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In the TechSci Research report, "Waste Recycling Services Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028," the Global Waste Recycling Services Market reached USD 92.08 billion in 2022, with an anticipated CAGR of 5.19% during the forecast period. A primary catalyst for this growth is the increasing environmental awareness and global proliferation of sustainability initiatives. As concerns over climate change, pollution, and resource depletion intensify, governments, businesses, and individuals are adopting responsible waste management practices. Stringent regulations and policies are being implemented globally to reduce waste generation, encouraging recycling and penalizing improper disposal. This regulatory environment drives demand for waste recycling services as businesses and households strive for compliance.

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Sustainability has become a central focus for businesses across industries, leading to the integration of sustainable practices into operations. Recycling plays a pivotal role in these initiatives, helping businesses reduce their carbon footprint, conserve resources, and demonstrate commitment to environmental stewardship. The market benefits from the growing demand spurred by increasing sustainability consciousness.

The adoption of circular economy principles is a significant driver, emphasizing waste reduction and continual use, recycling, and repurposing of materials and products. Transitioning to a circular economy offers benefits such as reduced waste, decreased resource depletion, and minimized environmental impact. Recycling is essential in supporting this transition, and initiatives promoting recycling infrastructure and sustainable product design contribute to the significant growth in demand for waste recycling services.

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The Global Waste Recycling Services Market is segmented into product, application, and region. The Paper and Paperboard segment held the largest market share in 2022, driven by the substantial volume of recyclable material in municipal solid waste. Recycling paper and paperboard offers economic viability and environmental benefits, aligning with sustainability goals and regulations. The Municipal segment, encompassing residential, commercial, and institutional entities, held the largest market share in 2022. Municipalities generate a significant volume of waste, particularly residential waste, forming a consistent and substantial supply of recyclable materials.

Major companies operating in the Global Waste Recycling Services Market are:

  • Waste Management, Inc.

  • Republic Services, Inc.

  • Suez Environnement SA

  • Veolia Environnement SA

  • Biffa plc

  • Viridor Waste Management Ltd.

  • Waste Connections, Inc.

  • Clean Harbors, Inc.

  • Covanta Holding Corporation

  • Stericycle, Inc.

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The report titled "Waste Recycling Services Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product (Paper and Paperboard, Plastic, Metals, Glass, Bulbs & Batteries Electronics, Others), By Application (Industrial, Municipal, Others), By Region, By Competition" aims to provide cutting-edge market intelligence and assist decision-makers in making informed investment decisions. Additionally, the report identifies and analyzes emerging trends, drivers, challenges, and opportunities in the Global Waste Recycling Services Market.

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