The new report by Expert Market Research titled, ‘Global Plastic Waste Management Market Size, Share, Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global plastic waste management market, assessing the market based on its polymer type, service and equipment, source, end-use and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 32.9 Billion
• Forecast CAGR (2023-2028): 3.04%
• Forecast Market Size (2026): USD 39.4 Billion
Plastic garbage output has increased as a result of factors such as expanding urbanisation, industrialisation, economic expansion, and people’s changing lifestyles, posing an increasing environmental concern. As a result of the increasing requirement for plastic waste management as a result of increased plastic waste output, the sector is predicted to rise.
Plastic Waste Management Industry Definition and Major Segments
The increased use of plastic is generating plastic garbage, which is non-biodegradable and is responsible for considerable greenhouse gas emissions, which can lead to massive ecological problems. As a result, the growing requirement for appropriate plastic waste disposal management is expected to drive the market throughout the forecast period.
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The industry can be broadly categorised based on its polymer type into:
• Low-Density Polyethylene (LDPE)
• Polyvinyl Chloride (PVC)
• Polystyrene (PS)
• Polypropylene (PP)
• High-Density Polyethylene (HDPE)
• Polyethylene Terephthalate (PET)
The industry can be segmented on the basis of its service and equipment as:
The industry can be divided based on its source as:
• Commercial and Institutional
The industry can be categorised on the basis of its end-use as:
• Building and Construction
• Textile and Clothing
• Wood and Furniture
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Plastic Waste Management Market Trends
The packaging segment of the recycled plastic trash market is expected to develop at the greatest CAGR in terms of value during the forecast period, based on end-use application. The demand for recycled plastics is fueled by a variety of benefits (such as reduced pollution and reduced reliance on fossil fuels) and its widespread use in sustainable packaging solutions.
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 prospects for the region’s market. The growth of various ways of plastic waste management is being fueled by infrastructure development in Asia Pacific’s underdeveloped and developing countries.
Key Market Players
The major players in the market are Waste Management, Inc. (NYSE: WM), Republic Services, Inc., Clean Harbors, Inc., Advanced Disposal Services, Inc., Remondis SE & Co. KG, Suez S.A., Clear Path Recycling, LLC, Carbon LITE Industries, Veolia Environnement S.A. and among others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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