How Has the Plastic Waste Management Market Size Evolved in Recent Years?
The plastic waste management market has seen considerable growth due to a variety of factors.
• Over the past few years, the market size of plastic waste management has consistently expanded. It is projected to increase from $38.85 billion in 2024 to $40.65 billion in 2025, with a compound annual growth rate (CAGR) of 4.6%.
This growth during the historic period can be credited to the robust economic progress in emerging markets, company efforts towards plastic waste, advancements in technology, and a surge in plastic usage in diverse industrial sectors.
How Will The Plastic Waste Management Market Size Evolve In The Foreseeable Future?
The plastic waste management market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, robust growth is anticipated in the plastic waste management market, with its size forecasted to expand to $51.11 billion by 2029, representing a compound annual growth rate (CAGR) of 5.9%.
This growth during the predicted period can be ascribed to factors such as solid economic expansion in emerging markets, companies' efforts towards plastic waste, technological progressions, and elevated usage of plastics in diverse industrial sectors. The forecast period is expected to witness major trends such as the development of novel technological solutions, the emphasis on zero-waste packaging systems, the use of artificial intelligence for effective recycling management, focus on upcycle process technologies, and adoption of environmentally friendly feasible technologies.
Which Drivers Are Accelerating Growth In The Plastic Waste Management Market?
The ascending consciousness on plastic handling is predicted to play a crucial role in fueling the expansion of the plastic waste management sector. This heightened understanding prompts several end-users to opt for recycled plastics, further promoting the growth of this industry. Owing to the expanding cognizance about plastic management, numerous corporations have made substantial strides towards the adoption of reusable plastics. For instance, Coca-Cola, an American beverage firm, announced a pioneering goal in February 2022 to significantly ramp up its utilization of reusable packaging. The firm also anticipates that by 2030, at least 25% of all its beverages would be sold in refillable plastic bottles or containers. This growing comprehension about plastic management is bound to ensure effective plastic waste management. Hence, this awareness about managing plastic is projected to turbocharge the advancement of the plastic waste management sector.
What Are The Core Segments Of The Globa Plastic Waste Management Market?
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
Subsegments:
1) By Collection: Residential Plastic Waste Collection, Commercial Plastic Waste Collection, Industrial Plastic Waste Collection, Curbside Collection Programs, Drop-off Centers
2) By Recycling: Mechanical Recycling, Chemical Recycling, Advanced Recycling Technologies, Upcycling, Recycling Facilities And Processing
3) By Incineration: Waste-to-Energy (WtE) Plants, Incineration With Energy Recovery, Hazardous Plastic Waste Incineration
4) By Landfills: Sanitary Landfills, Controlled Landfills, Landfill Management Services, Post-Closure Care For Landfills
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Which Emerging Trends Are Reshaping The Plastic Waste Management Market?
The primary trend in the plastic waste management market is technological innovation. Key stakeholders in the industry are adopting novel technologies to enhance their market standing. These firms are utilizing breakthrough technologies such as artificial intelligence, blockchain, machine learning, satellite mapping, genetic engineering of chemicals, nanotechnology, among others, to mitigate environmental damage caused by plastic waste. For instance, BASF SE, a chemical company based in Germany, launched the ChemCycling initiative in February 2024. The goal of ChemCycling is to convert hard-to-recycle plastic waste into useful raw materials, including mixed plastics and those with residues usually destined for landfill or incineration. Their Ccycled products are high-tech recycled building blocks derived from plastic waste, certified by ISCC+, and able to partially substitute virgin materials in uses such as superabsorbent polymers, engineering plastics, and polyurethanes.
Who Are the Key Players in the Plastic Waste Management Market?
Major companies operating in the plastic waste management market include:
• 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
• Plantic Technologies Limited
• Total Corbion PLA
• PLASgran Ltd Remondis SE & Co KG
• Covanta Holdings
• KW Plastics
• Biochemtex
• Novamont S.p.A
• Avantium N.V
• Sulapac
• Amsilk GmBH
• 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
What are the Regional Insights into the Plastic Waste Management Market?
North America was the largest region in the plastic waste management market in 2024. 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.
