Global Plastic Waste Management Market Size 2024, Forecast To 2033
11 Mar, 2024
The plastic waste management market has grown steadily, increasing from $37.36 billion in 2023 to $39.22 billion in 2024, with a CAGR of 5.0% during the historical period. This growth is attributed to strong economic growth in emerging markets, corporate initiatives for plastic waste management, technological advancements, and an increased use of plastics across various industrial sectors. Looking ahead to 2028, the market is anticipated to see strong growth, reaching $48.21 billion at a CAGR of 5.3%. Growth drivers in the forecast period include continued strong economic growth in emerging markets, corporate initiatives for plastic waste management, technological advancements, and an increased use of plastics across various industrial sectors. Major trends in the forecast period include the development of new technological solutions, a focus on zero-waste packaging platforms, the utilization of AI for efficient recycling management, emphasis on upcycle process technologies, and the adoption of eco-friendly viable technologies.
Global Plastic Waste Management Market Key Driver
The rise in awareness about plastic management is anticipated to be a significant factor propelling the growth of the plastic waste management industry. Increasing awareness about responsible plastic management encourages end-users to adopt recycled plastics and supports the growth of the plastic waste management sector. Major companies, such as Coca-Cola, have committed to substantial increases in the use of reusable packaging, with a target of having at least 25% of all beverages sold in refillable plastic bottles or containers by 2030. The heightened awareness about plastic management practices is expected to drive the adoption of proper plastic waste management strategies, contributing to the overall growth of the industry. In 2028, the plastic waste management industry continues to thrive as awareness campaigns drive sustainable plastic management practices.
Get A Free Sample Of The Global Plastic Waste Management Market ReportGlobal Plastic Waste Management Market Segments
The plastic waste management market covered in this report is segmented –
1) By Services: Collection, Recycling, Incineration, Landfills
2) By Source: Residential, Commercial And Institutional, Industrial
3) By Plastic Type: Polyethylene Terephthalate (PET or PETE), High-Density Polyethylene (HDPE), Polyvinyl Chloride (PVC or Vinyl), Low-Density Polyethylene (LDPE), Polypropylene (PP), Polystyrene (PS or Styrofoam), Other Plastic Types
4) By End User: Packaging, Textiles, Consumer Products, Transportation, Building And Construction, Electrical And Electronics, Other End Users
By Geography:The regions covered in the plastic waste management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the plastic waste management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the plastic waste management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Plastic Waste Management Industry Players
Waste Management Inc, Veolia Environnement S.A, Suez SA, Republic Services Inc, Waste Connections Inc, Stericycle Inc, Biffa Plc, Hitachi Zosen Corporation, ALBA Group, Remondis A/S, Replas, LG Chem, BioPak, UFlex, EsselPropack, Balson Industries, Kingfa Sci. & Tech Co., Ltd, GuangDong Huazhilu Biological Material Co., Ltd, Mitsubishi Chemical Corporation, Plantic Technologies Limited, Total Corbion PLA, Xinghua Xinfeng Plastic Co, Ltd, PLASgran Ltd Remondis SE & Co KG, Covanta Holdings, KW Plastics, Biochemtex, Novamont S.p.A, Avantium N.V, Sulapac, Amsilk GmBH, Carbios Amcor, Clean Harbors, TerraCycle, WM Intellectual Property Holdings, United Plastic Recycling, GFL Environmental Inc, ENF Recycling, Braskem, Fluxana GmbH Co. KG, New Hope Ecotech, Boomera, Flottweg SE, PDL software ambiental, EcoMachine, Mundo Livres, Lamor Corporation Ab, Andritz AG, Amandus Kahl GmbH & Co. KG, Bee’ah, Trident Trackway, Master Skip Services, Globalex Group of companies, RecycleHub Company, Averda, Al Dhafra Recycling, Suhul al Beeah pvt ltd, Mr. Green Africa, Dow Packaging and Specialty Plastics, FabricAid, GreenRepublic, Kudoti, WeCyclers, Jumeni, Coliba Ghana Ltd, Premier Waste Services
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Plastic Waste Management Market Overview
Plastic waste management refers to managing and processing plastic waste to make it reusable. Plastic waste management aims to encourage plastic production with circular materials, and ensure a high uptake of recycled plastics. These management techniques help in reducing the amount of waste in the ecosystem, pollution from the atmosphere, and the elimination of harmful germs and chemicals.
Plastic Waste Management Global Market Report 2023 provides data on the global plastic waste management market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The plastic waste management market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.