Asbestos Removal

Part
01
of four
Part
01

Asbestos Removal - US Market Size

The global asbestos market is shrinking, while the Remediation market and the Demolition & Wrecking Industry are steadily growing. The roughly estimated US asbestos removal market size is $77,751,000.00 (calculated).


Helpful findings

The biggest asbestos removal companies in the US by annual revenue

  • The total revenue: $77,751,000.00 (calculated). Hence, the roughly estimated US asbestos removal market size equals $77,751,000.00.

  • Research strategy


    The research team was not able to determine the exact size of the asbestos removal market in the US. Strategies, creative approaches and triangulation attempts we have attempted are as follows:

    First, we have searched directly for pre-compiled reports that address the asbestos removal market size in the US. We have scoured various market reports, on sites such as Markets and Markets, Allied Market Research, as well as various industry-specific publications such as Clean-Up Information. In these types of sources, available information focused on the Remediation services market size rather than asbestos cleanup services, with only brief mentions of the subject under investigation. This way, the research team has obtained a number of paywalled reports that possibly answer the query.

    We have then attempted to locate the specific NAICS code for asbestos removal services. Our goal was to use the NAICS code to locate the market size, since Federal Business Opportunities sometimes publish market size information regarding specific cleaning service NAICS codes. This strategy has ultimately failed because we were not able to determine the specific code for asbestos services in particular, search determined "Asbestos removal contractors" are listed under code 562910 along with various other cleaning service types, such as oil spill cleanup services.

    Next, since search determined asbestos removal is part of the Environmental Cleanup Services market and the Demolition & Wrecking Industry market, also since sizes for both the markets are available, we have decided to search for segmentation charts of these markets to find the market share asbestos removal services take up, in order to calculate the asbestos removal market size. However, after searching through various market research sites, business publications and industry reports, no relevant information came up. Again, the information seemed to be available behind paywalls.

    In a second triangulation attempt, the team has turned to searching for the global asbestos market size and the segmentation of the global market by region, hoping to use this information to derive at the requested market size. Again, market research sites and industry-specific publications were searched, however the global market size was not available. Instead, available information focused on irrelevant things such as number of global deaths caused by asbestos in 2017 or the number of employees in the entire asbestos industry.

    As a last resort, the team has decided to search for statements from the biggest asbestos removal companies themselves, since they likely know the market and might disclose this information publicly. Companies we looked into include Action Restoration, Valor Technologies Inc. and Asbestos Abatement Inc., among others. Still, after an exhaustive search through each of the identified company websites, press releases and blogs, no relevant information was found. Statements from these companies mostly surrounded events, acquisitions and fleet increases, not focusing on the market they operate in.
    Part
    02
    of four
    Part
    02

    Asbestos Removal - NC Market Size

    The research team was not able to determine the asbestos removal market in the North Carolina. We found that the global asbestos market is shrinking, caused by a decline in both asbestos production and consumption, which is currently half of what it was in 1980.

    KEYFINDINGS

    • The top ten asbestos removal services in North Carolina include EMR Services Inc, Carolina Asbestos Services, Action Emergency Restoration Services, MERG+NC Property Rescuers, Restoration Disaster Cleanup, Remtech Environmental LLC, A B CONTROL, INC., Pure Solutions Inc, Asbestos USA — Pennsylvania and Carolina Restoration Services.
    • The global asbestos market is shrinking, caused by a decline in both asbestos production and consumption, which is currently half of what it was in 1980.
    • The Remediation and Environmental Cleanup Services Industry will generate $18 billion in revenue this year, with a growth rate of 2.2% over the 5-year period from 2014 to 2019.
    • Demolition & Wrecking Industry will generate $7 billion in revenue this year, with a growth rate of 2.2% over the 5-year period from 2014 to 2019.
    • According to thomasnet, the Asbestos removal revenue of GEL Engineering is $9 million. This company is among the Asbestos removal companies in North Carolina.

    RESEARCH STRATEGY

    The research team was not able to determine the asbestos removal market in the North Carolina. Strategies, creative approaches and triangulation attempts we have attempted are as follows:
    First, we have searched directly for pre-compiled reports that address the asbestos removal market size in North Carolina. We have scoured various market reports, on sites such as Markets and Markets, Allied Market Research, as well as various industry-specific publications such as Clean-Up Information. In these types of sources, available information focused on the Remediation services market size rather than asbestos cleanup services, with only brief mentions of the subject under investigation. This way, the research team has obtained a number of paywalled reports that possibly answer the query.
    We have then attempted to locate the specific NAICS code for asbestos removal services. Our goal was to use the NAICS code to locate the market size, since Federal Business Opportunities sometimes publish market size information regarding specific cleaning service NAICS codes. This strategy has ultimately failed because we were not able to determine the specific code for asbestos services in particular, search determined "Asbestos removal contractors" are listed under code 562910 along with various other cleaning service types, such as oil spill cleanup services.
    Next, since search determined asbestos removal is part of the Environmental Cleanup Services market and the Demolition & Wrecking Industry market, also since sizes for both the markets are available, we have decided to search for segmentation charts of these markets to find the market share asbestos removal services take up, in order to calculate the asbestos removal market size. However, after searching through various market research sites, business publications and industry reports, no relevant information came up. Again, the information seemed to be available behind paywalls.
    In a second triangulation attempt, the team has turned to searching for the global asbestos market size and the segmentation of the global market by region, hoping to use this information to derive at the requested market size. Again, market research sites and industry-specific publications were searched, however the global market size was not available. Instead, available information focused on irrelevant things such as number of global deaths caused by asbestos in 2017 or the number of employees in the entire asbestos industry.
    As a last resort, the team has decided to search for statements from the top asbestos removal companies in North Carolina, since they likely know the market and might disclose this information publicly. Companies we looked into include EMR Services Inc, Carolina Asbestos Services, Action Emergency Restoration Services, MERG+NC Property Rescuers, among others. Still, after an exhaustive search through each of the identified company websites, press releases and blogs, no relevant information was found. Statements from these companies mostly surrounded events, acquisitions and fleet increases, not focusing on the market they operate in. We couldn't estimate the market size from the top asbestos removal companies because, these companies offered other services apart from asbestos removal and specific revenue from their asbestos removal service was not readily available. Hence, most of the companies are private we could not triangulate their asbestos removal revenue.
    Part
    03
    of four
    Part
    03

    Asbestos Removal - US Growth Rate

    Between 2010 and 2015, the revenues of the top 20 asbestos removal (abatement) companies grew at a cumulative annual growth rate of 6.59% (calculations below). Currently, there are 30 million homes with asbestos products.

    GROWTH RATE BETWEEN 2010 and 2015

    • In 2010, the top 20 asbestos abatement (removal) companies generated revenues of $608.5 million.
    • The top 20 asbestos abatement (removal) companies in 2015 generated revenues of $837.1 million.
    • Therefore, the growth rate in revenues of the top 20 asbestos companies between 2010 and 2015 in the United States was 6.59% (calculations below).

    OTHER HELPFUL FINDINGS

    • In 2018, the United States imported 750 metric tons of asbestos, which was more than double what the country imported in 2017.
    • Between 2011 and 2019, the United States has imported more than 6,000 tons of asbestos, most of which goes into the Chlor-alkali industry.
    • It is estimated that asbestos products are still present in about 30 million homes in the United States.

    Research Strategy:

    We commenced our research into the growth rate of the United States asbestos removal market by searching for market reports from credible research firms such as IBISWorld and Mordor Intelligence. While we did not find any report specific to the asbestos market, we found reports on different industries which the asbestos market is a subset of. These industries include the Remediation and Environmental Cleanup Services Industry and the US Demolition & Wrecking Industry, which have both been included in previous reports. These industry reports did not include the market share of the asbestos removal market represents, which would enable us to calculate the market size of the industry across different years, and then subsequently calculate the growth rate.

    Our next strategy was to identify the top companies in the asbestos market, their revenue across different years, and their market share in the industry, which we could then piggyback on these data points to calculate the market size of the industry across different years. While we came across the ENR's Top Contractor lists for asbestos removal and the revenues of the companies, data on the market share of the companies was harder to come by. First and foremost, we checked each company's website, but found that these companies are mostly private. A press search of these companies did not also reveal any market share data.

    As explained above, we found ENR's Top Contractor lists with the top 20 asbestos removal companies for 2010 and 2015 and their revenues. While ENR has also released more recent lists, these lists are behind paywalls and require a paid subscription to access. As a last resort, we summed the revenue of the top 20 asbestos removal companies for 2010 and 2015 and provided a growth rate between these years. We reckoned that the growth rate of the top 20 companies in the industry can be indicative of the overall growth rate of the industry. Our calculations have been detailed below.

    CALCULATIONS
    According to Engineering News-Record (ENR), the top 20 asbestos abatement (removal) companies in 2010 generated revenues of:

    ENR also reports that the top 20 asbestos abatement (removal) companies in 2015 generated revenues of:

    GROWTH RATE BETWEEN 2010 AND 2015

    Using an online CAGR calculator, and inputting the variables below, we were able to estimate the growth rate between 2010 and 2015.
    • Initial value (2010 revenue): $608.5 million
    • Final value (2015 revenue): $837.1 million
    • Periods (2010-2015): 5
    • Growth rate: Unknown variable
    The growth rate in revenues of the top 20 asbestos companies in the United States was 6.59%.

    Part
    04
    of four
    Part
    04

    Asbestos Removal - NC Market Growth

    The global asbestos market is shrinking, while the Remediation market and the Demolition & Wrecking Industry are steadily growing. Unfortunately, we could not provide the growth rate of the North Carolina market size for asbestos removal.

    KEYFINDINGS

    • One of the top Asbestos removal companies, Carolina Restoration Services has reported a 127% growth in revenue within the past 3 years.
    • The global asbestos market is shrinking, caused by a decline in both asbestos production and consumption, which is currently half of what it was in 1980.
    • The US Demolition & Wrecking Industry will generate $7 billion in revenue this year, with a growth rate of 2.2% over the 5-year period from 2014 to 2019.
    • According to thomasnet, the Asbestos removal revenue of GEL Engineering is $9 million. This company is among the Asbestos removal companies in North Carolina.
    • The top ten asbestos removal services in North Carolina include EMR Services Inc, Carolina Asbestos Services, Action Emergency Restoration Services, MERG+NC Property Rescuers, Restoration Disaster Cleanup, Remtech Environmental LLC, A B CONTROL, INC.,Pure Solutions Inc, Asbestos USA — Pennsylvania and Carolina Restoration Services.

    RESEARCH STRATEGY

    We commenced this research by searching directly for pre-compiled reports that address the asbestos removal market growth in the NC. We have scoured various market reports, on sites such as Markets and Markets, Allied Market Research, as well as various industry-specific publications such as Clean-Up Information. In these types of sources, available information focused on the Remediation services market rather than asbestos cleanup services, with only brief mentions of the subject under investigation. This way, the research team has obtained a number of paywalled reports that possibly answer the query.
    Next, since search determined asbestos removal is part of the Environmental Cleanup Services market and the Demolition & Wrecking Industry market, also since sizes for both the markets are available, we have decided to search for segmentation charts of these markets to find the market share asbestos removal services take up, in order to calculate the asbestos removal market size and growth. However, after searching through various market research sites, business publications and industry reports, no relevant information came up. Again, the information seemed to be available behind paywalls.
    The team then searched for the global asbestos market growth and the segmentation of the global market by region, hoping to use this information to derive at the requested market growth. Again, market research sites and industry-specific publications were searched, however the global market size or growth was not available. Instead, available information focused on irrelevant things such as number of global deaths caused by asbestos in 2017 or the number of employees in the entire asbestos industry.
    As a last resort, the team decided to search for statements from the biggest asbestos removal companies, since they likely know the market and might disclose this information publicly. Companies we looked into include EMR Services Inc, Carolina Asbestos Services, Action Emergency Restoration Services, MERG+NC Property Rescuers, among others. After an exhaustive search through each of the identified company websites, press releases and blogs, We fond that Carolina restoration Services has experienced growth within the past 3 years. Other companies did not provide any growth details.

    Sources
    Sources