Value of Hazardous Waste Management Market Estimated at US$ 23.76 Bn by 2031, TMR Study

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Aug 19, 2022, 07:30 ET

Stringent regulations for safe disposal of coal combustion products (CCP) monitored by regulatory authorities such as U.S EPA and European Union's waste legislation underscores growth
Emergence of third-party medical waste management experts in the U.S. alleviates burden of strict waste management and disposal policies on the healthcare industry

WILMINGTON, Del., Aug. 19, 2022 /PRNewswire/ -- The hazardous waste management market is estimated to clip a CAGR of 5.31% during the forecast period from 2022 to 2031. Key role of governments for hazardous and non-hazardous waste disposal, entry of community-based and non-governmental organizations, and rapid adoption of novel disposal techniques are some key factors fuelling the growth of hazardous waste management market.

Ongoing trends of hazardous waste management market underscores demand for unique techniques due to rapid urbanization and industrialization in several parts of the world. The rapid adoption of hazardous waste disposal techniques such as ozone treatment, chemical treatment, steam autoclave treatment, pyrolysis, and electron beam technology for chemical, medical, and nuclear waste demonstrates expanded scope of hazardous waste management outlook in the upcoming years.

North America held a significant 34.8% share of hazardous waste management market in 2021. Vast industrial operations that release high volume of hazardous waste creates revenue streams in the hazardous waste management market in the region, finds the global market study on hazardous waste management market.

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Hazardous Waste Management Market – Key Findings of the Report

Stringent regulations to monitor disposal of coal combustion products (CCP) that pose serious threat to the environment create sizable opportunities for hazardous waste management market revenue generation
Emergence of third-party experts for medical waste management in the U.S. leading hospitals and other medical waste generators to outsource these services is expanding growth frontiers. Outsourcing of waste management and disposal is helping the healthcare industry, to address the mounting pressure from regulatory policies for medical waste management and disposal, and allows them to focus on core healthcare services.
Role of some principal government organizations toward proper management of hazardous waste for safety has led medical, chemical, and radioactive waste management increasingly necessary in developed countries. Such initiatives are supported by non-government and community-based organizations to help hospitals, and other healthcare facilities to collect, recycle, and dispose medical waste.
Solid type segment held a key share of hazardous waste management market in 2021. Increase in medical and industrial waste accounts for key share of solid segment of hazardous waste management market.
Chemicals waste segment accounted for the leading 27.8% share of hazardous waste management market in 2021. Rapid growth of the chemical industry to serve medical, industrial sectors leading to high volume discharge of chemical waste is
Deep-well injection disposal method held 34.8% share of hazardous waste management market in 2021. Low cost for disposing large volumes of hazardous waste accounts for significant share of deep-well injection disposal method

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Hazardous Waste Management Market – Growth Drivers

Increasing efforts by numerous governments for proper disposal of hazardous waste, and adoption of novel techniques for effective disposal of medical, chemical, and nuclear waste underscores growth
Stringent regulations to monitor disposal of coal combustion products discharged from thermal power plants spells demand

Hazardous Waste Management Market – Key Players

Some of the key players operating in the hazardous waste management market are;

Veolia
Stericycle Inc.
Suez Waste Management Inc.
Republic Services Inc.
Morgan Group
Waste Connections Inc.
Bechtel Corporation
Clean Harbors Inc.
American Waste Management Services Inc.
Chloros Environmental Ltd.
SMS ENVOCARE LTD.
Recology Inc.
Environ India

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The hazardous waste management market is segmented as follows;

Hazardous Waste Management Market, by Type

Solid
Liquid
Sludge

Hazardous Waste Management Market, by Waste

Nuclear
Chemicals
Explosive
Biomedical

Infectious
Radioactive

Flammable
Others

Hazardous Waste Management Market, by Chemical Composition

Organic
Inorganic

Hazardous Waste Management Market, by Treatment

Physical & Chemical
Thermal
Biological

Hazardous Waste Management Market, by Disposal Method

Deep-well Injection
Detonation
Engineered Storage

Hazardous Waste Management Market, by Region

North America
Europe
Asia Pacific
Middle East & Africa
Latin America

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