Vancouver, Oct. 02, 2023 (GLOBE NEWSWIRE) -- The global Plastic Waste Management Market is projected to reach value of USD 46.84 Billion by 2032, according to a current analysis by Emergen Research. Production of plastic has doubled over the last few years. Globally, the demand for plastic has increased from 325 million tons in 2015 to 335 million tons in 2016.
The plastic is a material that can be molded or shaped by heating. Automotive companies have made significant efforts to recycle plastic components and to use recycled plastic contents. In the U.S., where landfill space is increasing, the EPA (Environment Protection Agency) is collecting all relevant information to handle the life cycle management (LCM) area with more caution.
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The global market for plastic waste management is expected to remain in a competitive and fairly fragmented landscape in the near future, consisting of a large number of small start-ups, medium enterprises, and large conglomerates. Increasing demand for technological advancements and high diversification in the products offered provides high growth potential to new players.
Scope of Research
| Report Details | Outcome |
| Market size in 2019 | USD 32.46 Million |
| CAGR (2020–2027) | 2.8% |
| Revenue forecast in 2032 | USD 46.84 Billion |
| Base year for estimation | 2019 |
| Historical data | 2016–2018 |
| Forecast period | 2020–2032 |
| Quantitative units | Revenue in USD Billion, volume in Million Metric Tons, and CAGR from 2020 to 2027 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Polymer type, source, service, application, and region |
| Regional scope | North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
| Country scope | U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey |
| Key companies profiled | Veolia Environment, SUEZ, Waste Management, Inc., Republic Services, Waste Connctions, Inc, Biffa, Stericycle, Clean Harbors, Covanta Holding Corporation, and United Plastic Recycling, Inc. |
| Customization scope | 10 hours of free customization and expert consultation |
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Competitive Landscape
The market for plastic waste management is mostly on the consolidated side, with a large number of conglomerates as well as medium-sized and start-up companies accounting for a major share of the global market. Key players operating in the plastic waste management market are desegregated across the value chain. These companies are well-equipped with large production facilities and are also engaged in various research and development activities. Some of the key players in the market are:
- Veolia Environment
- SUEZ
- Waste Management, Inc.
- Republic Services
- Waste Connections, Inc.
- Biffa
- Stericycle
- Clean Harbors
- Covanta Holding Corporation
- United Plastic Recycling, Inc.
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In May 2019, Veolia Environment and L.C. Packaging signed a strategic agreement to reduce the amount of flexible packaging waste worldwide.
In October 2020, Waste Management, Inc. announced to have completed acquiring the outstanding shares of Advanced Disposal, following the receipt of required regulatory approvals.
A report published by an international coalition of environmental activists identifies several companies as the world's largest plastic polluters. Coca-Cola, PepsiCo, and Nestle are at the top.
Further Key Findings from Report Suggest:
- Polyethylene terephthalate (PET) is useful for the containment of CO2, which is found in soda bottles and ziplock bags. PET can be recycled into other forms of plastics, which can be reused for carpet fibers. PET is not a safe option to reuse, as it is highly susceptible to bacterial growth and it can release harmful toxins with reuse.
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For this report, Emergen Research has segmented the global plastic waste management market based on polymer type, source, service, application, and region:
- Polymer Type Outlook
- Polyethylene
- Polypropylene
- Low-density Polyethylene (LDPE)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- Source Outlook
- Residential
- Industrial
- Commercial
- Others
- Service Outlook (Revenue: USD Billion; 2017–2027)
- Recycling
- Energy Recovery
- Landfills
- Application Outlook (Revenue: USD Billion; 2017–2027)
- Packaging
- Construction
- Textile
- Building & Construction
- Others
- Regional Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2017–2027)
- North America
- U.S.
- Canada
- Europe
- Russia
- U.K.
- Germany
- France
- BENELUX
- Asia Pacific
- China
- Japan
- South Korea
- India
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- Rest of MEA
- North America
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