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Plastic Waste Management Market Share, Industry Growth, Trends, Business Opportunities, Challenges, Growth Insights to 2026

 


The global Plastic Waste Management Market size is projected to reach USD 41.58 billion by 2027, exhibiting a CAGR of 3.1% during the forecast period. Unchecked plastic pollution levels during the COVID-19 pandemic is expected to create unique growth opportunities for the market, suggests Fortune Business Insights™ in its report, titled Plastic Waste Management Market Size, Share & Industry Analysis, By Source (Industrial Waste and Municipal Waste), By Material (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polystyrene and Others), By Product Type (Packaging, Construction, Automotive, Electrical & Electronics and Others), By Treatment Method (Collection, Recycling and Disposal {Landfilling & Incineration}) and Regional Forecast, 2020-2027”.


Market Driver


Proactive Initiatives by Governments to End Plastic Pollution to Boost the Market


Governments worldwide are taking decisive steps to curb the menace of plastic pollution, which is likely to stoke the plastic waste management market growth in the coming years. For example, in June 2019, Canada, with the world’s longest coastline, announced that it will be banning single-use plastic products by 2021. In the US, cities such as San Diego are actively prohibiting the use of Styrofoam, a commonly used plastic in disposable dishes, spoons, and forks. Even in developing economies, the efforts towards removing or minimizing plastic use is gaining momentum. For example, in January 2019, Peru ordered the ban of single-use plastics in protected natural parks and national museums across the country. The success of these initiatives wholly depends on the effective implementation of plastic waste management methods, which augurs well for this market.



List of Players Profiled in the Plastic Waste Management Market Research Report are:



  • Envac Group (Sweden)

  • Recology (USA)

  • Stericycle Inc. (USA) 

  • Remondis AG & Co. Kg (Germany)

  • Covanta Holdings Corporation (USA)

  • Biffa PLC (U.K.)

  • SUEZ Group (France)

  • TANA Oy (Finland)

  • ALBA Group (Germany)

  • Republic Services Inc. (USA)

  • Hitachi Zosen Corporation (Japan)

  • Clean Harbors Inc. (USA)

  • Veolia Environment S.A. (France)

  • Waste Management Inc. (USA)


Gain More Insights into the Plastic Waste Management Industry Research Report: https://www.fortunebusinessinsights.com/plastic-waste-management-market-103063


As per the report, the value of the market was at USD 32.91 billion in 2019. The report also offers the following:



  • Thorough impact analysis of the COVID-19 pandemic on the market;

  • In-depth examination of the market drivers and industry trends;

  • Detailed assessment of the restraints holding back market growth; and

  • Exhaustive study of the regional prospects and competitive dynamics influencing the market.


Regional Insights


High Plastic Consumption to Augment the Market in Asia Pacific


In 2019, the market size in Asia Pacific was at USD 11.08 billion and the region is expected to dominate the plastic waste management market share during the forecast period. The region’s leading position is attributable to the high per capita plastic consumption and waste generation in the developing countries of India, China, and Vietnam, with China being the largest contributor among these.


North America boasts of a robust plastic waste processing infrastructure, which is supported by a strong presence of well-established solid waste management companies in the region. These companies also have a deep and entrenched distribution network, which further strengthens the regional market.

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