Plastic waste management market will reach USD 41.58 billion

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Pune, India, Aug. 25, 2022 (GLOBE NEWSWIRE) — The world Plastic waste management market size is expected to reach USD 41.58 billion by 2027 growing at a CAGR of 3.1% during the forecast period. The increasing consumption of plastic products globally has led to the implementation of waste management, which in turn can drive healthy market growth.

According to Fortune Business Insights, titled, “Plastic Waste Management Market Size, Industry Share, and Analysis, By Source (Industrial Waste and Municipal Waste), By Material (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polystyrene, and Others), by product type (packaging, construction, automotive, electrical and electronics and others), by treatment method (collection, recycling and disposal {landfill and incineration}) and regional forecast, 2020-2027. The market size stood at USD 32.91 billion in 2019.

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The Report Lists Leading Companies of Plastic Waste Management Market:

  • Waste Management Inc. (USA)
  • SUEZ Group (France)
  • Veolia Environment SA (France)
  • Biffa PLC (UK)
  • Clean Harbors Inc. (USA)
  • Covanta Holdings Corporation (USA)
  • Hitachi Zosen Corporation (Japan)
  • Remondis AG & Co. Kg (Germany)
  • Republic Services Inc. (USA)
  • Stericycle Inc. (USA)
  • ALBA Group (Germany)
  • Recology (USA)
  • TANA Oy (Finland)
  • Envac Group (Sweden)

The outbreak of the coronavirus has caused the downfall of the global economy. We understand that this health emergency has had a negative impact on various sectors around the world. Growing support from governments and several companies can help fight this highly infectious virus. Some industries are struggling and others are thriving. It is estimated that almost all sectors are more or less affected by this pandemic.

Report Scope and Segmentation:

Report cover Details
Forecast period 2020-2027
Forecast CAGR 3.1%
2027 value projection $41.58 billion
base year 2021
Plastic waste management market size in 2019 $32.91 billion
Historical data 2016-2018
Number of pages 120
Segments Covered By type, end user and regional information
Plastic Waste Management Market Growth Drivers Construction of a plastic recycling plant by the SUEZ group to support growth
Significant demand for waste management services to intensify the market

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Key development:

June 2019: The SUEZ Group has announced its intention to build a plastic recycling plant in Thailand. The plant will be able to recycle 30 kilos of plastic waste per year.

March 2019: Veolia Environnement SA and Nestlé SA have entered into a partnership to address the critical problem of plastic waste from flexible packaging in eleven priority countries in Asia, Africa, Latin America and Europe.

market engine:

Increased focus on environmental preservation to drive growth

The growing focus of large companies on the plastic value chain to eliminate plastic pollution will intensify the market in the foreseeable future. For example, in January 2019, more than 30 global companies created a new “Alliance to End Plastic Waste” in London to eliminate plastic pollution, especially plastic that enters the oceans.

The initiative involves an investment of US$1.5 billion over the next five years. Global participation through strategies will facilitate plastic waste management, education and engagement at all levels of communities, and cleanup of existing areas polluted with concentrated plastic. Thus, the increasing adoption of plastic waste management services to achieve sustainable goals in the future will facilitate the growth of the market.

Regional analysis:

High accumulation of waste to present immense potential for the Asia-Pacific market

The Asia-Pacific market is expected to account for the largest share of the global market owing to the growing production of plastic waste per capita in the region. Urbanization and industrialization have led to a huge accumulation of waste, thus creating opportunities for the market. China is the largest contributor to plastic waste generation, accounting for over 60% of the share.

Likewise, India is expected to account for a high market share during the forecast period. The implementation of strict environmental policies in Japan, South Korea, Australia and New Zealand will help in the expansion of the market in Asia-Pacific. However, the lack of proper collection and management along with the existing “throwaway culture” may hamper the market growth in the region.

This report answers the following questions:

  • What are the opportunities and market dynamics?
  • Which companies would hold the largest share of the market?
  • Which region is expected to show the highest growth in the global plastic waste management market?
  • What are the strategies adopted by the major players to increase the sales of the Plastic Waste Management industry?

Browse Detailed Abstract of Research Report with TOC:

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Contents:

  • Introduction
    • Search scope
    • Market segmentation
    • Research Methodology
    • Definitions and assumptions
  • Summary
  • Market dynamics
    • Market factors
    • Market constraints
    • Market opportunities
  • key ideas
    • Key emerging trends in the global market
    • Latest technological advances
    • Overview of the regulatory scenario
    • Analysis of the five forces of carriers
    • Main developments: acquisition, collaboration, strategic partnership and joint venture
  • Global Plastic Waste Management Market Analysis, Outlook and Forecast – By Source, 2016-2027
    • Main results/summary
    • Market Analysis, Outlook and Forecast – By Source
  • Global Plastic Waste Management Market Analysis, Outlook and Forecast – By Material, 2016 – 2027
    • Main results/summary
    • Market Analysis, Outlook and Forecast – By Material
      • Polyethylene
      • Polypropylene
      • Polyethylene terephthalate
      • Polystyrene
      • Others
  • Global Plastic Waste Management Market Analysis, Outlook and Forecast – By Product Type, 2016 – 2027
    • Main results/summary
    • Market Analysis, Outlook and Forecast – By Product Type
      • Packaging
      • Construction
      • Automotive
      • Electrical and Electronic
      • Others
  • Global Plastic Waste Management Market Analysis, Outlook and Forecast – By Treatment Method, 2016-2027
    • Main results/summary
    • Market Analysis, Outlook and Forecast – By Processing Method
      • Collection
      • Recycling
      • Arrangement
        • Landfill
        • Incineration
  • Global Plastic Waste Management Market Analysis, Outlook and Forecast – By Region, 2016 – 2027
    • Main results/summary
    • Market Analysis, Outlook and Forecast – By Region
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East and Africa

TOC Continued…!

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