Hazardous Waste Bagging" Is The Fastest Growing Segment Fueling The Growth Of The Hazardous Waste Bag Market

 

Hazardous waste bags are used for disposal of contaminated, toxic and hazardous waste materials generated from various industries and healthcare facilities. These bags are made from sturdy and tear resistant materials to safely contain hazardous substances.

The global hazardous waste bag market is estimated to be valued at US$ 942.2 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends driving the growth of hazardous waste bag market is the stringent government regulations regarding safe disposal of hazardous waste. Most countries have implemented regulations mandating the use of approved packaging for transportation and disposal of toxic industrial waste. Additionally, the growing healthcare industry worldwide has led to increased generation of biomedical waste requiring proper containment and disposal. The Covid-19 pandemic has also contributed to higher demand for biohazardous waste bags. Continuous innovation in bag material for better chemical and puncture resistance is another factor fueling the adoption of hazardous waste bags.
Segment Analysis
The hazardous waste bag market is dominated by the heavy plastic bags segment which accounts for over 40% of the market share. Heavy plastic bags are preferred for hazardous waste collection due to their durability and ability to hold higher waste loads without tearing. These bags can withstand harsh chemicals and are impermeable to liquids. They are suitable for various hazardous waste streams including pathological, chemical, and pharmaceutical wastes.

Key Takeaways
The global hazardous waste bag market is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing stringent environmental regulations regarding hazardous waste management.

North America dominates the hazardous waste bag market and is estimated to account for over 30% of the global market share in 2023. Stringent regulations regarding healthcare waste disposal in the US and Canada are boosting the market growth in the region.

Key players operating in the hazardous waste bag market are Stericycle, Inc., Clean Harbors, Inc., Veolia Environnement S.A., Waste Management, Inc., SUEZ - Water Technologies & Solutions, Republic Services, Inc., Safety-Kleen Systems, Inc., Heritage-Crystal Clean, LLC, Daniels Health, Sharps Compliance, Inc., Thermo Fisher Scientific Inc., U.S. Ecology, Inc., EnviroSolutions, Inc., Remondis SE & Co. KG, and GFL Environmental Inc.

*Note:

1.Source: Coherent Market Insights, Public sources, Desk research

2.We have leveraged AI tools to mine information and compile it

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