Hazardous Waste Management Market to Reach a Value of ~Us$ 19.3 Bn By 2027

1. Hazardous Waste Management MarketGlobal Industry Analysis, Size, Share, Growth, Trends and Forecast, 2027 ©2019 Transparency Market Research, All Rights Reserved

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3. Hazardous Waste Management Market: Key Highlights • The global hazardous waste management market was valued at ~US$ 12.1 Bn in 2018 and is anticipated to expand at a CAGR of ~5% during the forecast period. • Among the physical states, the solid segment accounted for a major share of the global hazardous waste management market in 2018. • Among the wastes, the chemical segment held a significant share of the global hazardous waste management market in 2018. Investments in the global chemical industry have been increasing over the last few years. According to the International Council of Chemical Associations (ICCA), the chemical industry’s contribution to global GDP was valued at US$ 5.7Trn in 2017. • Among the chemical compositions, the inorganic waste segment held a dominant share of the global hazardous waste management market in 2018. • Among the treatments, the thermal segment held a major share of the global hazardous waste management market in 2018. • Among the disposal methods, the deep well injection segment held a leading share of the global hazardous waste management market in 2018. • North America is estimated to offer high growth potential to the hazardous waste management market in the next few years, owing to rapid growth of pharmaceutical, chemical, and oil & gas industries in the region. 

4. Key Drivers of Global Hazardous Waste Management Market Increase in R&D activities, rise in the number of patients suffering from chronic diseases, and rapid growth of healthcare and pharmaceutical industries worldwide are factors likely to fuel the demand for the collection of medical wastes from large as well as small medical waste generators across the globe in the near future. Statistics from a study conducted by the University of Leeds in 2015 indicate that, the U.S. produces an average of 8.4 kilogram/bed/day of medical wastes. This is the maximum rate of hospital medical waste generation across the world. These factors are expected to propel the global hazardous waste management market during the forecast period. Furthermore, several government organizations such as the Food and Drug Administration (FDA), Environment Protection Agency (EPA), and Drug Enforcement Administration (DEA) are consistently working toward the proper management of waste in order to ensure safety from hazardous medical, chemical, and radioactive wastes. Several non-government organizations (NGOs) and community-based organizations (CBOs) are stepping in to help hospitals and other healthcare facilities in the collection, recycle, and disposal of medical waste. For instance, Intervol, a U.S.-based NGO, is actively engaged in the collection of unused medical supplies. I t encourages healthcare facilities to recycle unused medical supplies and reduce the cost incurred for their disposal. Such initiatives by governments and NGOs to manage hazardous waste are fueling the global market for hazardous waste management. High capital investments is a prominent factor hampering the entry of companies into the global hazardous waste management market.  View Report Download Brochure ©2019 Transparency Market Research, All Rights Reserved

5. Global Hazardous Waste Management Market: Key Developments In September 2018, SUEZ NWS and Shanghai Huayi Company entered into an agreement to jointly provide hazardous waste treatment and recovery services in Qinzhou, Guangxi Province, China. The company is handling the responsibility of the management of hazardous waste at several industrial sites in China, including the Shanghai Chemical Industry Park. In May 2018, Sembcorp Industries sold its medical waste treatment division to TEE Medical Services for US$ 20 Mn. The division specialized in the treatment and disposal of biohazardous and pharmaceutical wastes. TEE Medical Services is a 50:50 joint venture between TEE Infrastructure and Asia Enviro Services. In December 2016, CLEAN HARBORS, INC. unveiled a new incinerator at its facility in El Dorado, the U.S. This incinerator is technologically considered the most advanced incinerator in North America. Its use has increased the company’s hazardous waste management capacity.  ©2019 Transparency Market Research, All Rights Reserved

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