Plastic Waste Management Market Size Was Valued $33.22 Bn in 2021 and is Forecast to Grow Around $39.44 Bn by 2028, Expanding at a CAGR of Nearly 2.9% During the Forecast Period

Houston, TX, March 04, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Plastic Waste Management Market By Service (Collection & Transportation, Recycling, Incineration, And Landfills). By Polymer Type (Polypropylene (PP), Low-Density Polyethylene (LDPE), High-Density Polyethylene (HDPE), Polyvinyl Chloride (PVC), Polyurethane (PUR), Polystyrene (PS), Polyethylene, Terephthalate (PET), And Others (Thermoset And Thermoplastics (Not Included In The Above Segmentation Such As SPI Code 7 Plastics, Melamine-Formaldehyde, Bakelite, And Others Polyester Resins))). By Source (Commercial & Institutional, Residential, Industrial, And Others (Waste Generated Due To Construction & Demolition Activities And Agricultural Waste)). By End-Use Application (Packaging, Building & Construction, Textile &Clothing, Automotive, Furniture, And Others (Electrical & Electronic Components And Appliances; Specific Applications In Aerospace & Defense, Toys, And Other Stationery Products)). And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022-2028” in its research database.

“According to the latest research study, the demand of global Plastic Waste Management Market size & share in terms of revenue was valued at USD 33.22 Billion in 2021 and it is expected to surpass around USD 39.44 Billion mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 2.9 % during the forecast period 2022 to 2028.”

What is Plastic Waste Management? How big is the Plastic Waste Management Industry?

Plastic Waste Management Market Coverage & Overview:

The environmental buildup of used plastic items is referred to as plastic garbage. More than half of the plastic manufactured worldwide is utilized in single-serve products. The plastic is not biodegradable and may endure a very long time after being disposed of. Untreated plastic waste has serious negative effects on both the environment and human health. The government's implementation of tight rules governing plastic disposal, management, and recycling of harmful materials, as well as growing awareness of environmental issues related to plastic, are the main factors propelling the plastic waste management market throughout the projection period.

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Global Plastic Waste Management Market: Growth Factors

Plastic waste management entails a variety of operations such as plastic waste processing and disposal in order to reuse plastic products rather than dumping this plastic trash into bodies of water and landfills. Recycled plastic is employed in the production of new items. The factors such as economic growth, increasing urbanization, industrialization, and changing lifestyles of people have increased the levels of plastic waste generation, resulting in an increasing threat to the environment is driving the markets growth in the forecast period. In addition, with advances in consumer education and rising awareness about health and the environment, awareness about plastic waste management has grown dramatically, fueling market expansion in the next years. People's rising income levels and population growth have created new prospects for the plastic waste management business.

The plastic market is growing significantly because of its unique features and vast range of applications. Additionally, advanced technologies and frameworks used for the reprocessing, arranging, and collection of recyclable plastics will add to the market's rise in the coming years. Plastic garbage, which is non-biodegradable and contributes significantly to greenhouse gas emissions, is also increasing, potentially leading to massive ecological problems. As a result, the increasing need for proper plastic waste disposal management is expected to drive the market throughout the forecast period. Furthermore, the market is expected to be driven by rules and guidelines implemented by governments and relevant organisations across the globe for plastic waste disposal management over the forecast period.

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Report Scope

Plastic Waste Management Market: Segmentation Analysis

The Plastic Waste Management Market is segregated based on service, polymer type, source, and end-use application.

Based on service, the global market is distinguished into Collection & transportation, Recycling, Incineration, and Landfills.

Based on polymer type, the global market is distinguished into Polypropylene (PP), Low-density polyethylene (LDPE), High-density polyethylene (HDPE), Polyvinyl chloride (PVC), Polyurethane (PUR), Polystyrene (PS), Polyethylene, terephthalate (PET), and Others (thermoset and thermoplastics (not included in the above segmentation such as SPI code 7 plastics, melamine-formaldehyde, bakelite, and others polyester resins)).

Based on source, the global market is distinguished into Commercial & institutional, Residential, Industrial, and others (waste generated due to construction & demolition activities and agricultural waste).

Based on end-use application, the global market is distinguished into Packaging, Building & construction, Textile &clothing, Automotive, Furniture, and Others (electrical & electronic components and appliances; specific applications in aerospace & defense, toys, and other stationery products).

The global Plastic Waste Management market is segmented as follows:

By service

• Collection & transportation
• Recycling
• Incineration
• Landfills

By Polymer Type

• Polypropylene (PP)
• Low-density polyethylene (LDPE)
• High-density polyethylene (HDPE)
• Polyvinyl chloride (PVC)
• Polyurethane (PUR)
• Polystyrene (PS)
• Polyethylene
• terephthalate (PET)
• Others (thermoset and thermoplastics (not included in the above segmentation such as SPI code 7 plastics, melamine-formaldehyde, bakelite, and others polyester resins))

By source

• Commercial & institutional
• Residential
• Industrial
• Others (waste generated due to construction & demolition activities and agricultural waste)

By End-Use application

• Packaging
• Building & construction
• Textile & clothing
• Automotive
• Furniture
• Others (electrical & electronic components and appliances; specific applications in aerospace & defense, toys, and other stationery products)

Browse the full “Plastic Waste Management Market By Service (Collection & transportation, Recycling, Incineration, and Landfills). By Polymer Type (Polypropylene (PP), Low-density polyethylene (LDPE), High-density polyethylene (HDPE), Polyvinyl chloride (PVC), Polyurethane (PUR), Polystyrene (PS), Polyethylene, terephthalate (PET), and Others (thermoset and thermoplastics (not included in the above segmentation such as SPI code 7 plastics, melamine-formaldehyde, bakelite, and others polyester resins))). By Source (Commercial & institutional, Residential, Industrial, and others (waste generated due to construction & demolition activities and agricultural waste)). By End-Use Application (Packaging, Building & construction, Textile &clothing, Automotive, Furniture, and Others (electrical & electronic components and appliances; specific applications in aerospace & defense, toys, and other stationery products)).” Report at https://www.zionmarketresearch.com/report/plastic-waste-management-market

Competitive Landscape

Some of the main competitors dominating the global Plastic Waste Management market include - 

• Veolia Environnement (France)
• SUEZ (France)
• Waste Management, Inc. (the US)
• Republic Services (US)
• Waste Connections Inc (Canada)
• Clean Harbors (US), Biffa (UK)
• Covanta Holding Corporation (US)
• Stericycle (US)
• Remondis SE & Co. KG (Germany).

 Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Plastic Waste Management market is likely to expand at a CAGR of around 2.9 % during the forecast period (2022-2028).                  
• In terms of revenue, the Plastic Waste Management market size was valued at around US$ 33.22 Billion in 2021 and is projected to reach US$ 39.44 Billion by 2028.
• Based on type segmentation, In the global plastic waste management market, polypropylene is expected to be the fastest-growing polymer sector 2021.
• Based on application segmentation, The packaging category, which dominated the market with the biggest share 2021.
• On the basis of geography, the “Asia Pacific accounted for the greatest revenue share in the market 2021.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Plastic Waste Management industry?
• What are the main driving factors propelling the Plastic Waste Management Market forward?
• What are the leading companies in the Plastic Waste Management Industry?
• What segments does the Plastic Waste Management Market cover?
• How can I receive a free copy of the Plastic Waste Management Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2022−2028
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By service, By polymer type, By source, By end-use application and by Geography
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

During the projection period, the Asia Pacific plastic waste management industry led the market. Growing population, expanding GDP, and rising disposable income in Asia Pacific are causing more solid waste (including plastic garbage) to be generated, which is presenting opportunity for the region's market. Infrastructural development in Asia Pacific's underdeveloped and developing countries is fuelling the emergence of various plastic waste management systems in this region. Environmental policies with tight rules and regulations, as well as high collection rates of plastic trash, are supporting the growth of the plastic waste management revenue in industrialized countries such as Japan, Austria, South Korea, and New Zealand.

By Region

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • France
  • UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Recent Developments

In 2021, Biffa plc, the UK's leading sustainable waste management company, is happy to announce the completion of a deal to buy Green Circle Polymers Ltd (GCP) in Grangemouth, Scotland's sole postconsumer plastics recycling facility (PRF). The acquisition strengthens Biffa's market-leading plastics recycling capability by increasing recyclable plastic feedstock, in line with the Group's aim to triple its plastic recycling capacity by 2030. The facility is also capable of sorting colored plastic material and metal cans.

In 2020, LyondellBasell and SUEZ acquired TIVACO, a plastics recycling company based in Blandain, Belgium, jointly. The acquisition will boost recycled material production capacity at the businesses' current 50/50 plastics recycling joint venture, Quality Circular Polymers (QCP).

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