May 18th, 2022
Plastic Waste Management Market
Plastic Waste Management Market is envisaged to register a CAGR of 3% over the forecast period (2020-2027), reaching a value of USD 42 Billion by 2027. Growing environmental concern about the harmful impact of non-degradable plastic waste has driven the market size.
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Accelerating population, intensified research and development, ongoing technological innovations, and growing rural to urban migration are some prime forces driving the global plastic waste management market growth. Also, with the rising environmental concern, government across the nations have enforced stringent environmental norms to manage the plastic waste material, which has bolstered the market growth. Plastic waste management helps minimize harmful carbon emissions, thus, the growing carbon emissions have directly influenced the adoption of the management technique.
However, with the sudden outbreak of coronavirus, the use of plastics has increased, owing to the drastic increase in online fast-food orders. The growing awareness about the benefits of plastic waste management method has inclined them towards recyclable plastic which has bolstered the market Plastic Waste Management Market size.
By polymer type, the Polypropylene (PP) segment is predicted to witness a promising CAGR during the forecast period. Rising use of polypropylene polymer to produce plastic because of the remarkable properties which include moisture and chemical resilience across different acids & bases, better flexural strength, decreased cost, and improved impact strength.
By end-use application, the Packaging segment is forecast to boom over the forecast period owing to the growing concern about the harmful impact of plastic. Further, the Plastic Waste Management Market report asserts that the augmenting use of packaged food across different countries is further driving the segment’s growth.
By region, Asia-Pacific is projected to emerge as the fastest growing nation over the forecast period, owing to the rising awareness and initiatives by the government to encourage the adoption of plastic waste management services across China and India. Moreover, the growing need for plastic waste management due to accelerating population and rising disposable income of the consumers will fuel the market growth.
Plastic Waste Management Market Segmentation:
Plastic Waste Management Market by Service
· Collection & Transportation
Plastic Waste Management Market by Polymer Type
· Low-Density Polyethylene (LDPE)
· Polypropylene (PP)
· Polyvinyl Chloride (PVC)
· High-Density Polyethylene (HDPE)
· Polystyrene (PS)
· Polyurethane (PUR)
· Polyethylene Terephthalate (PET)
Plastic Waste Management Market by Source
· Commercial & Institutional
Plastic Waste Management Market by End-Use Application
· Building & Construction
· Textile & Clothing
· Recycled Plastics in Other End-Use Applications
Plastic Waste Management Market by Region:
· Asia Pacific
o Rest of APAC
· North America
o United States of America
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
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