SUEZ, Triple M Metal LP, Urbaser, Veolia Environnement S.A., Waste Connections, Waste Management, Inc. are some of the key players operating in the global.

Target Audience

• Supply Side: Waster Recycling Services Provider
• Demand Side: Municipal, Industrial Applications
• Regulatory Side: National Solid Waste Management Commission

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Polaris Market Research has segmented the waste recycling services market report on the basis of product, application, and region:

Waste Recycling Services, Product Outlook (Revenue – USD Million, 2016 – 2028)

• Paper & Paperboard
• Metals
• Plastics
• Glass
• Food
• Bulbs, Batteries & Electronics
• Yard Trimmings
• Others

Waste Recycling Services, Application Outlook (Revenue – USD Million, 2016 – 2028)

• Municipal
• Industrial
• Others

Waste Recycling Services, Regional Outlook (Revenue – USD Million, 2016 – 2028)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• Italy
• France
• Spain
• Austria
• Netherlands
• Asia Pacific
• China
• Japan
• India
• Indonesia
• Malaysia
• South Korea
• Latin America
• Brazil
• Argentina
• Mexico
• Middle East & Africa
• Israel
• Saudi Arabia
• South Africa
• UAE

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About Polaris Market Research

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SOURCE Polaris Market Research