Industrial Waste Management Market – Snapshot
Industrial waste is a blend of strong, fluid, and vaporous waste created and gathered from different enterprises, for example, development, oil and gas, substance, atomic, agribusiness, and mining. It is a blend of unsafe and non-perilous waste. Compound, oil and gas, and atomic businesses establish the significant portion of the perilous industrial waste produced every year.
Rapid industrialization followed by stringent regulations on dumping of thermal power plant waste to boost market
Industrial waste comprises around half portion of the general waste created over the globe. Fast industrialization and ascend in populace are relied upon to create high industrial waste in the following couple of years. A few specialist co-ops are entering the industrial waste management business inferable from the high potential combined with government backing and financing.
Coal ignition items (CCP) contain ecologically dangerous contaminants, for example, arsenic, cadmium, and mercury. If not observed appropriately, these substances can make genuine risk nature. Thusly, it is imperative to manage the transfer of CCPs, for example, fly fiery debris through coal-terminated power stations. Administrative specialists over the globe, for example, the U.S. EPA and the European Union’s waste enactment control the transfer of industrial waste. In October 2016, the U.S. EPA gave a lot of principles for safe transfer of coal ignition items in the U.S.
Growth in concerns about proper treatment and disposal of hazardous industrial waste
Dangerous industrial waste comprises under 4% portion of the worldwide industrial waste market. In any case, gathering, treatment, and transfer expenses of risky industrial waste are multiple times higher than that of non-perilous industrial waste.
Atomic, oil and gas, and compound enterprises are overwhelming makers of dangerous waste. These ventures are anticipated to create considerably increasingly waste in the following couple of years inferable from the popularity for vitality and compound items over the globe. This is probably going to profit specialist organizations occupied with gathering, treatment, and transfer of perilous industrial waste. Specialized mastery, related knowledge of taking care of unsafe waste, and adherence of government standards are essential factors that decide the agreement for perilous industrial waste management among specialist co-ops.
Developed nations are more active in industrial waste management
Countries in Europe and North America have enacted stringent regulations pertaining to collection, recycling, landfill, and incineration of industrial waste. Countries and sub-regions in Asia, especially India, China, and ASEAN, are beginning to shift toward sustainable industrial waste management. However, several developing and under-developed nations in Middle East & Africa and Latin America are struggling to implement regulations on collection, recycling, landfill, and incineration of industrial waste. This is estimated to hamper the demand for industrial waste management, especially in Middle East & Africa and Latin America, in the near future.
Developments & innovations in terms of product and technology in industrial waste management market
In October 2018, Waste Management Inc. received ‘Highest Scores in Industry’ on the 2018 Dow Jones Sustainability Indices (DJSI) North America and World. In October 2018, the company opened its solids and liquids injection disposal facility in West Texas, the U.S., in order to serve the oil & gas industry. In 2017, Waste Management Inc. generated revenue of US$ 9.2 Bn through collection of wastes. In 2017, landfill constituted 41.6% of the waste managed by the company, followed by transfer (19%) and recycling (17.7%). In November 2013, Waste Management Inc. signed a contract with American Electric Power (AEP) to provide landfill management and fly ash marketing services at the three power plants in Texas, the U.S. In May 2018, Sembcorp Industries sold its medical waste treatment division to TEE Medical Services for US$ 20 Mn.
The division specializes in the treatment and disposal of bio-hazardous and pharmaceutical wastes. Its new owner, i.e. TEE Medical Services, is a 50:50 joint venture between TEE Infrastructure and Asia Enviro Services. In August 2018, a draft permit was issued for Veolia’s Energy from Waste (EfW) facility in Hoddesdon, the U.K. The Hoddesdon plant is designed to process wastes of up to 350,000 tons every year. It has capacity of 33.5 MWe. In September 2018, Suez Environnement strengthened its presence in China by acquiring two new contracts in wastewater and waste management in the city of Changshu.
The company bagged the operation and maintenance contract for the waste treatment plant in Jianghe Tianrong area, China. In September 2018, Suez Environnement announced plans to construct a new energy-from-waste plant in Stockton-on-Tees (County of Durham), the U.K., to manage household and commercial waste in North East of the country from 2021. The project is expected to cost US$ 173 Mn. In February 2018, Clean Harbors, Inc. completed the acquisition of Veolia’s U.S.
Industrial Cleaning division, a subsidiary of Veolia Environmental Services, for approximately US$ 120 Mn. The acquisition helped the company offer industrial services of significant scale. It also helped the company expand its existing industrial services business in the U.S.
Asia Pacific market to grow at fast pace in terms of demand
Asia Pacific is the key region of the industrial waste management market. It is expected to remain dominant during the forecast period owing to the year-on-year increase in generation and collection of industrial waste. There exists significant potential to reduce industrial waste; reuse and recycle waste; achieve higher productivity and resource security; generate employment; and reduce risks to humans and ecosystems in Asia Pacific.
China held major share of the industrial waste management market in Asia Pacific in 2017. It is one of the key importers of industrial and e-waste from the U.S. and Europe. However, demand for industrial waste management in India is projected to rise at a rapid pace during the forecast period. The Government of India has partnered with Innovate UK and Research Councils, the Biotechnology and Biological Sciences Research Council (BBSRC), and the Engineering and Physical Sciences Research Council (EPSRC) in projects that use cutting-edge solutions to reduce industrial waste.
Highly competitive market with dominance of top players
The global industrial waste management market is highly fragmented; large numbers of local and international players provide industrial waste management services. Leading players dominate the market. Key players operating in the industrial waste management market are Stericycle, Inc., Waste Management, Inc., Sembcorp Industries, Veolia, Suez, Reclay Group, Daiseki Co., Ltd., Enviroserv Waste Management (Pty) Ltd., Clean Harbors, Inc., and SA Waste.
