Global Plastic Waste Management Market Is Likely To Grow At A CAGR Value Of Around 2.9% By 2028

The Plastic Waste Management Market was worth around USD 33219.5 million in 2021 and is estimated to grow to about USD 39435.3 billion by 2028, with a compound annual growth rate (CAGR) of approximately 2.9 percent over the forecast period. The report analyzes the digital remittance market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the digital remittance market.

Plastic waste management entails a variety of operations such as plastic waste processing and disposal in order to reuse plastic products rather than dumping this plastic trash into bodies of water and landfills. Recycled plastic is employed in the production of new items. The factors such as economic growth, increasing urbanisation, industrialization, and changing lifestyles of people have increased the levels of plastic waste generation, resulting in an increasing threat to the environment is driving the markets growth in the forecast period. In addition, with advances in consumer education and rising awareness about health and the environment, awareness about plastic waste management has grown dramatically, fueling market expansion in the next years. People's rising income levels and population growth have created new prospects for the plastic waste management business. The plastic market is growing significantly because of its unique features and vast range of applications. Additionally, advanced technologies and frameworks used for the reprocessing, arranging, and collection of recyclable plastics will add to the market's rise in the coming years. Plastic garbage, which is non-biodegradable and contributes significantly to greenhouse gas emissions, is also increasing, potentially leading to massive ecological problems. As a result, the increasing need for proper plastic waste disposal management is expected to drive the market throughout the forecast period. Furthermore, the market is expected to be driven by rules and guidelines implemented by governments and relevant organisations across the globe for plastic waste disposal management over the forecast period.

The Plastic Waste Management Market is segregated based on service, polymer type, source, and end-use application. Based on service, the global market is distinguished into Collection & transportation, Recycling, Incineration, and Landfills. Based on polymer type, the global market is distinguished into Polypropylene (PP), Low-density polyethylene (LDPE), High-density polyethylene (HDPE), Polyvinyl chloride (PVC), Polyurethane (PUR), Polystyrene (PS), Polyethylene, terephthalate (PET), and Others (thermoset and thermoplastics (not included in the above segmentation such as SPI code 7 plastics, melamine-formaldehyde, bakelite, and others polyester resins)). Based on source, the global market is distinguished into Commercial & institutional, Residential, Industrial, and others (waste generated due to construction & demolition activities and agricultural waste). Based on end-use application, the global market is distinguished into Packaging, Building & construction, Textile &clothing, Automotive, Furniture, and Others (electrical & electronic components and appliances; specific applications in aerospace & defense, toys, and other stationery products).

During the projection period, the Asia Pacific plastic waste management industry led the market. Growing population, expanding GDP, and rising disposable income in Asia Pacific are causing more solid waste (including plastic garbage) to be generated, which is presenting opportunity for the region's market. Infrastructural development in Asia Pacific's underdeveloped and developing countries is fuelling the emergence of various plastic waste management systems in this region. Environmental policies with tight rules and regulations, as well as high collection rates of plastic trash, are supporting the growth of the plastic waste management revenue in industrialised countries such as Japan, Austria, South Korea, and New Zealand.

Over the forecast period, the North American market is expected to grow fast in terms of revenue. The growing awareness of the need of waste management is one element driving growth in the region's target market. The United States is a major exporter of plastic items used in the recycling process. Due to limited infrastructure, poor planning, and a lack of suitable training and knowledge, Central and South America, as well as the Middle East and Africa, do not contribute a major market share in comparison to other regions. However, governments in the countries are focusing on programmes to improve plastic waste management, which is expected to drive the market in these regions over the forecast period.

Key players functioning in the Plastic Waste Management Market include Veolia Environnement (France), SUEZ (France), Waste Management, Inc. (US), Republic Services (US), Waste Connections Inc (Canada), Clean Harbors (US), Biffa (UK), Covanta Holding Corporation (US), Stericycle (US), and Remondis SE & Co. KG (Germany).

Recent developments:

• In 2021, Biffa plc, the UK's leading sustainable waste management company, is happy to announce the completion of a deal to buy Green Circle Polymers Ltd (GCP) in Grangemouth, Scotland's sole postconsumer plastics recycling facility (PRF). The acquisition strengthens Biffa's market-leading plastics recycling capability by increasing recyclable plastic feedstock, in line with the Group's aim to triple its plastic recycling capacity by 2030. The facility is also capable of sorting colored plastic material and metal cans.
• In 2020, LyondellBasell and SUEZ acquired TIVACO, a plastics recycling company based in Blandain, Belgium, jointly. The acquisition will boost recycled material production capacity at the businesses' current 50/50 plastics recycling joint venture, Quality Circular Polymers (QCP).

Browse the full “Plastic Waste Management Market By Service (Collection & transportation, Recycling, Incineration, and Landfills). By Polymer Type (Polypropylene (PP), Low-density polyethylene (LDPE), High-density polyethylene (HDPE), Polyvinyl chloride (PVC), Polyurethane (PUR), Polystyrene (PS), Polyethylene, terephthalate (PET), and Others (thermoset and thermoplastics (not included in the above segmentation such as SPI code 7 plastics, melamine-formaldehyde, bakelite, and others polyester resins))). By Source (Commercial & institutional, Residential, Industrial, and others (waste generated due to construction & demolition activities and agricultural waste)). By End-Use Application (Packaging, Building & construction, Textile &clothing, Automotive, Furniture, and Others (electrical & electronic components and appliances; specific applications in aerospace & defense, toys, and other stationery products)).” Report at https://www.zionmarketresearch.com/report/plastic-waste-management-market

The Plastic Waste Management Market is segmented as follows:

By service

• Collection & transportation
• Recycling
• Incineration
• Landfills

By Polymer Type

• Polypropylene (PP)
• Low-density polyethylene (LDPE)
• High-density polyethylene (HDPE)
• Polyvinyl chloride (PVC)
• Polyurethane (PUR)
• Polystyrene (PS)
• Polyethylene
• terephthalate (PET)
• Others (thermoset and thermoplastics (not included in the above segmentation such as SPI code 7 plastics, melamine-formaldehyde, bakelite, and others polyester resins))

By source

• Commercial & institutional
• Residential
• Industrial
• Others (waste generated due to construction & demolition activities and agricultural waste)

By End-Use application

• Packaging
• Building & construction
• Textile & clothing
• Automotive
• Furniture
• Others (electrical & electronic components and appliances; specific applications in aerospace & defense, toys, and other stationery products)

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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