Municipal Solid Waste Management Market size worth $160 Bn by 2032

Municipal Solid Waste Management Market size is set to surpass USD 160 billion by 2032, according to a new research report by Global Market Insights Inc.
 

Improper disposal of solid waste has raised concerns related to its negative impact on the community, environment, and public health. Several public and private organizations are making investments to improve the management of hazardous and non-hazardous waste. For instance, in 2022, the World Bank granted funding worth USD 250 to support Bangladesh's efforts to improve environmental management and encourage private sector involvement in green development. The rising concerns related to public health and the environment will drive the shift towards a green economy that will advocate the adoption of efficient municipal solid waste (MSW) management systems.
 

Expanding global population to augment residential waste generation

The residential segment held more than 65% of the municipal solid waste management market share in 2022. Rapid population growth and the construction of multi-story buildings have led to the mismanagement of waste across certain residential areas worldwide. According to a UN report, the global population reached 8 billion in mid-November 2022, indicating an increase of 1 billion people since 2010.
 

A shift in consumer preference toward packaged food products will elevate the generation of municipal solid waste. The COVID-19 pandemic accelerated consumer purchases from e-commerce websites. This contributed to a rapid increase in the amount of packaging waste buildup like plastic bags, parcel covers, bubble wraps, and more. Efforts to manage such waste accumulation will fuel the need for solid waste management systems.
 

Mounting efforts to reduce open dumping of municipal waste

Municipal solid waste management market from the open dumping segment is predicted to grow steady rate during the forecast period. Open dumping of municipal solid waste is a common practice in emerging and underdeveloped countries as there is a lack of availability of proper waste disposal systems. An increase in investments made by private and public organizations for better waste disposal systems should decline the practice of open dumping in the coming years. In 2023, the European Bank for Reconstruction and Development plans to provide USD 27 million in sovereign loans to the Moldova government for the improvement of solid waste management systems.
 

Browse key industry insights spread across 1050 pages with 1998 market data tables & 28 figures & charts from the report, “Municipal Solid Waste Management Market Size By Source (Residential, Commercial {Hospitals, Offices & Institutions, Hotels}), By Treatment (Open Dumping, Disposal {Landfill, Recycling, Incineration/Combustion, Composting & AD}), By Material (Paper & Paperboard, Metals, Plastics, Food, Glass), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/municipal-solid-waste-management-market
 

Increasing volume of metal scrap in the U.S.

Municipal solid waste management market size from the metals material segment is expected to record nearly 2.5% CAGR between 2023 and 2032. The disposal of electronic equipment, machinery, office equipment, and demolition debris has resulted in an increase in waste metal scrap from the residential and commercial sectors. According to data from the UN’s Global E-waste Monitor 2020 report, around 59 million tons of e-waste were generated in 2019, indicating a 21% increase over the last five years. With the increasing amount of metal scraps, the need for municipal solid waste management systems is set to escalate over the forecast timeframe.
 

Deployment of sustainable waste disposal technologies across Asia Pacific

Asia Pacific municipal solid waste management market value is anticipated to witness approximately USD 75 billion by 2032. The region is witnessing a tremendous surge in municipal solid waste generation owing to the rising population across developed nations. Large volumes of waste generated from the public and economic development are among the prime factors escalating the demand for waste management systems across the region. In addition, the adoption of stringent emission standards should result in the deployment of sustainable waste disposal technologies across communities in the region.
 

Strategic initiatives by leading municipal solid waste management market

Top participants operating in the global industry are Covanta Holding Corporation, China Everbright Environment Group Limited, Keppel Seghers, SUEZ, OMNI Conversion Technologies, Inc., Wheelabrator Technologies, Inc., Waste Management, Inc., Cleanaway, Clean Harbors, Inc., Waste Connections, Sims Limited, Veolia, and Stericycle. Companies are forming strategic partnerships and mergers with related firms to improve waste recycling and management capabilities.