Waste Management Services NAICS 562

Nov 22, 2025 - Industry Consolidation Continues in Q3 2025

• Large waste firms continued their consolidation efforts in the third quarter of 2025, according to Waste Dive. GFL Environmental led U.S. solid waste M&A activity in Q3 with $235.77 million in deals, acquiring haulers in Illinois, Oklahoma, and Georgia. Republic Services followed with $122 million, targeting recycling, waste, and environmental services, including Green River Waste and Tri-County Disposal. Waste Connections spent $116.6 million, closing deals with Florida-based Great Waste and Florida Express Environmental. Casella Waste Systems invested $42.3 million, continuing its strategy of tuck-ins and larger deals, with more expected in Q4 and early 2026. WM had the lowest Q3 spend at $29 million, focusing on integrating Stericycle assets and completing smaller acquisitions, such as Countrywide Sanitation.
• Redirecting 50% of plastic waste from landfills to recycling could generate 173,200 US jobs, $12.8 billion in payroll, and $48.7 billion in economic output, according to the American Chemistry Council (ACC). The report highlights the combined potential of mechanical and advanced recycling technologies, which together can process a wider range of plastics. While mechanical recycling handles common curbside items, advanced methods convert hard-to-recycle plastics, such as flexible packaging and textiles, into raw materials for new products. The U.S. has 245 plastic recycling facilities, but many plastics still end up in landfills due to infrastructure limits. Over $10.5 billion has been invested in recycling, with $4.6 billion toward advanced systems. ACC advocates for federal policies, such as extended producer responsibility and harmonized recycling legislation, to boost innovation and investment.

• In November, prices for curbside recyclable materials showed mixed movement across categories, according to RecyclingMarkets.net. The US average price for post-consumer PET bottles and jars rose 17.3% month-over-month but dropped 67.8% year-over-year. Natural high-density polyethylene (HDPE) increased 4.8% from October but declined 20.2% compared to November 2024. Color HDPE fell 15.4% month-over-month and was down 65.6% year-over-year. Polypropylene (PP) remained flat month-over-month and decreased 44.9% year-over-year. Prices for old corrugated containers (OCC), used in the manufacturing of new boxes, fell approximately 12% from October and were down about 38% year-over-year. November’s aluminum can prices remained unchanged month-over-month and declined 9.7% compared to the same time last year. Sorted residential paper prices dropped 15% from October and were 46.0% lower than a year earlier.
• China’s new regulation requiring recycled pulp importers to disclose dry or wet milling methods is shaking the market for old corrugated containers (OCC), according to Waste Dive. The policy targets dry-milled pulp, viewed as more contaminated, prompting price drops and production halts across Southeast Asia. US recyclers are bracing for inspection protocols and enforcement details, while wet-pulp mills report rising demand. The move echoes past Chinese import crackdowns, like National Sword, which disrupted global fiber flows and led to a surge in recycled pulp exports. With over 60% of China’s pulp imports previously dry-milled, the shift could raise raw material costs and deepen OCC market volatility. Analysts expect long-term impacts to hinge on enforcement, but many believe a full ban on dry pulping is likely. The recycling industry faces renewed uncertainty, with OCC’s price swings and structural imbalances intensifying.