Plastic Waste Management Market

Introduction

Plastic Waste management involves various activities, such as plastic waste disposal and plastic waste processing. There are 3 different plastic waste processing activities: incineration, recycling and others.

The global Plastic Waste Management market is estimated to have been valued at US$ 33,681.2 Mn by 2017 end and is expected to reach US$ 45,642.4 Mn by the end of 2026 while expanding at a CAGR of 3.9% over the forecast period. The global Plastic Waste Management market is anticipated to represent incremental opportunity of US$ 11,961.3 Mn between 2018 and 2026. In terms of volume, the global Plastic Waste Management market is estimated to reach 137,096.1 KT by 2018 end and is anticipated to increase to 174,503.3 KT by 2026 while exhibiting a CAGR of 3.5% over the forecast period.

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Shifting Consumer Preference from Conventional Plastic to Recycled Plastic is Escalating the Growth of Plastic Waste Management Market

With shifting preference towards recycled plastic, demand for recycled plastic is anticipated to increase, which in turn, will drive the global plastic waste management market. Various food & beverage companies are focusing on increasing the amount of recycled plastic in their bottles as part of their new sustainable strategy. For instance, in July 2017, Coca-Cola announced that it will double its recycled plastic content in bottles. At present, bottles contain 25% recycled plastic. This will be doubled to 50% by the end of 2020

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Utilization of Plastic Waste for Road Construction: Key Trend in the Plastic Waste Management Market

Plastic is a persistent and toxic material. It comprises 5% of Municipal Solid Wastes (MSW), which is a major threat to the environment. Nowadays, plastics are used in day-to-day life for various purposes, which leads to tonnes of plastic waste in our surroundings. Utilization of plastic waste in road construction can reduce the cost of construction as well as pollution index of environment to an appreciable extent.

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Recycling Segment to Register Highest Value and Volume CAGR Among All Nature of Service Segments in the Plastic Waste Management Market

On the basis of the nature of service, the global Plastic Waste Management market is segmented into disposal and processing. The processing segment in the plastic waste management market is further divided into incineration, recycling and others. The processing segment accounted for more than half of the overall plastic waste management market by the end of 2018. Growing ban on landfills across various European countries is expected to push the demand for plastic waste recycling activities in near future.

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North America Dominates the Global Plastic Waste Management Market; Japan and China Tipped to Be High Growth Markets by the End of Forecast Period

The North America Plastic Waste Management market accounted for a significant value share in 2017 and is forecast to maintain its dominance in the global Plastic Waste Management market over the forecast period. Top 5 countries in Europe are expected to account for around 3/4th of the European plastic waste management market share by the end of 2018.

Rest of Europe in the plastic waste management market is anticipated to create significant incremental opportunity between 2018 and 2026. Top 2 countries in the MEA are expected to account for more than half of the overall plastic waste management market share by the end of 2018.

Market Participants in the Global Plastic Waste Management Market

Some of the market participants reported in this study of global Plastic Waste Management market include B. SCHOENBERG & CO., INC., Advanced Environmental Recycling Technologies, Inc., REPLAS, Clear Path Recycling, PLASgran Ltd., Custom Polymers, Inc., CarbonLITE Industries, LUXUS Ltd., wTe Corporation, KW Plastic, Inc., Kuusakoski Group, Shanghai Pret Composites Co., Ltd., Republic Services, Inc., Reprocesses Plastic, Inc., 4G Recycling Inc., Vanden Global Ltd., TerraCycle, The WasteCare Group and Veolia Environmental SA.

Prominent players involved in the global Plastic Waste Management are focusing on expansion of their processing facilities in the developing economies to meet the ever-increasing demand and gain share in the market. The global Plastic Waste Management market is one of the most fragmented markets as there are a large number of local players involved in the recycling and disposal of plastic waste.

global Plastic Waste Management market