At what pace is the waste recovery and recycling market growing, and what is its estimated value?
The waste recovery and recycling market size has grown rapidly in recent years. It will grow from $115.26 $ billion in 2024 to $128.06 $ billion in 2025 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to rising environmental awareness, regulatory mandates, increasing landfill costs, resource scarcity, public pressure for sustainability, and corporate social responsibility initiatives.
The waste recovery and recycling market size is expected to see rapid growth in the next few years. It will grow to $193.17 $ billion in 2029 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to stringent government regulations, growing consumer demand for sustainable products, increased focus on circular economy principles, improvements in waste management infrastructure, rising investment in green technologies, and escalating awareness of climate change impacts. Major trends in the forecast period include the expansion of advanced sorting technologies, growth in electronic waste recycling, adoption of biodegradable materials, the rise of automated waste management systems, development of decentralized recycling facilities, expansion of circular economy practices, enhanced integration of artificial intelligence for waste sorting and management.
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What are the top drivers to the rising demand in the waste recovery and recycling market?
The rising waste generation is expected to propel the growth of the waste recovery and recycling market going forward. Waste generation refers to the process by which waste materials are produced or accumulated as a byproduct of various activities, such as industrial processes, household consumption, and commercial operations. It encompasses all forms of waste, including solid, liquid, and gaseous materials, generated during the production, consumption, or disposal of goods and services. The rise in waste generation is driven by factors such as a growing population, higher consumption rates, urbanization, and increased production of goods. Waste recovery and recycling help manage growing waste levels by reprocessing materials, reducing the volume of waste sent to landfills, and conserving resources through reuse and recycling. For instance, in February 2024, according to the United Nations Environment Programme, a Kenya-based agency of the United Nations, municipal solid waste production is expected to increase from 2.1 billion metric tons in 2023 to 3.8 billion metric tons by 2050. Therefore, rising waste generation is driving the growth of the waste recovery and recycling market.
How is the waste recovery and recycling market segmented?
The waste recovery and recyclingmarket covered in this report is segmented –
1) By Type: Metal, Plastic, Glass, Textiles, Organic Waste
2) By Collection Method: Curbside Collection, Drop Off Centers, Buy-Back Centers, Other Collection Methods
3) By Process: Collection, Processing, Disposal
4) By Application: Industrial, Commercial, Residential, Agricultural
5) By End-User: Recycling, Reuse, Energy Recovery, Landfill
Subsegments:
1) By Metal: Ferrous Metals, Non-Ferrous Metals, Precious Metals, E-Waste Recycling
2) By Plastic: PET (Polyethylene Terephthalate), HDPE (High-Density Polyethylene), PVC (Polyvinyl Chloride), LDPE (Low-Density Polyethylene), Polypropylene (PP), Polystyrene (PS)
3) By Glass: Clear Glass, Colored Glass, Mixed Glass, Container Glass, Flat Glass
4) By Textiles: Clothing Recycling, Fabric Recycling, Carpet Recycling, Textile Waste from Manufacturing
5) By Organic Waste: Food Waste, Yard Waste, Agricultural Waste, Green Waste Recycling
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Who are the top competitors in the waste recovery and recycling market?
Major companies operating in the waste recovery and recycling market are Veolia Environnement S.A., Kimberly-Clark Corporation, Waste Management Inc., Novelis Inc., Ecolab Inc., Republic Services Inc., Waste Connections Inc., GFL Environmental Inc., Clean Harbors Inc., Evoqua Water Technologies LLC, Reworld Waste LLC, Casella Waste Systems Inc., Recology Inc., Rumpke Consolidated Companies Inc., Viridor Ltd, FCC Environment Limited, EnviroServ Waste Management Ltd, Merrick & Company, RoadRunner Recycling Inc., Norpac LLC, Wheelabrator Technologies Holdings Inc., Lakeshore Recycling Systems LLC
What significant trends should we anticipate in the waste recovery and recycling market over the forecast period?
Major companies operating in waste recovery and recycling are developing advanced robotic systems, such as artificial intelligence (AI)-powered waste sorting robots, to enhance efficiency in material separation, improve sorting accuracy, and optimize overall recycling processes. AI-powered waste sorting robots are advanced robotic systems equipped with artificial intelligence technologies designed to automate the process of separating and categorizing waste materials. These robots use a combination of computer vision, machine learning, and sensor technologies. For instance, in February 2024, ZenRobotics, a Finland-based technology company, launched ZenRobotics 4.0. ZenRobotics 4.0 is an advanced generation of waste sorting robots that leverages cutting-edge artificial intelligence and machine learning technologies to improve the efficiency and precision of waste separation and recycling processes. ZenRobotics 4.0 is aimed at enhancing the efficiency and accuracy of waste sorting by utilizing advanced artificial intelligence and machine learning technologies to better separate and process recyclable materials.
Which regional trends are influencing the waste recovery and recycling market, and which area dominates the industry?
North America was the largest region in the waste recovery and recycling market in 2024. The regions covered in the waste recovery and recycling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Waste Recovery And Recycling Market Report 2025 Offer?
The waste recovery and recycling market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Waste recovery and recycling involve processes aimed at converting waste materials into reusable resources. Waste recovery refers to the collection and treatment of discarded materials to extract valuable resources or energy. Recycling specifically involves processing these materials, such as paper, plastics, metals, and glass, to produce new products or raw materials.
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