Dublin, Feb. 20, 2024 (GLOBE NEWSWIRE) -- The "Plastic Waste Management Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)" report has been added to ResearchAndMarkets.com's offering.
In the wake of escalating environmental concerns, the global plastic waste management market emerges as a pivotal force in addressing the challenges posed by plastic pollution. Plastic waste management encompasses a spectrum of activities, including disposal and processing, aimed at mitigating the adverse impacts of plastic pollution on our environment. The global Plastic Waste Management market is expected to reach US$46.2 Billion by the end of 2031.
Shifting Consumer Trends Propel Market Expansion
The transition towards recycled plastic signifies a significant shift in consumer preferences, driving the demand for sustainable plastic waste management solutions. Major players in the food and beverage industry, including Coca-Cola, are doubling down on their commitments to incorporate recycled plastic into their packaging, heralding a new era of sustainability-driven initiatives.
Innovative Applications: Plastic Waste in Road Construction
Amidst growing concerns over plastic's persistence and toxicity, innovative solutions such as utilizing plastic waste in road construction are gaining traction. This approach not only reduces construction costs but also curtails environmental pollution, offering a promising avenue for sustainable development.
Recycling Segment Takes Center Stage
Within the plastic waste management market, the recycling segment emerges as a key driver of growth, poised to register the highest value and volume CAGR among all nature of service segments. Stringent regulations and bans on landfills across Europe are anticipated to further bolster demand for plastic waste recycling activities in the near future.
Regional Dynamics: North America Leads the Charge
North America asserts dominance in the global plastic waste management market, with significant value share and sustained growth forecasted over the coming years. Meanwhile, Japan and China emerge as high-growth markets, poised to contribute significantly to market expansion by the end of the forecast period.
Driving Innovation: Key Players in Focus
Prominent market participants, including B. SCHOENBERG & CO., INC., Advanced Environmental Recycling Technologies, Inc., and Veolia Environmental SA, are spearheading efforts to expand processing facilities in developing economies. This strategic approach aims to meet the burgeoning demand for sustainable waste management solutions while solidifying market presence in a highly fragmented landscape.
Competitive Analysis
- B.Schoenberg & Co.
- Advanced Environmental Recycling Technologies, Inc.
- REPLAS
- Clear Path Recycling
- PLASgran Ltd.
- Custom Polymers, Inc.
- Carbon LITE Industries
- LUXUS Ltd.
- wTe Corporation
- KW Plastic, Inc.
- Kuusakoski Group
- Shanghai Pret Composites Co., Ltd.
- Republic Services, Inc.
- Reprocessed Plastic, Inc.
- 4G Recycling Inc.
- Vanden Global Ltd.
- TerraCycle
- The WasteCare Group
- Veolia Environmental SA
- Others.
Global Plastic Waste Management Market Segmentation
By Resin Type
- Thermosetting
- Polyurethane
- Epoxy
- Polyester
- Others (Polyimide, Silicone, etc.)
- Thermoplastic- Polyethylene Terephthalate (PET)
- Polyethylene (PE)
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
- Polypropylene (PP)
- Others (Nylon, PC, etc.)
By Nature of Service
- Disposal
- Processing
- Incineration
- Recycling
- Others (Pyrolysis, fuel, etc.)
By Source of Waste Collection
- Containers & Packaging
- Construction
- Electric & Electronic Components
- Industrial Process Waste
- Automotive Scrapyard
- Household & Municipal Waste
- Others (Marine, Agriculture, etc.)
For more information about this report visit https://www.researchandmarkets.com/r/oj6ur2
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