Supply Chain Ecosystem Analysis now part of DBMR Reports
Market Size in USD Billion
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USD 34.85 Billion |
| USD 45.54 Billion | |
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Global Plastic Waste Management Market, By Polymer Type (Thermosetting, Thermoplastic), Services (Landfills, Collection, Recycling, Energy Recovery), Source (Industrial, Residential, Commercial and Institutional, Others), End-Use Sector (Wood and Furniture, Textiles, Construction, Packaging, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
The global plastic waste management market has been largely growing owing to the increased integration of new and innovative technologies in recycling plants and trash management systems, such as big data and machine learning (ML). Furthermore, rising awareness of the environmental consequences of improperly dumping plastic trash, notably its influence on marine ecosystems, is estimated to fuel the worldwide plastic waste management market's expansion over the forecasted period.
Global Plastic Waste Management Market was valued at USD 34.85 billion in 2021 and is expected to reach USD 45.54 billion by 2029, registering a CAGR of 3.40% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Plastic waste management refers to methods and procedures for recycling plastic waste instead of depositing it in landfills or polluting the environment in other ways. Plastic waste management is aided by a reduction in the usage of virgin plastic in product manufacturing.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Polymer Type (Thermosetting, Thermoplastic), Services (Landfills, Collection, Recycling, Energy Recovery), Source (Industrial, Residential, Commercial and Institutional, Others), End-Use Sector (Wood and Furniture, Textiles, Construction, Packaging, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Veolia (France), SUEZ (France), WM Intellectual Property Holdings, L.L.C. (U.S.), LUXUS Ltd. (UK)., Reprocessed Plastics, Inc. (U.S.), Republic Services, Inc., (U.S.), Waste Connections (Canada), Clean Harbors, Inc., (U.S.), Biffa (UK), Covanta Holding Corporation (U.S.), Stericycle, Inc., (U.S.), and Remondis SE & Co. KG (Germany), B. Schoenberg & Co., Inc. (U.S.), REPLAS (Australia), Clear Path Recycling (U.S.), CUSTOM POLYMERS (U.S.), Vanden Global Ltd. (China), WasteCare (UK)., PLASgran Ltd. (UK) and REMONDIS SE & Co. KG (Germany)
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Market Opportunities
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This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
The growth in various initiatives by government as well as the manufacturers are estimated to carve a way for the growth of the market. As part of their new sustainable strategy, a number of food and beverage firms are focusing on increasing the proportion of recycled plastic in their bottles. Coca-Cola, for example, declared in July 2017 that it will treble the amount of recycled plastic in its bottles. Currently, 25% of bottles are made of recycled plastic. By the end of 2020, this will have quadrupled to 50%. Therefore, these factors will aid the market growth over the forecasted period.
Furthermore, the surge in industrialization and urbanization will further propel the growth rate of plastic waste management market. There has been growing awareness about environmental issues caused by the plastics which has largely create demand for plastic waste management across the globe. Additionally, the growing population, the emergence of circular economy and the growing income levels of people will also drive market value growth. The acceptance of bottles made of recycled plastics over those made of polymers using oil products, which produce less CO2, and the packaging industry's increased demand for recyclable raw materials, are also propelling the market forward.
Opportunities
Furthermore, the initiation of private and public sector partnership in regards of waste management extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the stringent regulations implemented by government regarding the plastic disposal and management as well as the recycling of toxic materials will further expand the future growth of the plastic waste management market.
Restraints/Challenges
The municipalities and other waste management stakeholders face a significant threat from improper garbage disposal. Improper garbage disposal can have a significant impact on the health of those who live near polluted areas or landfills. Skin irritations, blood infections, respiratory problems, growth disorders, and even reproductive issues can all be caused by inadequately treated plastic wastes. Unscientific treatment, inappropriate garbage collection, and ethical issues such as dumping e-waste are all key issues affecting plastic waste management. As a result, environmental degradation, water pollution, soil pollution, and air pollution become a problem, limiting the waste management market's growth.
The petrochemicals, such as oil and natural gas, are the primary raw resources used to make virgin plastics. Several additives are used in the production of plastic products, including fillers and colorants. Most recycling firms are unaware of what is added to plastic, which has an impact on plastic recycling. Moreover, separating plastic from various types of waste streams is a difficult task when using thermochemical techniques to recover energy. Plastic sorting is an important stage in various waste management systems. Furthermore, sorting and segregating plastic (according to its many grades, types, and the mix of additives employed) is time-consuming and costly when compared to the production of fresh plastic from petrochemicals, which is far less expensive. Therefore, this factor will challenge the plastic waste management market growth rate.
Additionally, the factors such as the fewer treatment plants coupled with the lack of expertise for the recycling of plastic waste also hampers the market growth. The less participation of source sectors in the management of plastic waste also impedes the growth of the market over forecast period.
This plastic waste management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the plastic waste management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
The recent outbreak of coronavirus had a huge impact on the plastic waste management market. As the number of COVID-19 cases in the region increased, so did the amount of plastic garbage generated, particularly in healthcare facilities. As a result, in 2020, there will be a higher need for plastic waste management services. This largely boosted the market’s growth during the pandemic.
Furthermore, the increased demand for plastic waste management services in the region during the outbreak was fueled by the rising danger of unintentional infection as a result of poor garbage disposal, which included hazardous medical waste. Furthermore, throughout the projection period, favorable government waste management activities are expected to promote sales of plastic waste management services in Asia-Pacific. Over the forecast period, the aforementioned determinants will largely boost on the market's revenue trajectory.
The plastic waste management market is segmented on the basis of polymer type, services, source and end-use sector. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Polymer Type
Services
Source
End-Use Sector
The plastic waste management market is analyzed and market size insights and trends are provided by country, polymer type, services, source and end-use sector as referenced above.
The countries covered in the plastic waste management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the plastic waste management market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the rapid industrialization and disposable income.
North America on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the various governmental initiatives and stringent regulation associated with carbon emissions within the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The plastic waste management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to plastic waste management market.
Some of the major players operating in the plastic waste management market are
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To support market growth and help clients navigate the impact of geopolitical shifts, DBMR has integrated in-depth supply chain analysis into its Global Plastic Waste Management Market research reports. This addition empowers clients to respond effectively to global changes affecting their industries. The supply chain analysis section includes detailed insights such as Global Plastic Waste Management Market consumption and production by country, price trend analysis, the impact of tariffs and geopolitical developments, and import and export trends by country and HSN code. It also highlights major suppliers with data on production capacity and company profiles, as well as key importers and exporters. In addition to research, DBMR offers specialized supply chain consulting services backed by over a decade of experience, providing solutions like supplier discovery, supplier risk assessment, price trend analysis, impact evaluation of inflation and trade route changes, and comprehensive market trend analysis.
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.