Waste Recycling Services Market (By Application: Industrial, Municipal; By Product: Paper & Paperboard, Plastics) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2022-2030

The global waste recycling services market was surpassed at USD 56.2 billion in 2021 and is expected to hit around USD 81.66 billion by 2030, growing at a CAGR of 4.24% from 2022 to 2030.

Report Highlights

• The paper &paperboard segment led the market and accounted for more than 41.2% of the global revenue share in 2021.
• The bulbs, batteries &electronics segment is likely to register a CAGR of 6.89% over the forecast period.
• The municipal segment led the market and accounted for 53.66% of the global revenue share in 2021 .
• The demand for waste recycling in industrial applications is likely to grow at the fastest CAGR of 6.1% over the forecast period.
• Asia Pacific led the market and accounted for 40.13% of the global revenue share in 2021. 

Rising awareness pertaining to effective waste disposal in sustaining human and animal health has resulted in the development of numerous disposal systems and processes, which is expected to complement market growth.

Waste recycling service is an important component of urban infrastructure owing to its ability to protect both the environment and human health, which is a political as well as environmental concern. Waste management is intertwined with a variety of concerns, including urban lifestyles, resource consumption patterns, and other socioeconomic and cultural aspects.

Rapid industrialization has boosted the consumption of harmful chemicals, resulting in the generation of a substantial amount of hazardous waste. Furthermore, increased agricultural production has boosted the livestock & agricultural crop wastes along with agro-industrial by-products. Thus, increased generation of waste is likely to boost the demand for services for waste recycling.

Governments across the world are embracing the public-private partnership model to match the operational knowledge provided by the private sector. Rising focus on greening the waste recycling industry with emphasis on the 3Rs i.e. reduce, reuse, and recycle is critical to achieving the environmental, economic, and social goals of sustainable development, thereby driving the market growth.

Scope of The Report

Product Insights

The paper &paperboard segment led the market and accounted for more than 41.2% of the global revenue share in 2021, owing to the increased generation of paper waste through packaging, newspapers, and containers. Changing consumer trends and demographic growth have boosted the growth of the e-commerce sectors, thereby augmenting the packaging demand. This, in turn, is expected to have a positive impact on the recycling of paper & paperboard over the forecast period.

Growing awareness pertaining to plastic pollution and sustainable waste management through various campaigns and programs is expected to drive the overall plastic recycling market. Factors, such as appropriate legislation, adequate funding, strong technical support, and public awareness, are expected to boost the demand for plastic waste recycling services.

The bulbs, batteries &electronics segment is likely to register a CAGR of 6.89% over the forecast period. The demand for electronics, such as screens, mobiles, telecommunication devices, laptops, and refrigerators, has increased significantly due to falling prices of electronics, rising disposable incomes, and early replacement of electronics. This has increased electronic waste and boosted the demand for e-waste recycling, which is expected to drive market growth.

Electronic waste is another category of waste that is expected to grow at a faster rate. E-waste is different from municipal or industrial waste and consists of all types of electronic equipment and devices. They are likely to contain potentially harmful materials, including metals, such as lead, cadmium, and beryllium, owing to which e-waste requires specialized waste management treatment for reuse.

Application Insights

The municipal segment led the market and accounted for 53.66% of the global revenue share in 2021 . Municipalities are undertaking favorable policy decision for waste management that provides an opportunity not only to avoid the negative effects of waste, but also to recover resources, realize economic, environmental, & social advantages, and take a step towards a more sustainable future, thereby augmenting the market growth.

Each country’s municipalities treat domestic trash extensively. The trash disposal/recycling networks of municipalities pose a significant obstacle for private enterprises seeking to enter the residential and commercial sectors. Companies, on the other hand, are recycling garbage generated by these industries through public-private partnerships.

The demand for waste recycling in industrial applications is likely to grow at the fastest CAGR of 6.1% over the forecast period. Increased investments in various industries, as well as stringent rules governing discharges from these businesses, are expected to drive the demand for waste recycling services in industrial applications. Furthermore, high demand for agro-based products and organic meals is likely to boost the market growth over the forecast period.

Waste reduction, reuse, recovery, and recycling are effective and high-impact methods of lowering Greenhouse Gas (GHG) emissions. Waste recycling provides an alternate source of raw resources for the industry, resulting in the reduction in the demand for virgin resources, extraction, transportation, and processing, which contribute significantly to global emissions.

Regional Insights

The market in developing regions is estimated to grow owing to the increasing awareness, coupled with efforts undertaken by government authorities for efficient waste recycling. Asia Pacific led the market and accounted for 40.13% of the global revenue share in 2021. The population expansion and rapid industrialization& urbanization have resulted in a significant increase in the usage of natural resources and waste generation. The region is home to 28 megacities, each with a population of more than 10 million people.

All these factors are likely to boost the demand for waste recycling services in the region over the forecast period. The demand for such services in India is expected to grow at a considerable CAGR over the forecast period. India is regarded as one of the key markets for these services, owing to rapid industrialization, growing population, and economic growth, which has contributed to increased waste generation. Positive changes in the country’s economic conditions are projected to boost industry development over the forecast period.

Europe and North America are expected to account for a significant share in the overall waste recycling services market on account of developed infrastructure and stringent regulations mandating waste management across various industries. Germany has the highest global recycling rate, followed by South Korea, Austria, and Wales. These countries recycle more than 52% of their municipal garbage, whereas the U.S. has a recycling rate of 34.3%, which is predicted to rise significantly over the forecast period as a result of the increased awareness raised by green revolutionists, governments, and charitable groups.

Key Players

• Eurokey Recycling, Ltd.
• Northstar Recycling
• Triple M Metal LP
• Amdahl Corp.
• Interface, Inc.
• Covanta
• Epson, Inc.
• Collins & Aikman
• Xerox Corp.
• Fetzer Vineyards
• Biffa

Market Segmentation

• By Product Outlook

• Paper & Paperboard
• Metals
• Plastics
• Glass
• Food
• Bulbs, Batteries & Electronics
• Yard Trimmings
• Others
• By Application Outlook
• Municipal
• Industrial
• Others
• By Regional Outlook
• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• France
• Italy
• U.K.
• The Netherlands
• Asia Pacific
• China
• India
• Japan
• Australia
• Central & South America
• Brazil
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia