Due to causes like economic growth, escalating urbanisation, industrialization, and people’s changing lifestyles, the amount of plastic waste produced has surged, posing an increasing threat to the environment.
Plastic Waste Management Market Size – USD 36.96 Billion in 2021, Growth – at a CAGR of 5.4%, Trends – As the population and average income levels of people have increased, the plastic waste management industry has recognised new opportunities.
The global Plastic Waste Management Market size was USD 36.96 Billion in 2021 and is expected to register a revenue CAGR of 5.4% over the forecast period, according to the latest report by Reports and Data.
Several factors are driving the demand for plastic waste management services, including:
- Increasing awareness about the environmental impact of plastic waste.
- Government regulations and initiatives to reduce plastic waste.
- Growing adoption of recycling and waste reduction practices by businesses and consumers.
- Rising demand for recycled plastic products.
- Increasing global population and urbanization leading to a rise in plastic consumption.
Overall, the plastic waste management market is expected to grow in the coming years, driven by increasing demand for sustainable waste management practices.
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Top Companies: Veolia Environment, Waste Connections Inc., Covanta Holding Corporation, Stericycle, SUEZ, Waste Management Inc., Clean Harbors, Waste Connections Inc., Remondis SE, Biffa
Further Key Finding from the Report Suggestion:
- The plastic waste management market was dominated by the recycling segment in 2021. Government regulations that are strict and a significant expansion of recycling infrastructure are credited with this. There are several uses for recycled plastic. In the coming years, it is anticipated that the collecting segment would grow the fastest. The most important and challenging service is collecting. Key participants in the plastic waste management market offer collection services for residential, commercial, and industrial plastic waste.
- In 2021, the plastic waste management market was dominated by Asia-Pacific. This is a result of escalating industrialisation and the strict enforcement of laws governing the disposal of plastic garbage and other materials. North America is anticipated to grow at the quickest rate and achieve a CAGR of 15.5% during the projected period. This is attributable to growing awareness of the need to lessen the carbon footprint that plastic trash has on the environment.
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The global Plastic Waste Management market is segmented into:
Service Outlook (Revenue, USD Billion; 2019-2030)
Polymer Outlook (Revenue, USD Billion; 2019-2030)
- Low density polyethylene
- High density polyethylene
- Polyvinyl chloride
Source Outlook (Revenue, USD Billion; 2019-2030)
End Use Outlook (Revenue, USD Billion; 2019-2030)
- Consumer product
- Building & construction
- Electrical & electronics
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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