Solid Waste Management Market Revenue to Surpass USD 1.2 Trillion by 2026, Growing at 2.3%: Global Market Insights, Inc.

Latin America's solid waste management market is poised to witness substantial growth during the forecast period, driven by the restructuring of the regional regulatory framework in line with waste management practices.

Global Solid Waste Management Market Growth Predicted at 2.3% Till 2026: GMI

According to latest report “Solid Waste Management Market by Waste (Municipal Solid Waste {Residential, Commercial}, Industrial Solid Waste {Equipment Manufacturing, Mining, Food Processing & Textiles, Others}), Treatment (Open Dumping, Disposal {Landfill, Recycling, Incineration/Combustion, Composting & AD}), Material (Paper & Paperboard, Metals, Plastics, Food, Textiles, Others), Regional Outlook, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of solid waste management will grow at around a 2.3% CAGR between 2020 and 2026. Increasing environmental concerns, coupled with the adoption of waste treatment technologies, are positively influencing the industry's growth.

The adoption of stringent regulations and mandates to reduce illegal dumping will drive the global solid waste management market. A growing focus on resource recovery and recycling techniques have created a favorable business scenario on a global scale.

For instance, the U.S. Environmental Protection Agency (EPA) introduced the Resource Conservation and Recovery Act (RCRA), aimed toward receding the open dumping of waste and effectively managing both non-hazardous and hazardous wastes. The introduction of sustainability mechanisms across the waste treatment and disposal ecosystems will further raise market growth substantially.

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The solid waste management market from municipal solid waste will expand on account of the growing urban population, resulting in overburdening of the existing waste treatment facilities. For instance, according to World Bank, in 2019, over half of the global population lives in cities and is anticipated to double by 2050. The imminent rise is the non-hazardous waste generation rates due to growing economic prosperity, along with large-scale migration from rural areas, will significantly alter the market dynamics.

The open dumping segment from treatment will witness a significant decline, owing to increasing direct and indirect risks towards public health, along with the associated environmental hazards. Such practices are dominantly prevalent across low-income countries due to the absence of proper control systems. Governments and non-profit organizations are investing significantly toward the development of infrastructure and processes, which will further subdue the open dumping of solid waste.

Solid waste management from the paper and paperboard segment is set to witness growth on account of the growing packaging industry. The rise of the e-commerce industry has fueled the generation of cardboard related consumables. Growing quantities of paper waste, including newspaper, magazines, and books, most notably across tier-2 and tier-3 cities, will proliferate the business landscape.

Latin America's solid waste management market is poised to witness substantial growth during the forecast period on account of the rapid increase in the urban population. As per the UN-Habitat in 2018, Latin American cities will compose of 90% of the region’s population by 2050. Restructuring of the regulatory framework in line with waste management practices will augment the industry outlook.

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Some major findings of the global solid waste management market report include:

  •  The demand for solid waste management is expanding across the industrial, commercial and residential sectors on account of increasing public health risks and the adoption of stringent environmental mandates.
  •  Surging investments toward the deployment of efficient waste treatment facilities and infrastructure are anticipated to drive the market growth.
  •   Major players operating across the solid waste management industry are Biffa Group, Waste Management, Inc and Waste Connections amongst others.
  •  Positive outlook toward the implementation of sustainable waste disposal practices and technologies, along with growing awareness toward the negative impacts on the environment associated with mismanagement of solid waste, will favor the market trends.

Table of Contents (ToC) of the report:

Chapter 3 - Solid Waste Management Market Insights

3.1    Industry segmentation

3.2    Industry landscape, 2015 – 2026 (USD Billion)

3.3    Industry ecosystem analysis

3.3.1    Vendor matrix

3.4    Innovation & technology landscape

3.4.1    Waste Management, Inc

3.4.2    SUEZ

3.4.3    Veolia

3.4.4    Plasco Conversion Systems

3.5    Regulatory landscape

3.5.1    National waste management regulatory landscape

3.5.2    Urban waste management regulatory landscape

3.5.3    U.S.    Resource Conservation and Recovery Act    Solid Waste Disposal Act of 1965    Hazardous and Solid Waste Amendments of 1984 (HSWA)

3.5.4    Europe    Environment Action Programme to 2020

3.5.5    Singapore

3.5.6    Philippines    Ecological Solid Waste Management Act of 2000 (RA 9003)

3.5.7    India

3.5.8    Indonesia    Municipal Solid Waste law    National Industrial Policy and Environmental Protection and Management law

3.5.9    China    Renewable Energy Law

3.5.10    Japan    Waste Management and Public Cleansing Law

3.5.11    South Korea    Wastes Control Act    Act on Promotion of Saving and Recycling of Resources

3.6    Commercial Status of WTE Plants

3.7    Price trend analysis

3.8    Gate /Tipping Fee

3.8.1    Landfill gate fee for U.S.

3.9    Feed-in tariff

3.10    Industry impact forces

3.10.1    Growth drivers

3.10.2    Industry pitfalls and challenges

3.11    Porter’s analysis

3.12    Competitive landscape, 2019

3.12.1    Strategy dashboard

3.13    PESTEL analysis

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Categories: Environmental and Waste Management

Tags: Disposal, Food, Industrial Solid Waste Management, Landfill, Metals, Municipal Solid Waste Management, Open Dumping, Paper & Paperboard, Plastics, Recycling, Solid Waste Management Market, Textiles

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Arun Hegde
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Corporate Sales, USA, Global Market Insights, Inc.
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