Asia Pacific Plastic Waste Management Market: Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Source, Services, End-User, Polymer, and Country

Asia Pacific Plastic Waste Management Market Definition:

Plastic recycling helps to the value-added benefits of plastic by reducing its toxicity. Recycled plastics can also be used to make bottles, containers, bags, films, and other packaging products that are environmentally friendly. The trend of reprocessing waste materials and recovering waste plastics is growing, owing to the numerous benefits associated with it, including a reduction in the amount of waste transported to landfills and incinerators, conservation of natural resources, and pollution prevention.

 

Further, the Asia Pacific Plastic Waste Management market is segmented by polymer type, distribution services, source, end-user, and geography. On the basis of polymer, the Asia Pacific Plastic Waste Management market is segmented under Polypropylene, Low-density Polyethylene, High-density polyethylene, Polyvinyl chloride, and Terephthalate. Based on the Services, the market is segmented under collection, Recycling. Landfills and Incineration. Based on End-User, the market is segmented under packaging, Textile, Consumer product, Transportation, building and construction and electrical & electronics. Based on Source, the market is segmented under Residential, Commercial, Industrial. By geography, the market covers the major countries in Asia Pacific i.e., India, China, Japan, Australia and Rest of Asia Pacific For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

 

 

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Asia Pacific Plastic Waste Management COVID 19 Insights:

The previous coronavirus outbreak has a significant influence on the plastic waste management market. The amount of plastic waste generated in the region increased as the number of COVID-19 cases increased, particularly in healthcare facilities. As a result, the demand for plastic waste management services will increase by 2020. This significantly contributed to the market's growth during the pandemic.

 

Asia Pacific Plastic Waste Management Market Dynamics:

Market challenge – Difficulty in managing supply chains: The pandemic has put commercial sectors under a lot of stress. Almost every firm sector, including the plastic waste management market sector, experienced significant challenges in product manufacturing and distribution during the pandemic. As a result of the closure of Asian marketplaces and tonnes of cargo shipments, many investors and shareholders have experienced large losses in their company sectors.

 

During the forecast period, the plastic waste management market will face challenges due to a lack of treatment plants and awareness. The management of plastic waste and the infrastructure for waste management are not well understood. Many suppliers and manufacturing facilities dump their plastic waste into bodies of water or on land on a regular basis. For controlling the plastic waste, there are relatively few effective policies and procedures. One of the most significant obstacles to the growth of the plastic waste management market is this.

 

Market Drivers: The generation of plastic waste has risen in accordance with the growth of infrastructure activities. This offers up more possibilities for waste management. The number of commercial spaces such as hospitals, malls, theatres, educational institutions, restaurants, and others is growing, resulting in an increase in the amount of plastic waste produced. This is also raising awareness about plastic recycling, waste plastic recovery, and waste material reprocessing. This is one of the major elements driving the plastic waste management market demand.

 

Market Restraints: Collection, sorting, baling, crushing and washing, regeneration, and transforming plastic waste into semi-finite products are all expected to generate demand for services and drive the target market. However, improper plastic waste management contaminates water and land and releases poisonous gases into the atmosphere such as carbon monoxide, sulphur dioxide, phosgene, and other harmful oxides, which can damage ecosystems and hamper the market growth.

 

Asia Pacific Plastic Waste Management Market Segment Analysis:

By Service, The market is divided into four categories based on service: collection, recycling, incineration, and landfills. The landfills sector is expected to dominate the plastic waste management market in terms of volume during the forecast period. Because there are fewer recycling plants and incinerators, waste is managed, resulting in a rise in plastic waste disposals and landfills. During the review period, the recycling market is expected to grow rapidly. Recycling's numerous benefits, combined with a growing government commitment to promoting recycling, and is propelling this segment's growth.

 

 

By End User, Packaging, Building & Construction, Textile & Clothing, Automotive, Furniture, and Others are the end-use applications that the market is divided into (electrical & electronic components and appliances; specific applications in aerospace & defence, toys, and other stationery products). Because of the wide range of applications of plastic material in the packaging market, which requires further recycling after primary application, the packaging category, which dominated the market with the largest share, is likely to rise during the forecast period.

 

The numerous benefits of recycled plastics (such as reduced pollution and reduced dependency on fossil fuels), as well as their extensive use in sustainable packaging solutions (such as containers, bottles, bags, films, and other protective packaging goods), are driving up demand.

 

By Polymer type, Polypropylene (PP), Low-density polyethylene (LDPE), High-density polyethylene (HDPE), Polyvinyl chloride (PVC), Polyurethane (PUR), Polystyrene (PS), Polyethylene, terephthalate (PET), and Others (thermoset and thermoplastics, plastics, melamine-formaldehyde, bakelite, and other polyester resins) are the different types of polymers used in the market Polypropylene is forecast to be the fastest-growing polymer segment in the plastic waste management market. Polypropylene has the highest share of the plastic market due to its high availability and low cost.

 

By Source, The market is divided into three categories based on the source: industrial, residential, and commercial. Industrial waste is the largest and fastest-growing segment of the market. Plastic waste is thought to be primarily generated by industries. The rise of the segment is mostly due to the increasing industrialization of developing economies. Because of the strict environmental regulations, it is critical for industrial enterprises to dispose of plastic waste properly.

 

 

Asia Pacific Plastic Waste Management Market Key Players Insights:

The market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the market, key players in the market, particularly in this region, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Asia Pacific Plastic Waste Management market to the stakeholders in the industry. The report provides trends that are most dominant in theAsia Pacific Plastic Waste Management market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Asia Pacific Plastic Waste Management Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Asia Pacific Plastic Waste Management market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Asia Pacific Plastic Waste Management market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Asia Pacific Plastic Waste Management market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Asia Pacific Plastic Waste Management market. The report also analyses if the Asia Pacific Plastic Waste Managementmarket is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Asia Pacific Plastic Waste Management market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Asia Pacific Plastic Waste Management market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Asia Pacific Plastic Waste Management market is aided by legal factors.

 

Asia Pacific Plastic Waste Management Market Scope:

Asia Pacific Plastic Waste Management Market
Market Size in 2023	USD 18.12 Bn.
Market Size in 2030	USD 23.85 Bn.
CAGR (2024-2030)	4%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Source Residential Commercial Industrial
	By Service Collection Recycling Incineration Landfills
	By End User Packaging Textile Consumer Product Transportation Building &Construction Electrical &Electronics Other
	By Polymer Low-density Polyethylene Polypropylene High-density Polyethylene Polyvinyl chloride Terephthalate Others
Country Scope	China India  Japan  South Korea Australia  ASEAN Rest of APAC

 

Asia Pacific Plastic Waste Management MARKET KEY PLAYERS: 

• Hitachi Zosen Corporation (Japan)
• Polimaster (Japan)
• Jiangsu Jiemi Bio Energy (China)
• Banyan Nation(India)
• Lucro (India)
• Recity (India)