Global Plastic Waste Management Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Global Plastic Waste Management Market: Overview
"The Plastic Waste Management Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Various types of plastic products in the form of containers, packaging materials, bags, equipment, toys, etc., have become an integral part of an individual's daily life. Plastic products are non–degradable and remain in the ecosystem even after several years and cause adverse effects on the ecosystem.
Plastic recycling is also limited as it can be recycled only two to three times as thermal degradation reduces the strength of the material made with plastic. Plastic waste management includes collection, transportation, recycling, and disposal of plastic waste. In case of recycling plastic, it collects all the plastic waste and processes it into useful products.
Global Plastic Waste Management Market: Dynamics
The growing population, coupled with rapid industrialization as well as urbanization, are resulting in high amount of plastic waste. Stringent government rules and regulations regarding plastic waste is a major factor expected to boost the adoption for waste management services and drive the growth of the global plastic waste management market over the forecast period.
Plastic waste management includes collection, sorting, baling, crushing and washing, regeneration, and converting plastic waste into semi finite products, is anticipated to propel the demand for services and drive the target market. However, improper plastic waste management causes water and land pollution and releases toxic gases such as carbon monoxide, Sulphur dioxide, phosgene, and other deadly oxides in the atmosphere which may affect ecosystems and restrain growth of the global market.
in addition, lack of infrastructure for proper plastic waste management compared to the amount of generated plastic waste is another challenging factor that could affect market growth. Growing awareness regarding requirements of plastic waste management among individuals is expected to create a lucrative opportunity for the global market growth.
Global Plastic Waste Management Market: Segment Analysis
Based on end users, the packaging segment is expected to dominate the global market in revenue over the forecast period. Increasing use of cost-effective plastic, which is designed for one-time use is a factor supporting growth of the segment in the plastic waste management market. The growing use of plastic packaging for food and beverages, electronic appliances, clothes, etc. is also a factor anticipated to fuel growth of packaging segment.
Global Plastic Waste Management Market: Regional Analysis
Currently, the market in North America accounts for a major share in terms of revenue and is expected to maintain its dominance over the forecast period. Growing awareness regarding the importance of waste management is a factor driving the growth of the target market in the region.
Europe accounts for the second-highest share in the potential market, owing to stringent government regulation in the region. Market in the Asia Pacific is anticipated to register a lucrative growth in terms of revenue shortly, owing to government initiatives and awareness regarding plastic waste management, especially in developing countries such as China and India in the region.
Global Plastic Waste Management Market Segmentation:
Segmentation by Polymer Type:
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- High-density polyethylene (HDPE)
- Low-density polyethylene (LDPE)
- polystyrene (PS)
- Polyvinyl chloride (PVC)
- Polyurethane (PUR)
- Others (Bakelite, Thermoset, etc.)
Segmentation by Service:
- Collection and Transportation
Segmentation by Source:
- Commercial and Institutional
- Others (Agricultural Waste, Construction, etc.)
Segmentation by End User:
- Building and Construction
- Textile and Clothing
- Others (Aerospace and Defense, Electronic Components and Appliances, etc.)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Veolia Environnement S.A.
- Waste Management Inc.
- Republic Services, Inc.
- SUEZ Environnement SA
- Stericycle, Inc.
- Progressive Waste Solutions Ltd.
- Advanced Environmental Recycling Technologies, Inc.
- Clean Harbors, Inc.
- Remondis SE & Co. KG
- Covanta Holding Corporation
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