The global sales of liquid waste container are estimated to be worth USD 3.3 billion in 2021 and are anticipated to reach a value of USD 5.7 billion by 2031. Sales are projected to rise at a CAGR of 5.5% over the forecast period between 2021 and 2031. The revenue generated by liquid waste container in 2020 was USD 3.2 billion.
The increasing regulatory demands for proper disposal and management of hazardous and non-hazardous liquid wastes in major industries drive the demand in the liquid waste container market.
As the healthcare, manufacturing, and chemical processing industries continue to grow, so does the need for liquid waste containers that can efficiently and safely manage a wide array of waste materials in compliance with regulatory standards. Improvements in the type of materials used for making the containers, such as leak-proof and corrosive-resistant, add to durability and safety.
This is also driven by the growing emphasis on environmental sustainability and reduction of waste. Besides, expanding the infrastructure and services in waste management across most parts of the world acts as a driver for market growth. Growing awareness related to health and safety standards triggers demand for good-quality liquid waste containers.
Global Liquid Waste Container Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2020 | USD 3.2 billion |
| Estimated Size, 2021 | USD 3.3 billion |
| Projected Size, 2031 | USD 5.7 billion |
| Value-based CAGR (2021 to 2031) | 5.5% |
Liquids such as fats, wastewater, used oil, oils or grease (FOG), liquids, gases, solids, or sludges and hazardous household liquids are defined as liquid waste.
These liquids are potentially harmful or hazardous to the environment or human health. Any kind of waste, which exists in the form of liquid, is referred as liquid waste.
As a requirement by law, all types of liquid waste be properly disposed of- by a licensed waste haulier. If disposal of liquid waste is not done properly, it can potentially lead to the contamination of groundwater. Sewage and sullage are considered as the most common kind of liquid waste.
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Liquid waste is getting a major problem day by day as 70% surface of Earth is covered in water. Animals and Human Beings are main producers of liquid waste. Thus, there is a rise in awareness about waste disposal, which is fueling the growth of liquid waste container.
Toxic chemicals are released due to the increasing manufacturing activities. Also there is a rapid growth in the pharmaceutical and healthcare industry, which is expected to fuel the market of liquid waste container.
A variety of cleaning fluids are used by most labs, shops and warehouses in their daily operations. They need a temporary way to store these wastes of liquid and such need is fueling the demand of liquid waste container. Safety Cans companies are offering liquid waste disposal cans in different materials, colours and sizes to dispose combustible, flammable, or corrosive liquids properly. Such need is creating many opportunities for liquid waste container.
The most profitable industry is oil and gas, as the demand of industries such as households, and transportation, and other sectors is fulfilled by it. There are concerns regarding the environment with wastewater, which is faced by oil & gas industry.
This industry generates a good amount of wastewater in various operations such as in hydrostatic testing water as the rate of water consumption is high. The water often gets contaminated, which is used in the process and there is a need to treat it for disposing or for reuse.
There is very high rate of water consumption in refineries for distilling crude into its various fractions, such as gasoline, diesel, jet fuel, and kerosene. Therefore, factors mentioned above are expected to drive the demand of liquid waste container in upcoming years.
The global market of liquid waste container is currently dominated by North America as most of the key players located in the country have a solid competition among the new players. Many key players in the country are aiming for collaboration, acquisition and new product strategies to escalate their business presence.
The companies in United States and Canada are focusing on low manufacturing cost as they have advanced equipment or strong R and D capability. The growth of liquid waste container is also driven by region, owing to penetration in residential, commercial, and industrial segments.
All the major industries such as automotive, Iron & steel, Oil & Gas, Pharmaceutical, textile and others are moving towards the adoption of liquid waste container solutions. There is a good number of research projects going on waste management.
There many waste management companies in the region to collect all type of waste. This can impel the expansion of liquid waste container market in Europe. Due to rise in liquid waste from various industries, it will attribute to the availability of more liquid waste container solutions in the upcoming years.
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Some of the leading vendors of liquid waste container include
are some of the key players in the market. These vendors are adopting various key strategies, to increase their customer base and market shares. They are also partnering with other local vendors to dominate significant portion of the market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Liquid Waste Container Market
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