Technavios global hazardous waste management market research report forecasts the market to grow at a CAGR of approximately 8% during the forecast period.
The increasing development of measures to control the illegal movement of hazardous wastes will be one of the major trends in the global hazardous waste management market during 2018-2022. According to Eurostat, the illegal movement of wastes leads to non-compliance rate of 25%. The improper management of hazardous wastes has negative impacts on the environment, especially the quality of land and water. Therefore, effective regulation of hazardous waste disposal and management is required at the international level.
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According to Technavio analysts, one of the key drivers for the global hazardous waste management market is the increase in industrial activities:
Global hazardous waste management market: Increase in industrial activities
The demand for consumer electronics and automobiles has increased globally due to the increase in consumer spending. According to the lEA, the total manufacturing value added in Southeast Asia has doubled between 2000 and 2015 to USD 550 billion. Likewise, between 2006 and 2016, the automotive sector in Southeast Asia has increased with the increase in manufacturing production by twofold to 4 million vehicles.
According to a senior research analyst at Technavio, According to lEA, Thailand, which accounted for the largest share of manufacturing value added per GDP of 27% in 2015, is the largest automobile manufacturer and has been able to attract many global industries such as automobile assemblers and pads manufacturers. Besides, the electronics industry is also blooming as many multinational companies have manufacturing bases in Southeast Asian countries.
Global hazardous waste management market: Segmentation analysis
This global hazardous waste management market analysis report provides market segmentation by the application (industrial, medical, and others) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major applications, the industrial segment held the largest hazardous waste management market share in 2017, contributing to over 64% of the market. This application segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2017, accounting for close to 50% share. It was followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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