waste product vs waste matter

waste product and waste matter both are nouns.

Word	Noun	Adjective	Verb	Adverb
waste product	Yes	No	No	No
waste matter	Yes	No	No	No

As nouns, waste product and waste matter are synonyms defined as:

waste product and waste matter: any materials unused and rejected as worthless or unwanted

Other synonyms of waste product include waste, waste material.

waste product (noun)	waste matter (noun)
any materials unused and rejected as worthless or unwanted	any materials unused and rejected as worthless or unwanted