Hazardous Waste Management - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Hazardous Waste Management Market is accounted for $26.35 billion in 2019 and is expected to reach $48.06 billion by 2027 growing at a CAGR of 7.8% during the forecast period. Some of the key factors propelling the market growth include growing number of awareness programs for waste management, rapid urbanization and industrialization along with the rising population, increasing waste disposal activities, and government initiatives for waste management. However, requirement of high capital investments is restricting the market growth.
Hazardous waste management refers to a carefully organized system in which wastes go through appropriate pathways to their ultimate elimination or disposal in ways that protect human health and the environment. It involves generation, treatment, and disposal of hazardous wastes. It involves reducing the amount of hazardous substances produced, treating hazardous wastes to reduce their toxicity, and applying sound engineering controls to reduce or eliminate exposures to these wastes.
By waste type, industrial & manufacturing waste segment is anticipated to grow at the significant growth during the forecast period. This waste is considered to be one of the most hazardous waste materials produced. Some of the major wastes generated by the industries are paints, solvents, paper products, sandpaper, metals, industrial by-products and radioactive wastes. Governments all over the world are trying to keep the generation of industrial waste in control by imposing various laws and regulations on the industries to minimize the industrial and manufacturing waste to the maximum level and reduce their toxic effects.
On the basis of geography, North America is expected to have considerable market growth during the forecast period. Hospitals are major generators of medical waste in the U.S., owing to the increase in number of surgical procedures performed in these settings and longer duration of hospital stays of patients suffering from chronic diseases. Canada is likely to significantly contribute to the hazardous waste management market in North America. Nuclear utilities as well as the Canadian Nuclear Laboratories (CNL) are responsible for the disposal of nuclear wastes, primarily low level and intermediate level waste.
Some of the key players in hazardous waste management market include Veolia, Morgan Group, Suez, CLEAN HARBORS, INC., Bechtel Corporation, SMS Envocare Ltd, Waste Connections Inc., Waste Management, Inc., Recology Inc., Envion India, Stericycle Inc., Republic Services, Inc., Chloros Environmental Ltd, American Waste Management Services, Inc., Daniels SharpSmart, Inc., and Republic Services Inc.
Treatment Types Covered:
• Physical & Chemical
Waste Types Covered:
• Pharmaceutical Waste
• Industrial & Manufacturing Waste
• Pathological Waste
• Domestic Waste
• Biomedical Waste
Treatment Sites Covered:
• Off Site
Service Types Covered:
• Treatment & Disposal
• Collection, Transportation & Storage
Chemical Compositions Covered:
Disposal Methods Covered:
• Deep Well Injection
• Land Burial
• Engineered Storage
• Ocean Dumping
Physical States Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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