Waste Recycling Services Market Size, Share, Growth Analysis, By Waste type (Metals, Paper and Paperboard), By Application (Metallurgical, Chemical), By Region - Industry Forecast 2024-2031.

Global Waste Recycling Market size was valued at USD 56.15 billion in 2022 and is poised to grow from USD 59.07 billion in 2023 to USD 88.61 billion by 2031, growing at a CAGR of 5.2% during the forecast period (2024-2031). 

Rising consumer awareness of the benefits of garbage recycling is expected to positively impact market growth over the forecast period. During the COVID-19 pandemic, lockdown imposed a new type of waste known as pandemic waste, which includes gloves, masks, and respirators, as well as their packaging, which increased the waste generated due to disruptions in waste collection activities.

The presence of high levels of hazardous chemicals in trash, such as metals and salts, has compelled waste generators to dispose of or recycle the waste as soon as possible. Globally, urban population growth and rising disposable incomes are expected to drive the domestic housing sector. During the forecast period, the rising volume of waste from various industries such as automotive, food and beverages, chemicals, and electronics is expected to drive the growth of the waste recycling services market.

Furthermore, rising R&D investments in the development of innovative waste management technologies are significantly driving the growth of the global waste recycling services market. Rising waste management concerns, combined with increasing waste disposal challenges, are expected to drive demand for waste recycling services over the forecast period.

Adoption of stringent laws has accelerated waste recycling research and development initiatives, which is expected to drive market growth over the forecast period. The development of numerous disposal methods and procedures has resulted from increased awareness about effective waste disposal for the preservation of animal and human health.

US Waste Recycling Services Market is poised to grow at a sustainable CAGR for the next forecast year.