Liquid waste can be defined as waste water from industrial, commercial, and residential areas. The waste water contains many unwanted and rejected substances such as sullage, stormwater, and excreta. It also contains bacteria and other harmful chemicals that can cause diseases and environmental pollution. Liquid waste is also called sewage. It has bad odor and different color than normal water due to the presence of impurities.
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Liquid Waste Management Market: Drivers & Restraints
The liquid waste management market entails collection of waste from various sources, its transportation, and disposal. Rise in awareness about hygiene and environment, increase in population, and growth in disposable income of consumers are factors driving the market. Rise in awareness about hygiene has been a key factor driving the liquid waste management market in developing countries such as China, India, Brazil, and South Africa. Hygiene plays an important role in maintaining health and a disease-free society. This has led governments to invest in infrastructure required to manage liquid waste. Liquid waste can also damage the environment due to the chemicals present in it. There is a direct connection between rise in human population and increase in liquid waste. Similarly, growth in disposable income has led to an increase in industrial activities to meet the demand of the population. Industrial activity and associated commercial centers create further liquid waste in the form of leftover from manufacturing activity. However, certain factors inhibit the liquid waste management market growth. Liquid waste management is a long and expensive process. Hence, all countries and areas cannot afford to invest in the required infrastructure. High investment cost is also a restraining factor due to the complex technology and expertise required to manage liquid waste. Technology and expertise are not readily available in every country and region. This further increases the hurdles in developing the necessary infrastructure.
In terms of service, the liquid waste management market can be classified into collection, transportation, and disposal. One company can either provide all three services or different combinations of the services. Septic tanks is one of the methods of collecting liquid waste. A method of transporting liquid waste is sewerage pipes. Similarly, composting is one of the methods of disposing liquid waste.
Liquid Waste Management Market: Regional Outlook
In terms of region, the liquid waste management market can be segregated into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. North America and Europe have enacted strict norms regarding the management of liquid waste. Hence, these regions account for major share of the liquid waste management market. Emerging countries such as India and China are still developing the necessary infrastructure to manage waste. Hence, these countries are projected to provide lucrative opportunities to the liquid waste management market during the forecast period.
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Liquid Waste Management Market: Key Players
Key players operating in the liquid waste management market include Suez Environment S.A., Veolia Environmental Services, Convanta Holding Corporation, and Chemtex Inc.