The oily waste can market is anticipated to experience robust growth, with projections estimating it will reach USD 336.4 million by 2034. The growth trajectory is underpinned by a CAGR of 2.8% from 2024 to 2034, building on initial market size of USD 255.2 million in 2024.
As industrialization is on the verge of a peak across the globe, the demand for such waste cans is anticipated to develop in the forthcoming decade. In industrial units, garages as well as laboratories, the use of oily rags and wipes is prevalent thus there is need for containers for their safe storage and disposal within the industry.
Global Oily Waste Can Industry Assessment
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 246.4 million |
| Estimated Size, 2024 | USD 255.2 million |
| Projected Size, 2034 | USD 336.4 million |
| Value-based CAGR (2024 to 2034) | 2.8% |
Liquescent waste, primarily produced by industries, is a growing issue due to the 70% water-covered Earth's surface. Increased awareness about waste disposal is anticipated to propel the growth of the oily waste container market.
The pharmaceutical and healthcare industry's rapid growth is also envisioned to further fuel the market for these containers, releasing toxic chemicals.
In several end-use industries, the need for oily waste containers is essential for managing and storing potentially flammable oily materials. The cans consist of a round structure, raised base, and self-closing lid. Proper segregation and disposal are essential for workspace protection in heavy-duty environments.
In the manufacturing segment of various end-use sectors, greasy debris cans are important in ensuring workplace safety. Such unique containers are made for storing the oil-soaked rags that can produce spontaneous combustion danger due to heat released during the oxidation process of oil.
By allowing airflow around the rags, these cans dissipate heat and prevent ignition. Manufacturers are envisioned to recognize their importance and adopt oily waste containers to protect against fires caused by sparks, careless smoking, or spontaneous combustion. As a result, the value of the revenue share for these safety cans is anticipated to grow in the projected period.
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The waste can market is predicted to grow at a CAGR based on multiple semi-annual periods from 2024 to 2034 in the following table. The industry is anticipated to advance at a CAGR of 2.5% in the first half (H1) of the decade from 2023 to 2033, and 2.8% in the second half (H2) of the same decade, reflecting a trifling hike in demand.
| Particular | Value CAGR |
|---|---|
| H1 | 2.5% (2023 to 2033) |
| H2 | 2.8% (2023 to 2033) |
| H1 | 2.9% (2024 to 2034) |
| H2 | 2.4% (2024 to 2034) |
The greasy waste can market growth trajectory is estimated to shift somewhat during the succeeding decade. Predictions indicate that the CAGR will peak slightly from 2.8% to 2.9% in the first half (H1) of the period. Following such a trend, the second half (H2) is predicted to have a drop in demand at a CAGR of 2.4%. Such industry trajectory indicates an upsurge of 30 BPS in H1, following a drop of 50 BPS in CAGR in H2.
Analysts in the industry attribute this shift to many factors, including the requirement for waste packaging in H1, which may have influenced demand. Improvements in the disposal of apparatus waste, on the other hand, or changes in the H2 sector, may limit the expansion. The increasing number of specialists in the oily waste can market is anticipated to pose significant challenges to its growth trajectory during the forecasted period.
Demand for Counseled Containers in the Hazzard Waste Packaging
Metal containers for oily wastes are essential for workplace safety due to their robust construction, designed to contain hazardous materials securely and minimize leaks or spills. Their engineered lid with a reduced opening allows for safe disposal, preventing accidental exposure to harmful substances. The convenience of these containers encourages their adoption across various industries.
The growing demand for waste cans specifically designed for oily waste management is envisioned to significantly fuel market value growth. These containers are equipped with exceptional qualities such as a robust frame, a minimized hole in the lid, and user-friendly convenience, which prevent accidental fires and ensure compliance with safety regulations. As workplace safety becomes more focused, the demand for these specialized containers is anticipated to surge, helmed by their effectiveness in managing hazardous waste securely and efficiently.
Stringent Regulations over the Waste Disposal Boost the Demand
The awareness and implementation of stringent laws and regulations aimed at ensuring heavy-duty workplace protection are poised to significantly enhance the market value of waste cans for oily debris. The regulatory measures, coupled with a growing consciousness across various industries regarding the proper handling and disposal of oily waste, are anticipated to propel demand in the projected period.
Companies operating in the oil and gas sector are envisioned to focus on building long-term relationships with raw material suppliers and continuously reinventing their product standards to meet evolving safety and environmental requirements. Such a strategic approach not only ensures compliance with regulations but also opens up profitable opportunities for development throughout the forecast period.
By prioritizing innovation and quality, businesses in the containers for the oily waste market can capitalize on the increasing need for effective waste management solutions, thereby securing a competitive edge and promoting sustainable growth.
Limitation of Skilled Expertise Along With Volatility in Raw Material Prices Pose Challenges
The limited number of specialists in the oily waste can market is predicted to hinder its growth trajectory, potentially leading to market saturation and reduced profit margins for established businesses, stifling innovation and slowing industry progress.
The demand for garbage cans for oily wastes is predicted to be hampered by a spike in raw material costs. Price fluctuations for basic commodities like metals and polymers can raise manufacturing costs, which firms may absorb or pass along to customers, further jeopardizing their ability to make a profit.
Economic pressures may hinder the expansion of oily waste containers, making it harder for companies to sustain growth. Stakeholders must be guided through such complexities to sustain their market presence and compel future development.
Principal Consultant
The rising utilization of waste cans for oily waste, especially in emerging economies is influencing expansion. The segment is estimated to report a CAGR of 2.2% from 2019 to 2023.
Can manufacturers be estimated to possess growth prospects at the projected period. Expenditure on sterile packaging and safe disposal of oily waste by end users is rising rapidly. The market was initially valued at USD 221.5 million in 2019, developing at USD 246.4 million in 2023.
In the post-pandemic period, the market is anticipated to have a limited growth trajectory. The probation on production as well as supply chain hindrance are estimated to limit the demand for oily waste cans. As soon as the production processes across various industries are supposed to begin, the demand for waste containers for greasy waste is destined to upsurge.
As compared to the prior market trajectory, the industry is anticipated to thrive with a future CAGR of 2.8%. The manufacturers are developing novel vat designs according to the end-use industries' requirements. The integration of additional safety layers as well as the integration of IoT components in the containers are some of the few developments that are predicted to develop the consumer base for the waste cans.
Firms with diverse product portfolio such as Justrite Mfg. Co., LLC and Eagle Manufacturing Company are renowned for their diverse product offerings and significant influence in their specialized markets. Tier 1 firms set the standard for waste disposal solutions by offering a wide range of options across various industries.
DENIOS, Inc., along with SYSBEL Industry & Technology Co., Ltd. are Tier 2 businesses with a significant revenue share and strong regional market presence. Despite not being as globally strong as companies in the Tier 1 category are, they remain competitive in the industry due to their specialized product offerings and regional influence.
Due to their niche product lines and little market presence, Safetyware Group Berhad, ESNICO Industry Co., Ltd., and DRIZIT Environmental are categorized as Tier 3 firms. Smaller or more specialized businesses with a narrower market focus or niche presence, sometimes catering to certain geographical markets or sectors, make up the Tier 3 companies.
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The section below discusses the country-level forecast for the oily waste can industry. The analysis of the regional markets is estimated to project the demand across the regions such as North America, Europe as well as Asia-Pacific. In the North American region, the demand is anticipated to surge from the United States exhibiting a CAGR of 1.5% by 2034.
On the contrary, the demand from emerging regions of Asia-Pacific such as India and China is projected to thrive in the forthcoming decade, highlighting the CAGR of 5.6% and 4.3%, respectively. The industry of Spain is foreseen to lead in the European region, with a CAGR of 2.3% from 2024 to 2034.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| United States | 1.5% |
| Canada | 1.1% |
| France | 1.9% |
| Spain | 2.3% |
| China | 4.3% |
| India | 5.6% |
The development of the chemical industry in Spain is anticipated to develop the demand for safe containers for chemical waste. The boosted demand for such solutions is estimated to register a CAGR of 2.3% by 2034.
The regional players such as Indorama Ventures Quimica, Ercros S.A, and IBERIAN LUBE BASE OILS COMPANY SA., are projected to boost the chemical industry in Spain with investment in novel research and development in the chemical industry. The augmented production of hazardous chemicals also paves the way for the need for oily wastes such as rags, grease and other by-products. The manufacturers are anticipated to boost the demand for concealed cans for the disposal of such byproducts.
The growth of the chemical industry in Spain is envisioned to coincide with the expansion of chemical disposal in cans, highlighting that waste containers play a vital role in providing affordable solutions.
The industry in India is anticipated to register a CAGR of 5.6% by 2034. As several industries in India such as petrochemical, pharmaceutical as well as automotive are anticipated to develop a demand for sterile waste disposal containers for oily waste.
The government of India is envisioned to develop novel and strict rules and regulations for the storage and transportation of hazardous solutions. The region has already faced several dangerous scenarios such as the Bhopal gas tragedy and others. On account of that, manufacturers in the sectors are following strict precautions for the disposal of oily and liquid waste.
The development of sterile waste vat containers that cater for the safety regulations of waste disposal is anticipated to bloom in the forthcoming decade.
The oily waste container industry in China is estimated to undergo significant improvements with durable construction, minimized lid openings, and user-friendly designs. These improvements ensure safety, efficiency, and secure waste packaging solutions, making oily waste cans more sophisticated, and offering enhanced containment and ease of use. With such improvements in the market, the demand is estimated to report a CAGR of 4.3% through 2034.
The demand for robust construction materials and innovative features is increasing due to the growing importance of reliable waste management in industries. The demand for oily waste cans is predicted to grow significantly over the subsequent decade, compelled by stringent environmental regulations and safer disposal methods. Chinese manufacturers are envisioned to lead in the field with such modifications.
The section contains information about the leading segments in the oily waste can industry. In terms of material, it is estimated that the metal segment will hold 63.9% revenue share in 2024. By end-user, manufacturing and warehousing are projected to be ahead with 37.2%.
| Material | Metal |
|---|---|
| Value Share (2024) | 63.9% |
Metal is envisioned to hold more than half, almost 63.9%, of the value share in 2024 due to its potential to transport and convey the oily waste can sector. The rigid design of the metal materials such as steel, iron, and so on, facilitates easy storage in a reasonably priced package.
The metal is supposed to be sustainable and can be accounted for the secure storage of the dangerous waste. Companies working with the oily waste on the daily basis are anticipated to opt for metal cans owing to the durability factor. Budding consumer knowledge about the use of non-carcinogenic elements in waste packaging is pushing the sales of metal cans.
| End Use | Manufacturing and Warehousing |
|---|---|
| Value Share (2024) | 37.2% |
The manufacturing and warehousing sector dominates the global demand, accounting for 37.2% in 2024. Stricter environmental laws and higher workplace safety and hygiene requirements are anticipated to move up demand for oily waste cans in the manufacturing and warehousing industries. These barrels are essential for maintaining safety compliance, stopping fires, and containing dangerous items.
With the adoption of sustainable practices by manufacturers and warehouses, there is envisioned to be an increase in demand for oily waste cans. These cans provide an effective way to handle greasy materials while lowering contamination and mishaps. The demand for efficient waste management solutions and increased environmental consciousness are predicted to fuel the industry's growth.
Companies are probably going to spend more money on high-quality rubbish cans for oily waste to comply with regulations and provide a safer workplace.
Important stakeholders are intensifying their efforts to raise the sustainability factor related to cans for the development of oily waste. Consequently, industry players are collaborating with industry experts to improve their process effectiveness and reduce their environmental footprint at the same time.
In addition, the players have invested in an internal technical team that provides periodic advice to the production team on process optimization. This is done to maximize efficiency and minimize water and energy consumption using new technologies, all to meet sustainability targets.
Industry participants are open to collaborating with government authorities for the betterment of the product to offer a broad solution portfolio and expertise in sustainable waste disposal. Key players continue to develop production by boosting the geographical presence of the manufacturing plants and participating in regional operations.
Recent Industry Developments in Oily Waste Can Market
In terms of material, the industry is bifurcated into metal and plastic.
In terms of capacity, the industry is categorized as up to 6 gallons, 7 to 14 gallons and above 14 gallons.
End use industries of the sector are automotive, manufacturing and warehousing, mining and construction, marine, and other industrial.
Key countries of North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East and Africa (MEA), have been covered in the report.
The industry is projected to witness CAGR of 2.8% between 2024 and 2034.
The global industry stood at USD 246.4 million in 2023.
The global industry is anticipated to reach USD 336.4 million by 2034.
India is set to record the highest CAGR of 5.6% in the assessment period.
The key players operating in the global industry include Justrite Mfg. Co., LLC, Eagle Manufacturing Company, DENIOS, Inc., SYSBEL Industry & Technology Co., Ltd. and others.
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
5. Pricing Analysis
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
6.1. Material
6.2. Capacity
6.3. End Use
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Material
7.1. Metal
7.2. Plastic
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Capacity
8.1. Up to 6 Gallons
8.2. 7 to 14 Gallons
8.3. Above 14 Gallons
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use
9.1. Automotive
9.2. Manufacturing & Warehousing
9.3. Mining & Construction
9.4. Marine
9.5. Other Industrial
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
10.1. North America
10.2. Latin America
10.3. Europe
10.4. South Asia and Pacific
10.5. East Asia
10.6. Middle East and Africa
11. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
12. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
13. Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
14. South Asia and Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
15. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
16. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
17. Sales Forecast 2024 to 2034 by Material, Capacity , and End Use for 30 Countries
18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
19. Company Profile
19.1. Justrite Mfg. Co., LLC
19.2. Eagle Manufacturing Company
19.3. Safetyware Group Berhad
19.4. DENIOS, Inc.
19.5. ESNICO Industry Co., Ltd.
19.6. SYSBEL Industry & Technology Co., Ltd.
19.7. DRIZIT Environmental
19.8. TENAQUIP Limited
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Oily Waste Can Market
