Plastic Waste Management Market 2019 Industry Analysis, Recent Trends, Key Players, Size, Trends, Opportunities, Growth, Competitive Analysis and Forecasts to 2023

Plastic Waste Management Market Share, Size, Trends, And Business Opportunity Analysis Report 2019 include historic data, with forecast data to 2023.

Pune, India - May 10, 2019 /MarketersMedia/ —

Plastic Waste Management Industry report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2023.

The global plastic waste management market is predominantly segmented into four major regions such as North America, Europe, Asia Pacific, and Rest of the World. Plastic waste management market is well-established in North America and developed European countries due to various governmental initiatives and stringent regulation to curb down carbon emission, which has lead the waste management market in this region flourishing. Asia Pacific currently witnessing a steady growth due to unawareness and reluctance among the government to promote and implement waste management, however, few emerging economies such as, China, Japan, South Korea and India are currently promoting numerous beneficial programs to spread awareness among the population regarding hygiene, healthcare, and benefits of waste management.

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Key Players of Global Plastic Waste Management Market Are:

Veolia Environnement S.A. (France), SUEZ Environnement Company (France), Waste Management Inc. (U.S.), Republic Services Inc. (U.S.), Stericycle Inc. (U.S.), ADS Waste Holdings, Inc. (U.S.), Remondis SE & Co. KG (Germany), Clean Harbors Inc. (U.S.), Hawkvale Limited (UK), Hahn Plastics Limited (UK), Covanta Holding Corporation (U.S.), Progressive Waste Solutions Ltd. (Canada), Luxus Limited (U.K.), PLASgran Ltd. (U.K.), and United Plastic Recycling, Inc. (U.S.)

The global plastic waste management market is expected to grow at a CAGR of ~3% during the forecast period.

Market Scenario:

Recycling of the plastic is principal need of the society as it not only safeguards energy recovery but also diminishes the carbon footprint. Each ton of plastic, which is recycled, about seven yards of the land can be conserved from landfills and almost 80% of energy can be preserved for the production of brand new plastic material. Plastic is fairly cheap and versatile, recycled plastic is utilized to manufacture a large range of the products such as, carpets, garbage bags, cloths, films, bottles and containers. This recycling process for plastic is augmented to propel the plastic waste management market over the forecast period.

Market Segmentation

Global plastic waste management market is segmented based on service & equipment, polymer, source and end-user sector and region. Based on the service & equipment, the market is segmented into collection, recycling, incineration, and disposal. The recycling is anticipated to dominate the plastic waste management market over the review period 2017-2023. The numerous advantages of recycling with growing government initiative to promote recycling is driving the growth of this segment. Based on the polymer, the market is further segmented into polypropylene (PP), low-density polyethylene (LDPE), high-density polyethylene (HDPE), polyvinyl chloride (PVC), and others. Polypropylene dominated the market in 2016 and is projected to be the fastest-growing polymer segment in the global plastic waste management market. Polypropylene holds the largest share of the global plastic market due to high availability and cheap cost. Based on the source, the market is segmented into residential, commercial and industrial. Residential segment dominated the product segment in 2016 and is expected to witness a phenomenal growth over the forecast period. The dominant position of the segment is due to the rise in urbanization coupled with residential waste. Based on the end-use sector, the market is segmented into packaging, building & construction, textile & clothing, automobile, and others. The packaging segment dominated market with the highest share in 2016 and is expected to grow at the highest CAGR over the forecast period 2017-2023 due to a wide range of application of the plastic material in the packaging sector, which needs to recycle further after primary application.

Regional Analysis:

The plastic waste management program is widely practiced in North America and Europe owing to supportive regulations and rising awareness among the population regarding hazards related to plastic waste. Enhanced recycling rate is expected provide an ideal opportunity to new emerging economies activities and create new jobs across the globe. Moreover, it is expected to offer improved plastic waste management system and reduce consumption of fossil fuels as well as diminish greenhouse gas emissions.

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