Asia Pacific Industrial Waste Management Market Size Set to Touch USD 268.65 Billion by 2029

Published | 16 October 2023

Asia-Pacific industrial waste management market is gaining traction because of the rapid industrialization in major emerging economies and stringent government regulations for environmental protection.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Asia-Pacific industrial waste management market size at USD 183.06 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Asia-Pacific industrial waste management market size to grow at a CAGR of 6.6% reaching a value of USD 268.65 billion by 2029. The key growth factors for the Asia-Pacific industrial waste management market include rapid industrialization in major emerging APAC economies, such as India and China, as well as stringent government regulations aimed at reducing the environmental effect of industrial waste.

Asia-Pacific Industrial Waste Management Market – Overview

Industrial waste refers to waste products created by industries or industrial operations. Chemicals, rubbish, oils, solvents, dirt and gravel, and other materials are some of the most common examples of industrial waste. Thus, industrial waste management entails the safe removal, recycling, and disposal of such waste. Waste can be disposed of, destroyed, processed, recycled, reused, or controlled. The primary goal of waste management is to limit the amount of waste and to avoid any health and environmental issues.

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Asia-Pacific Industrial Waste Management Market

Segmental Information

Asia-Pacific Industrial Waste Management Market – By Service

Based on service, the Asia-Pacific industrial waste management market is segmented into recycling, incineration, and landfill. The landfill segment accounts for the highest share of the market. Such a process minimizes disease transmission and keeps communities clean by reducing the amount of waste that ends up in the environment. However, recycling is projected to register the highest growth rate during the forecast period owing to its economical nature. Recycling also minimizes the requirement for raw material extraction (mining, quarrying, and logging), refining, and processing, all of which cause significant air and water pollution.

Impact of COVID-19 on the Asia-Pacific Industrial Waste Management Market

The Asia-Pacific industrial waste management market was disrupted in certain sectors, such as construction & manufacturing, but gained traction in others, including the medical sector. Industrial operations were temporarily halted during the pandemic to prevent the virus from spreading. This led to a significant reduction in the amount of waste generated by industries, leading to a decline in the demand for industrial waste management services. However, the need for proper waste management has increased in the medical sector owing to the significant rise in medical waste, which includes PPE kits and face masks.

Competitive Landscape

Major players operating in the Asia-Pacific industrial waste management market include Eco-Wise Waste Management Pvt Ltd, China Everbright International Limited, Shanghai Chengtou Holding Co. Ltd, Hitachi Zosen Corporation, WasteServ Malta Ltd, Daiseki Co., Ltd, SembCorp, and Vietstar Environmental (Vietstar). To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Asia-Pacific Industrial Waste Management Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Asia-Pacific Industrial Waste Management Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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