Dive Brief:
- A Business Wire report detailing trends and forecasts in the international drilling waste management market predicts the international drilling waste management market will reach an estimated $8 billion by 2018.
- The rate of growth illustrates a 10% increase from 2013 to 2018.
- Environmental concerns and increased regulation have propelled the growth in a short amount of time. The strict compliance measures are causing operators to use cost-effective waste management practices that must include safe disposal.
Dive Insight:
The increased safety measures and regulations are causing the need for specialized waste companies for solid waste treatment, containment and handling, and treatment and disposal.
Waste Management announced its foray into the fracking waste sector in 2013. The company purchased two fracking waste disposal companies, reporting a 4% yearly rise in revenue from industrial waste to $558 million.
