Solid Waste Management Market will observe substantial demand from 2020 to 2026

Solid Waste Management Market to surpass $28 billion tons by 2026. Rising focus on environmental concerns and escalating adoption of advanced waste treatment technologies are propelling solid waste management market growth. Increasing volume of solid waste across residential, commercial, and industrial sectors has induced the need for proper waste management practices.

Sustainable waste disposal technologies & practices are being extensively implemented, which will spur solid waste management market growth. Intensifying awareness pertaining to the consequences of mismanagement on environment will influence solid waste management methods and technologies in the near future.

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Rapid growth in urban population has sizably increased the generation of solid waste. Existing waste treatment facilities are being overburdened, which will positively impact municipal solid waste management market demand. For example, as per the World Bank, in 2019, more than 50% of the global population was recorded to reside in urban areas and the figure is expected to double by the year 2050. A huge number of people migrating from rural to urban areas and amplifying economic prosperity have heightened the rate of non-hazardous waste generation, which, in turn, will propel municipal solid waste management industry growth.

The packaging industry is experiencing imminent growth from past few years due to which paper waste production is soaring considerably. It has been predicted that solid waste management market from paper & paperboard segment will accumulate massive revenues in the ensuing years. Waste generation from cardboard related consumables is also growing owing to the commendable expansion of e-commerce industry. Tier-2 & tier-3 cities are producing enormous amounts of paper waste, including magazines, books, and newspapers.

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Surging illegal dumping of solid waste has resulted in introduction of stringent regulations to control improper solid waste disposal. Additionally, growing emphasis on resource recovery & recycling techniques has developed promising business prospects in solid waste management industry. For example, the U.S. Environmental Protection Agency (EPA) established the Resource Conservation and Recovery Act (RCRA) to abate open waste dumping and proper disposal & handling of hazardous and non-hazardous wastes. Initiatives undertaken by governments to introduce sustainable mechanisms throughout the waste disposal & treatment ecosystems are anticipated to stimulate solid waste management market demand.

Speaking in terms of regional outlook, Latin America is likely to emerge as a pivotal growth ground for solid waste management industry owing to the incessant upsurge in urban population. According to UN-Habitat’s 2018 estimates, cities in Latin America are expected to accommodate around 90% of the region’s population by the year 2050.

Some of the eminent solid waste management market players are Waste Management, Inc., Waste Connections, and Biffa Group amongst others.

Browse key industry insights spread across 1020 pages with 1870 market data tables & 28 figures & charts from the report, "Solid Waste Management Market Size By Waste (Municipal Solid Waste {Residential, Commercial [Hospitals, Offices & Institutions, Hotels, Others]}, Industrial Solid Waste {Equipment Manufacturing, Mining, Food Processing & Textiles, Others}), By Treatment (Open Dumping, Disposal {Landfill, Recycling, Incineration/Combustion, Composting & AD}), By Material (Paper & Paperboard, Metals, Plastics, Food, Textiles, Others), Industry Analysis Report, & Forecast, 2020 – 2026" in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/solid-waste-management-market

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