Liquid Waste Management Market Highlights 2022 – 2030 : Global
The global liquid waste management market is estimated to garner a large revenue and grow at a CAGR of ~5% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing rate of urbanization around the world, rapid population growth, and rising number of manufacturing activities resulting in the generation of toxic chemicals. According to the World Bank, the total population of the world was 7.753 billion in 2020, up from 7.509 billion in 2017. The global population has only witnessed growth since 1960. Along with these, surge in socio-economic awareness associated with limited natural resources, and escalating awareness of consumers about proper waste disposal and recycling are also projected to drive market growth in the upcoming years. Furthermore, strict regulations imposed by various local, state and federal governments regarding proper waste management is expected to provide abundant growth opportunities to the market in the near future.
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The market is segmented by end user into automotive, oil and gas, textile, pharmaceutical, iron and steel, and others, out of which, the pharmaceutical segment is anticipated to hold the largest share in the global liquid waste management market on account of the highly toxic nature of the effluents emitted from this industry and stringent government regulations for managing medical waste. Apart from these, the oil and gas segment is also assessed to grab a significant share by the end of 2030, owing to the high profitability and large amount of waste water generated in several operations of this industry. Additionally, on the basis of source, the residential segment is predicted to grab the largest share during the forecast period, which can be credited to the increase in production of wastewater in residential areas.
Major Macro-Economic Indicators Impacting the Market Growth
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labor as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Global Liquid Waste Management Market Regional Synopsis
On the basis of geographical analysis, the global liquid waste management market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the growing population in emerging countries such as China and India, increasing water requirements, and rise in water recycling activities in the region. As per the Asian Development Bank, by 2030, the gap between water demand and supply will become 40 percent. Over 90 percent of the region’s population already face an imminent water crisis. Moreover, the market in North America is predicted to grab the largest share during the forecast period, which can be credited to the stringent government regulations associated with liquid waste management, and large number of ongoing activities in the oil and gas industry in the region. In addition, growing penetration of waste management in the industrial, residential and commercial sectors is also evaluated to boost the region’s market growth in the future.
The global liquid waste management market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Liquid Waste Management Market Segmentation
Our in-depth analysis of the global liquid waste management market includes the following segments:
By Service
- Collection
- Transportation
- Disposal
By Source
- Residential
- Commercial
- Industrial
By End User
- Automotive
- Oil and Gas
- Textile
- Pharmaceutical
- Iron and Steel
- Others
Growth Drivers
- Growing Rate of Urbanization Worldwide
- Increasing Manufacturing Activities Resulting in the Generation of Toxic Waste
Challenges
- High Cost of Liquid Waste Management Equipment
Top Featured Companies Dominating the Market
- Suez Environment S.A.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Clean Harbors Inc.
- Republic Services Inc.
- Stericycle
- Veolia Environmental Services North America Corporation
- WM Intellectual Property Holdings LLC
- Covanta Holding Corporation
- Chemtex Inc.
- Teracycle, Inc.
- Ovivo, Inc.
