Westford, USA, Nov. 18, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the Plastic Waste Management market will attain a value of USD 48.68 billion by 2031, with a CAGR of 3.4% over the forecast period (2024-2031). Rising emphasis on sustainability and growing environmental issyes caused by plastic waste are primarily driving the demand for plastic waste management around the world. Increasing investments in development of novel plastic waste management technologies and imposition of strict waste management regulations are also expected to drive plastic waste management market growth in the future.
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Browse in-depth TOC on "Plastic Waste Management Market"
- Pages - 197
- Tables - 95
- Figures – 76
Plastic Waste Management Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 37.26 billion |
| Estimated Value by 2031 | $ 48.68 billion |
| Growth Rate | Poised to grow at a CAGR of 3.4% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Service, Polymer, Source, End-Use, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Development of novel plastic waste recycling technologies |
| Key Market Drivers | Imposition of strict waste management mandates and high emphasis on sustainability |
LDPE Polymers are Projected to Account for a Lion’s Share in the Global Plastic waste management Market
High use of LDPE (low-density polyethylene) polymers in multiple daily products, ranging from carry bags to water bottles, has resulted in a high volume of plastic waste worldwide. This is why most plastic waste management efforts are focused on this polymer and it holds a dominant share of the global market. Improper management of LDPE waste disposal has resulted in high demand for plastic waste management in this segment.
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Demand for Plastic waste management in Industrial Sources is Projected to Rise at a Rapid Pace as Industrialization Picks Up Pace
Industrialization is increasing rapidly around the world especially in developing economies such as India, China, and Brazil. This has resulted in increased plastic waste from different industries which in turn is projected to promote the demand for novel plastic waste management solutions and services. From packaging to product development, use of plastic is quite extensive in industries, which further cements the demand for plastic waste management in this segment going forward.
Efforts to Reduce Carbon Footprint Allow North America to Dominate Global Plastic waste management Demand
Governments in North American region is focusing on reducing the carbon footprint from their countries to boost sustainability and control global warming. Plastic waste management plays a crucial role in helping achieve this and growing awareness regarding harmful impact of plastic waste on environment is also helping this region maintain its dominant stance. The United States is forecasted to be the most opportune market for plastic waste management providers in this region.
Plastic Waste Management Market Insights:
Drivers
- Rising emphasis on sustainability and environment conservation
- Growing awareness regarding harmful impact of plastic waste
- Imposition of stringent waste management and disposal regulations
Restraints
- Absence of proper waste management infrastructure
- High costs of plastic waste management
Prominent Players in Plastic Waste Management Market
- Veolia Environnement SA
- Waste Management, Inc.
- SUEZ
- Republic Services, Inc.
- Covanta Holding Corporation
- Clean Harbors, Inc.
- REMONDIS SE & Co. KG
- Biffa Group Limited
- TerraCycle
- CarbonLITE Industries LLC
Key Questions Answered in Plastic Waste Management Market Report
- What drives the global plastic waste management market growth?
- Who are the leading plastic waste management providers in the world?
- Which region leads the demand for plastic waste management in the world?
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This report provides the following insights:
- Analysis of key drivers (rising plastic waste volume, growing emphasis on sustainability, imposition of stringent waste management regulations), restraints (high costs of plastic waste management, lack of proper waste management infrastructure), and opportunities (integration of advanced technologies to improve waste management operations, development of new plastic waste recycling technologies), influencing the growth of Plastic Waste Management market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Plastic Waste Management market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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