Hazardous Waste Management Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type of Waste (Industrial Waste, Municipal Waste, Hospital Waste, and E-Waste), By Treatment Method (Incineration, Landfilling, Recycling, Thermal Treatment and Bioremediation), By Industry (Manufacturing, Oil and Gas, Mining, Construction and Healthcare) and Region

The hazardous waste management market size was valued at US$ 13,782.1 million in 2023 and is projected to reach US$ 20,451.0 million by 2030, at a CAGR of 5.8% from 2024-2030. Moreover, the U.S. hazardous waste management market is projected to grow significantly, reaching an estimated US$ 7,394.2 million by 2032.

Hazardous waste management relates to the collection, treatment, transportation, and disposal or recycling of waste products that are deemed hazardous to both the health of humans and the environment. It comprises chemicals, heavy metals, biomedical wastes, radioactive materials, and other toxic items. The market is growing, driven by increasing industrial activities, pressure from the government to enforce regulations, and the growing awareness among people about environmental issues.

Key Players

The hazardous waste management market share includes several companies, such as Republic Services, FCC Environmental, Waste Connections, Suez, ChemWaste Management, Environmental Industries, Biffa plc, Clean Harbors, Casella Waste Systems, Waste Control Specialists, Stericycle, Cleanaway Waste Management, Covanta, Waste Management, and Veolia Environmental Services.

The top key players like Republic Services is a market leader in hazardous waste management, providing a full range of treatment and disposal services for waste. Chemical oxidation, microencapsulation, and solidification are some of the services offered by this company. A network of treatment nationwide operates from Republic Services. FCC Environmental is also one of the major players in hazardous waste management. With over 100 years of experience, FCC Environmental provides hazardous and industrial waste treatment, recycling, and resource recovery services.

Key Takeaways

• The fastest-growing region is Asia-Pacific
• North America is the largest market, largely dominated by the US.
• Based on the type of waste, the industrial waste segment holds a 38.7% market share
• Based on the treatment method, the incineration segment holds the 31.6% market share
• Based on industry, the manufacturing segment holds the 46.4% market share

Facts & Figures

• Over 400 million tons of hazardous waste are generated globally each year, with around 40% being untreated as of 2021.
• The United States generated approximately 34.8 million tons of hazardous waste in 2021, accounting for nearly 9% of the global total.
• Around 60% of hazardous waste in the European Union is treated using recovery operations, such as recycling or energy recovery, as of 2022.
• Asia Pacific produces more than 45% of global hazardous waste, with rapid industrialization being a key factor, as reported in 2021.
• China generated over 40 million tons of hazardous waste in 2020, with 80% coming from the chemical and manufacturing industries.
• Approximately 26 million tons of hazardous waste were imported and exported globally in 2022, underlining the cross-border movement of such waste for disposal or recovery.

Key Developments

• 2024: Stericycle announced the development of a new biomedical waste treatment plant in North America that would manage healthcare waste better.
• 2023: Clean Harbors merged with Safety-Kleen enhancing its capabilities in industrial and hazardous waste management.
• 2022: Veolia opened a new hazardous treatment facility in Europe and specialized more in advanced recycling and disposal technologies.
• 2021: Waste Connections acquired Advanced Disposal Services expanding its footprints in the waste management sector.

Hazardous Waste Management Market Segmentation

By Type: The highest market value in the market is found in the Industrial waste segment because industrial activities are known to generate a lot of hazardous waste, including chemicals, heavy metals, and other toxic substances that require proper management and disposal techniques. In fact, the stringent regulation and requirements for compliance with industrial waste management also prop up the high value in this segment.

By Treatment Method: The Incineration segment of the market provides the highest value due to its role as one viable hazardous waste treating technique, particularly in eliminating the dangers posed by toxic substances and minimizing volume size. This basically breaks down the hazardous waste into less toxic byproducts, such as ash and gas, that may continue to be further treated or directly disposed of. Such high value created in the market for incineration can be attributed to the efficiency and effectiveness of the process in managing hazardous wastes, that is, handling wide-ranging hazardous wastes.

By Industry: In the market, manufacturing holds the highest value. It is so because manufacturing activities would generate the most hazardous waste, such as chemicals, heavy metals, and other toxic substances, requiring specialized management and their disposal. The regulation and compliance aspects of managing industrial wastes make this segment have a higher value.