According to Stratistics MRC, the “Global Wet Waste Management Market” is accounted for $89.65 billion in 2016 and is expected to reach $132.53 billion by 2022 growing at a CAGR of 6.7% from 2016 to 2022. The growth of the market is propelled by growing metropolitan population, rise in awareness programs for waste management and expanding waste-to-energy solutions. Furthermore, strict regulations by regional bodies such as European Commission and EPA are anticipated to drive the demand for the market over the forecast period. However, lack of knowledge and very few treatment plants are some factors inhibiting the market growth. Moreover, need for landfill sites is another factor presumed to challenge industry growth.
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Wet waste management is the process of composting the waste for the production of manure, biogas, and so on. Moreover, it consists of crushing down the organic matter in the presence of air. The process will generate and end product known as compost, which can provide nutrients to plants. Wet waste management also generates waste energy, which can be further utilized and deployed to generate electricity.
Opportunity: Stringent regulations for environmental safety would provide ample opportunities for the market growth.
The rising pollution levels and increased environmental exploitation has created a concern among various government bodies as well as environment protection authorities which eventually results in the introduction of stringent regulations. This would provide opportunities for the market as waste management is of utmost priority in ensuring environmental protection.
Driver: Rising urban population is expected to fuel the market growth.
An increase in population results in an increased consumption of a variety of products thereby generating more amount of waste. This obviously requires proper management and thus the rising population, especially in the urban areas acts as a market driver.
By source, healthcare & medical waste is estimated to have a lucrative growth in the forecast period. The increasing population across the globe has resulted in more number of patients, thereby producing higher amount of medical waste. Thus, with the rising volume of medical waste, the governments, worldwide, are taking several initiatives for the management of medical waste.
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By geography, the Asia Pacific region is anticipated to hold considerable market share during the forecast period. The rising awareness among people coupled with the upcoming technologies is the main factor for the market growth in this region.
The Global Wet Waste Management Market Leaders are 3R of Charleston, Inc., A&D Environmental & Industrial Services, Bentley Environmental Services, Clean Harbors Environmental Services, Inc., Echelon Environmental, Llc, Envirosmart, Inc, Industrial Oil Recovery Corporation, Mcf Environmental Services, Inc., National Waste Associates, Pittsburgh Mineral & Environmental Technology, Inc, Rader Environmental Services, Inc., Rhino Environmental Solutions, Safety-Kleen Systems, Inc., Sws Environmental Services, Texas Integrity Waste Solutions, Trinity Environmental Solutions, US Waste Industries, Inc. and Ventrex Environmental Services, LLC.
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A&D Environmental & Industrial Services: In April 2011, A&D Environmental & Industrial Services acquired Greenleaf group of companies. The acquisition is aimed at expanding the waste management capabilities of the company and providing additional services to the customers.
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