Market Size of Liquid Waste Management Industry
| Study Period | 2019-2029 |
| Market Size (2024) | USD 89.29 Billion |
| Market Size (2029) | USD 109.78 Billion |
| CAGR (2024 - 2029) | > 4.00 % |
| Fastest Growing Market | North America |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Liquid Waste Management Market Analysis
The Liquid Waste Management Market size is estimated at USD 89.29 billion in 2024, and is expected to reach USD 109.78 billion by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).
- The COVID-19 pandemic negatively impacted the market as petroleum refinery units cut their production throughput, and the demand for fuel decreased by about 30% to 40% globally during the lockdown. However, the demand for various pharmaceutical products increased during the pandemic, thereby enhancing the production of liquid wastes. Currently, the market has recovered from the pandemic. The market reached pre-pandemic levels in 2022 and is expected to grow steadily in the future.
- The increasing manufacturing activities that generate toxic chemicals are anticipated to enhance liquid effluent management activities. Also, the growth in the pharmaceutical and healthcare industry is expected to drive the market's growth.
- On the flip side, increasing technological challenges and stringent waste processing regulations are expected to hinder the market’s growth.
- Further, the increasing focus on treating emerging contaminates is likely to provide opportunities to the market studied.
- The North American region represents the largest market, and it is also expected to be the fastest-growing market over the forecast period due to the enactment of stringent norms pertaining to the management of liquid waste and the presence of activities related to oil and gas production.
