Overview and Scope
Plastic waste management refers to managing and processing plastic waste to make it reusable. Plastic waste management aims to encourage plastic production with circular materials, and ensure a high uptake of recycled plastics. These management techniques help in reducing the amount of waste in the ecosystem, pollution from the atmosphere, and the elimination of harmful germs and chemicals.
Sizing and Forecast
The plastic waste management market size has grown steadily in recent years. It will grow from $37.36 billion in 2023 to $39.22 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to strong economic growth in emerging markets, corporate initiatives for plastic waste, technological advancements and an increased use of plastics across various industrial sectors.
The plastic waste management market size is expected to see strong growth in the next few years. It will grow to $48.21 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to strong economic growth in emerging markets, corporate initiatives for plastic waste, technological advancements and an increased use of plastics across various industrial sectors. Major trends in the forecast period include developing new technological solutions, focusing on zero waste packaging platforms, leveraging artificial intelligence for efficient management of recycling, focusing on upcycle process technologies and adopting eco-friendly viable technologies.
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Segmentation & Regional Insights
The plastic waste management market covered in this report is segmented –
1) By Services: Collection, Recycling, Incineration, Landfills
2) By Source: Residential, Commercial And Institutional, Industrial
3) By Plastic Type: Polyethylene Terephthalate (PET or PETE), High-Density Polyethylene (HDPE), Polyvinyl Chloride (PVC or Vinyl), Low-Density Polyethylene (LDPE), Polypropylene (PP), Polystyrene (PS or Styrofoam), Other Plastic Types
4) By End User: Packaging, Textiles, Consumer Products, Transportation, Building And Construction, Electrical And Electronics, Other End Users
North America was the largest region in the plastic waste management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plastic waste management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in awareness about plastic management is expected to a significant factor driving the growth of the plastic waste management industry. The awareness about plastic management induces various end-users to use recycled plastic which will boost the growth of the plastic waste management industry. Due to the rising awareness about plastic management, several companies have taken significant steps toward reusable plastics. For instance, in February 2022, Coca-Cola, a US-based beverage company, declared an industry-leading objective to increase its use of reusable packaging significantly. Additionally, by 2030, the company hopes to have a minimum of 25% of all beverages sold in refillable plastic bottles or containers. This increasing awareness of plastic management will invariably result in proper plastic waste management. Therefore, awareness about plastic management is expected to propel the growth of the plastic waste management industry.
Key Industry Players
Major companies operating in the plastic waste management market report are Waste Management Inc, Veolia Environnement S.A, Suez SA, Republic Services Inc, Waste Connections Inc, Stericycle Inc, Biffa Plc, Hitachi Zosen Corporation, ALBA Group, Remondis A/S, Replas, LG Chem, BioPak, UFlex, EsselPropack, Balson Industries, Kingfa Sci. & Tech Co., Ltd, GuangDong Huazhilu Biological Material Co., Ltd, Mitsubishi Chemical Corporation, Plantic Technologies Limited, Total Corbion PLA, Xinghua Xinfeng Plastic Co, Ltd, PLASgran Ltd Remondis SE & Co KG, Covanta Holdings, KW Plastics, Biochemtex, Novamont S.p.A, Avantium N.V, Sulapac, Amsilk GmBH, Carbios Amcor, Clean Harbors, TerraCycle, WM Intellectual Property Holdings, United Plastic Recycling, GFL Environmental Inc, ENF Recycling, Braskem, Fluxana GmbH Co. KG, New Hope Ecotech, Boomera, Flottweg SE, PDL software ambiental, EcoMachine, Mundo Livres, Lamor Corporation Ab, Andritz AG, Amandus Kahl GmbH & Co. KG, Bee’ah, Trident Trackway, Master Skip Services, Globalex Group of companies, RecycleHub Company, Averda, Al Dhafra Recycling, Suhul al Beeah pvt ltd, Mr. Green Africa, Dow Packaging and Specialty Plastics, FabricAid, GreenRepublic, Kudoti, WeCyclers, Jumeni, Coliba Ghana Ltd, Premier Waste Services
The plastic waste management market report table of contents includes:
1. Executive Summary
2. Plastic Waste Management Market Characteristics
3. Plastic Waste Management Market Trends And Strategies
4. Plastic Waste Management Market – Macro Economic Scenario
5. Global Plastic Waste Management Market Size and Growth
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32. Global Plastic Waste Management Market Competitive Benchmarking
33. Global Plastic Waste Management Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Plastic Waste Management Market
35. Plastic Waste Management Market Future Outlook and Potential Analysis
36. Appendix
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