With the emergence and long-term Impact of COVID-19, Global Waste Recycling Services Market to reach USD 77.6 Billion by 2027
Bizwit Research & Consulting LLP’s Recent Analysis of Global Waste Recycling Services Market is poised to raise up to USD 77.6 Billion by 2027. Waste recycling services include recycling of waste material which includes paper recycling, glass recycling, metal recycling, textile recycling, plastic and electronic recycling. It also includes composting which is basically “reuse of biodegradable waste,” like food and garden mulch. Increasing awareness regarding waste management is enhancing the market growth of waste recycling services market. For Instance, according to World Bank organization waste material generation rates increasing. In 2016, globally 2.01 billion tonnes of solid waste was generated counting to of 0.74 kg per person per day. With increasing population growth and expanding urbanization, annual waste generation is estimated to rise by 70% from 2016 levels to 3.40 billion tonnes by 2050. Adoption of strict laws by the government in waste recycling application enhances the market growth of waste recycling market However, high manufacturing cost of waste material management mpedes the growth of the market over the forecast period of 2021-2027. Also, the rising urban population and increasing awareness regarding waste material management is likely to increase the market growth during the forecast period.
Geographically, the global Waste Recycling Services market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific is the leading region across the world in terms of market share owing to the rising awareness about cleanliness and waste material management in addition with efforts taken by private and government authorities for effective waste recycling. Whereas, Europe and North America are also anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as rising awareness, increasing industrialization that produces waste material on a large scale would create lucrative growth prospects for the Waste Recycling Services Market.
The global Waste Recycling Services market is highly competitive owing to the presence of several key manufacturers such as Eurokey Recycling, Ltd., Northstar Recycling, Triple M Metal LP, Amdahl Corp., Interface, Inc., Covanta, Epson, Inc., and others.
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Key findings of the study suggest:
- Global Waste Recycling Services Market is anticipated to grow with a healthy growth rate of more than 5.20% over the forecast period 2021-2027.
- In the Product segment, Paper and paperboard emerged out as the leading market segment in 2020.
- Asia-Pacific is anticipated to drive regional growth Owing to rising awareness about cleanliness and waste material management in addition with efforts taken by private and government authorities for effective waste recycling.
- North America and Europe is expected to grow at higher rate followed by North America during 2021-2027.
Bizwit Research & Consulting has considered following segments for the study:
Application:
- Industrial
- Municipal
Product:
- Paper & Paperboard
- Plastics
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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