North America Plastic Waste Management Market: Industry Analysis and Forecast (2024-2030)

North America Plastic Waste Management Market Definition:

The recycling process contributes 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 eco-friendly. The trend of recycling waste materials and recovering waste plastics is increasing, owing to the lots of benefits associated with it, including a reduction in the amount of waste transported to landfills and incinerators, preservation of natural resources, and prevention of pollution.

 

Further, the North America Plastic Waste Management market is segmented by polymer, service, source, end-user and geography. On the basis of polymer, the North America Plastic Waste Management market is segmented under Polypropylene, Low-density polyethylene,, Polyvinyl chloride, and Terephthalate. Based on the Service, the market is segmented under   Collection, Recycling, Incineration and Landfills. Based on source the market is segmented under Residential, commercial, landfills. Based on End-user, the market is segmented under packaging, textile, transportation, Consumer product, Building and construction and electrical and electronics. By geography, the market covers the major countries in North America i.e., US, Canada and Mexico. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

 

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North America Plastic Waste Management Market COVID 19 Insights:

 

The pandemic of COVID-19 has also brought attention to the importance of plastics in our daily life. Plastics are especially well-suited for personal protective equipment (PPE) such as surgical face masks, single-use medical tools, and packaging due to their properties. Plastics are light, can resist external shocks, contaminants, and moisture, are flexible, and available in a multitude of opacities. Polyvinyl chloride (PVC), for example, provides the required durability for surgical gloves.

 

North America Plastic Waste Management Market Dynamics:

Market Drivers

 

North America accounted for the market's second-largest revenue share. In terms of collecting and treatment, the region has a well-established market. The North American market's primary growth element is the large presence of solid waste management firms and their distribution network. The United States held the largest proportion of the region in 2021, and the region is expected to grow at a rate of 4.4 % during the forecast period. The United States is one of the country's major manufacturers of plastic waste. Despite greater collection rates, the United States' plastic recycling rate is just around 10-12 %.

 

Market Opportunity

 

The United States is one of the world's largest producers of plastic waste. In comparison to the country's overall plastic waste generation, the country's plastic recycling rate is quite low. The majority of plastic waste produced in the United States is exported to countries such as China, Hong Kong, Ecuador, Colombia, Indonesia, Vietnam, and Thailand, where it is recycled, processed for energy, or disposed of in landfills.

 

Plastic waste management relates to techniques and methods for reprocessing plastic waste instead of dumping it in landfills or waterways or otherwise contaminating the environment. Reduced use of virgin plastic in product manufacturing is an important factor in encouraging plastic waste management.

 

Market Challenges

 

During the forecast period, the plastic waste management market will face significant challenges due to a lack of treatment plants and awareness. Many suppliers and production units routinely dump their plastic waste into bodies of water or on land because plastic waste management and waste management infrastructure are incompletely understood. For controlling plastic waste, there are relatively few effective rules and methods. One of the most important barriers to the growth of the plastic waste management market is this.

 

North America Plastic Waste Management Market Segment Analysis:

By Service,

 

The market for plastic waste management is divided into four main categories based on service: collection, recycling, incineration, and landfills. Due to the strict government rules and a large increase in infrastructure for recycling plastic, the recycling category is expected to develop at the quickest rate of 5.9% over the forecast period. Cloths, carpets, garbage bags, films, containers, and bottles are just a few of the products made from recycled plastic.

 

The most important, as well as the most complicated, service is collection. Residential, commercial, and industrial plastic waste collection services are provided by players in the plastic waste management market. These services are provided on one- to five-year contracts or on a subscription basis, in which the customer contacts the service providers directly. Prior to processing, waste must be separated in order to be recycled or processed to generate energy.

 

 

By End User,

 

Over the forecast period, the packaging end-use segment is expected to be the largest and fastest-growing segment. Due to the rising demand for plastics for product packaging to protect, preserve, transport, and display information, the category accounted for 20.9 % of the overall market share in 2023.

 

Because of the rising use of plastics in textile mills for templates, work surfaces, looms, tenter frames and other miscellaneous components, the textile segment is expected to increase significantly. Plastic bottle waste is also used to make polyester yarn, which is then used to make green textiles.

 

By Polymer,

 

Due to its outstanding qualities such as high chemical resistance, fatigue resistance, and weldability, Polypropylene (PP) is expected to grow at the quickest CAGR of 4.7 % throughout the forecast period. Polypropylene is readily available, cheap, and adaptable to a variety of production techniques, making it perfect for both households and industrial uses.

 

Because of its recycling capacity, low-density polyethylene (LDPE) contributed for 19.8% of the overall market share in 2023. Bags, container lids, toys, shrink-wrap and stretch film, and squeezable bottles are all examples of flexible and thin products made from LDPE. Floor tiling, garbage can liners, furniture, paneling, compost bins, and trashcans are all made from recycled LDPE.

 

By Service,

 

The plastic waste management market is divided into three categories, according to the source: residential, commercial, and industrial. Due to the rising population and rapid urbanization, the residential segment is expected to dominate the market and increase at a considerable rate of 3.5 % over the forecast period.

 

Plastics are an important part of everyday life and are widely employed in household applications. Changing lifestyles, rising population, and rising disposable income have led to a growth in the use of plastics in the residential sector, resulting in a large volume of waste that must be dealt with.

 

The commercial sector is the second-largest source of plastic waste. Growing commercial areas around the region, such as malls, educational institutes, hospitals, office buildings, retail stores, hotels, and restaurants, are expected to stimulate demand for plastic, leading to a huge amount of waste.

 

North America 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 europemarket, 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 North America Plastic Waste Management market to the stakeholders in the industry. The report provides trends that are most dominant in the North America 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 North America 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 North America 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 North America 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 North America 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 North America Plastic Waste Management market. The report also analyses if the North America Plastic Waste Management market 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 North America Plastic Waste Management market. Economic variables aid in the analysis of economic performance drivers that have an impact on the North America Plastic Waste Management market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the North America Plastic Waste Management market is aided by legal factors.

 

North America Plastic Waste Management Market Scope:

 

North America Plastic Waste Management Market
Market Size in 2023	USD 11.23 Bn.
Market Size in 2030	USD 14.78 Bn.
CAGR (2024-2030)	4%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Polymer Polypropylene Low-Density Polyethylene High-Density Polyethylene Polyvinyl Chloride Terephthalate Others
	By Source Residential Industrial Commercial
	By Service Collection Recycling Incineration Landfil
Country Scope	United States Canada Mexico

 

North America Plastic Waste Management MARKET KEY PLAYERS:  

• Waste Management (U.S)
• Waste Connection (US)
• GFL Environmental (Canada)
• Clean Harbors (US)
• Casella Waste System (US)
• Republic Services(US)