Industrial waste may include any material that is rendered useless during a manufacturing process in factories, industries, or mills. Some examples of industrial wastes are chemical solvents, pigments, sludge, metals, sandpaper, paper products, industrial by-products, metals, and radioactive wastes. Industrial wastes that contain toxic pollutants require specialized treatment solutions. Methods used for industrial waste management may include landfill, recycling, incineration, energy recovery, and biological reprocessing among others. Some other methods to treat these wastes include sewage treatment which can treat waste consisting of pollutants such as biochemical oxygen demand.
Rising demand for waste management solutions especially in developed economies, and increasing urbanization and industrialization in emerging economies are key factors driving growth of the global industrial waste management market. In addition, growing awareness about waste management in industries, technological advancements in recycling equipment, and stringent environmental regulations in developed economies are other factors expected to fuel growth of the global waste management market over the forecast period.
However, increasing number of problems associated with hazardous waste management is a major factor restraining growth of the global industrial waste management market. Additionally, increasing amount of industrial waste, and lack of initiatives by industries to minimize waste in developing economies are other factors expected to hamper growth of the global waste management market over the forecast period.
The global industrial waste management market report has been segmented on the basis of type, service, and region. On the basis of region, the global industrial waste management market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Currently, the market in Asia Pacific dominates the global industrial waste management market in revenue terms owing to increasing industrialization leading to increase in amount of industrial waste generated in countries in the region. The market in Europe accounted for second-highest revenue share in the global industrial waste management market, followed by markets in North America, Latin America, and Middle East & Africa respectively. The market in North America is also expected to witness significant growth over the forecast period.
Prominent players in the global industrial waste management market include Sembcorp Industries, Enviro-Serv Inc., Clean Harbors Inc., Suez Environment, Waste Management Inc., Veolia Environnement S.A., Stericycle Inc., SA Waste Holding Pvt Ltd., Himark BioGas Inc., and Reclay Group.
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