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Market value of Municipal Solid Waste Management market in China (2017 - 2025, USD Millions)

Industry: Environment & Waste Management
Current: Market Sizing & Shares

The Market value of Municipal Solid Waste Management market in China reached USD 12,517.85 Millions in 2020
The indicator recorded a historical growth (CAGR) of ...
GlobalData projects the indicator to grow ...

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Market value of Municipal Solid Waste Management market in China (2017 - 2025, USD Millions)

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Waste management is an important part of a country's environmental, social, and governance (ESG) obligation. Implementing sustainable waste management solutions remains a major challenge for many nations. There has been a significant increase in the generation of industrial and municipal waste in recent years, which has serious economic, public health, and environmental consequences. The expanding population and increased globalization have increased waste volume, pushing the waste management industry forward. Unlawful dumping, increased pollution, and increased environmental awareness have all contributed to the strong growth of the market. Furthermore, rising industrialization in emerging nations, which generates large amounts of waste, propels the waste management market forward. However, rising recycling costs, landfill fees, and fuel prices are impeding the market's expansion.

The waste management industry includes all kinds of waste - municipal solid waste, waste generated from commercial establishments, and institutions, non-hazardous industrial process wastes, agricultural waste, and sewage sludge.

Waste collected and handled by or for municipalities is referred to as municipal solid waste. It includes waste generated from households, office buildings, institutions, small enterprises, as well as garden trash, street sweepings.

China is one of the top five countries along with the United States, Japan, Germany, and Mexico, that leads the world’s ineffective management of municipal solid waste. The municipal solid waste management market of China was valued at $13,066.0 million in 2021, with 242,841.4 thousand tonnes of municipal solid waste processed during the same year. The country’s market recorded a compounded annual growth rate of 3.6% during 2017 and 2021 in terms of values, while the underlying market volume grew at 3.1% during the same period.

The Chinese waste management industry experienced healthy growth during the last few years. However, the market is expected to grow at a slow pace over the next few years. China is the second-largest producer of waste globally. It was a net importer of much waste from other countries until January 2018, until the Chinese government banned imports of 24 grades of solid waste, including mixed paper and plastics. China’s population growth along with an increase in environmental awareness, rapid industrialization, and a rise in urbanization will foster the growth of the waste management industry. In addition, the implementation of stringent government norms towards open dumping is expected to fuel the industry’s growth.