Westford,USA, Aug. 10, 2023 (GLOBE NEWSWIRE) -- The global Plastic Waste Management market size is expected to reach USD 43.32 billion by 2030 and exhibit a CAGR of 3.1% in the forecast period (2023−2030), according to Skyquest's latest research report. The increasing public awareness of environmental issues, stringent government regulations and policies, growing adoption of recycling and circular economy initiatives, rising demand for sustainable packaging solutions, expansion of waste-to-energy technologies, innovation in plastic recycling technologies, corporate sustainability commitments, international collaborations for waste reduction, economic incentives for recycling, and concerns over marine pollution and wildlife conservation is fueling the market's growth.
According to SkyQuest's latest global research of the Plastic Waste Management market, increasing emphasis on plastic waste reduction at the source, advancements in plastic recycling technologies, development of bio-based and biodegradable plastics, growth of plastic-to-fuel conversion processes, rise of extended producer responsibility (EPR) initiatives, expansion of plastic waste collection infrastructure, adoption of innovative sorting and separation techniques, focus on creating closed-loop systems, incorporation of digital solutions for waste tracking and management, and collaboration between industries, governments, and NGOs to address plastic pollution challenges are the trends that aid in the market's growth.
Browse in-depth TOC on "Plastic Waste Management Market"
- Pages - 260
- Tables - 124
- Figures -77
Plastic waste management is the collection, processing, and disposal of plastic waste. It is a complex issue that involves a variety of stakeholders, including governments, businesses, and individuals.
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Prominent Players in Plastic Waste Management Market
- Agilyx
- American Plastic Recycling Company (APR)
- Biffa
- Cleanaway
- Covanta Energy
- Daiseki
- Evergreen Eco Services
- KWR
- Plasmatreat
- Plastipak Holdings
- Plastics for Change
- Recology
- Suez
- The Recycling Partnership
- Veolia
Report Scope & Segmentation:
| Attributes | Details |
| Forecast Period | 2023-2030 |
| Market Size in 2022 | 33.92 Billion |
| 2030 Value Projection | 43.32 Billion |
| CAGR | 3.1% |
| Segments Covered |
|
| Regions Covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Source Reduction Demand to Grow Substantially in the Forecast Period
Source reduction dominated the global online market as it focuses on minimizing the generation of plastic waste at its origin. This approach emphasizes designing products with reduced plastic content, encouraging reusable alternatives, and promoting sustainable consumer behavior. As awareness of plastic's environmental impact grows, efforts to reduce plastic usage at the source could gain prominence.
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Packaging Waste Management is the Leading Application Segment
In terms of application, packaging waste management is the leading segment due to their contribution to plastic waste. Increasing awareness of plastic pollution, regulatory efforts to ban or limit single-use plastics, and consumer demand for sustainable packaging alternatives could drive the sales of packaging waste management solutions.
Europe is the leading Market Due to the Technological Advancements
Europe has been at the forefront of environmental sustainability efforts, with stringent regulations and policies aimed at reducing plastic waste. The European Union's Circular Economy Action Plan and its directives to reduce plastic usage and improve recycling infrastructure could position the region as a dominant player in the plastic waste management market.
A recent report thoroughly analyzes the major players operating within the Plastic Waste Management market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Plastic Waste Management.
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Key Developments in Plastic Waste Management Market
- In January 2023, Agilyx acquired Plastic Energy. This acquisition will give Agilyx access to Plastic Energy's technology for converting plastic waste into oil.
- In March 2023, Suez acquired Cleanaway. This acquisition will create a global leader in waste management. Cleanaway is a leading waste management company in Australia and New Zealand.
Key Questions Answered in Plastic Waste Management Market Report
- What specific growth drivers will impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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