The Industrial Waste Management Market size is expected to reach USD 47.76 billion in 2028 and register a revenue CAGR of 4.3% over the forecast period, according to the latest report by Reports and Data. Growing demand for plastics from household and commercial sectors is a key factor driving market revenue growth. Plastic is an essential part of everyday life, and most of the things consumed are being made of or packaged in plastic materials. Plastic waste is non-biodegradable and can cause widespread environmental disasters. The whole world produces large amounts of plastic waste, which comes from households and industrial sectors such as electronics, packaging, automobiles, agriculture, and construction. Technological advancements and the emergence of novel systems for sorting, reprocessing, and collecting recyclable plastics are opening new options in connection with public health, economic, conservation, and industrial policies. Some factors such as rapid urbanization, industrialization, and increasing awareness of environmental hazards are driving market revenue growth.
Plastic recycling is important for society because it aids in energy recovery and reduces carbon footprint. For every ton of recyclable plastic, about seven yards of landfill space can be saved and about a certain amount of energy can be saved to manufacture a new kind of plastic material. Plastic is relatively inexpensive and recycled plastics are used to make a wide variety of products such as clothes, bottles, carpets, films, garbage bags, and containers
Key companies profiled in the Industrial Waste Management report are Veolia Environnement S.A., Industrial Waste Management, Inc., SUEZ, Republic Services, Clean Harbors, Inc., Biffa plc, Covanta Holding Corporation, Stericycle, Inc., Remondis SE Co. KG, and ADS Waste Holdings, Inc.
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Market Overview:
The chemical industry is expected to register significant revenue growth over the coming years driven by a recovery in domestic demand due to rising prices of crude oils and better exports. The chemical and material industry has undergone radical changes owing to long-term trends such as the evolution of advanced technologies such as the industrial internet of things (IIoT), artificial intelligence, machine learning, automation, and efficient data management tools. Increasing demand for novel chemical products such as soaps and detergents, particularly amid the COVID-19 pandemic, improvements in operational efficiency, and the development of energy-efficient manufacturing and production processes are some other factors expected to drive market revenue growth going ahead. In addition, the rapid adoption of trends such as sustainability and digitalization have further contributed to revenue growth of the materials and chemicals industry.
Industrial Waste Management Market Segmentation based on Types: Polypropylene (PP)
Polyurethane (PUR)
Polystyrene (PS)
Polyethylene Terephthalate (PET)
Polyvinyl Chloride (PVC)
High-Density Polyethylene (HDPE)
Low-Density Polyethylene (LDPE)
Industrial Waste Management Market Segmentation based on Application: Packaging
Building Construction
Textile
Automobile
Furniture
Others
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