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

  • Plastic Waste Management Market was valued at USD 39.93 Billion in 2023. Global Plastic Waste Management Market size is estimated to grow at a CAGR of 4.5% over the forecast period.

  • Format : PDF | Report ID : SMR_887

Plastic Waste Management Market Definition:

Plastic waste management is the method of recycling plastic waste rather than dumping it in landfills or polluting the environment in other ways. The use of virgin plastic in product manufacturing is being reduced, which helps with plastic waste management. The increased integration of new and creative technologies in recycling plants and waste management systems, such as big data & machine learning,(ML) has driven the growth of the plastic waste management market. Further, the Plastic Waste Management market is segmented by Source, Material, Product Type, Treatment method, and geography. On the basis of product type, the Plastic Waste Management market is segmented under Packaging, construction, Automotive and Electrical & electronics, other. Based on the Source, the Plastic Waste Management market is segmented under Industrial Waste and Municipal waste. Based on the Material, the Plastic Waste Management market is segmented under Polypropylene, Polyethylene terephthalate, polystyrene, and Polyethylene, among others. Based on the treatment method, the Plastic Waste Management market is segmented under Collection, recycling, and Disposal. By geography, the market covers the following Regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD Billion).

 

Plastic Waste Management Market

 

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Plastic Waste Management Market Dynamics:

 Covid-19 Impact:

 

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.

 

Market Drivers:

 

The growth of numerous efforts by the government and industry is expected to create a path for the growing market. A lot of food and beverage companies are focusing on boosting the quantity of recycled plastic in their bottles as part of their new sustainable strategy. Coca-Cola, for example, announced in July 2021 that the proportion of recycled plastic in its bottles will be tripled. Currently, recycled plastic makes up 30% of all bottles. This will have doubled to 60% by the end of 2022. As a result, throughout the forecasted period, these factors will boost the market growth.

 

Furthermore, the rapid growth of the plastic waste management market will be helped by the surge in urbanization and industrialization. Growing awareness of the environmental problems created by plastics has resulted in a significant increase in demand for plastic waste management in the region. Furthermore, the rising population, the emergence of recycling and reuse, and rising income levels will all help market value growth.

 

Market Opportunity:

 

Furthermore, in the forecast period of 2024 to 2030, the development of commercial and public sector partnerships in waste management would provide profitable opportunities to market players. Furthermore, the government's strict rules regarding plastic disposal and management, as well as the recycling of harmful materials, will boost the plastic waste management market's future growth.

 

Market Restraints:

 

Improper garbage disposal poses a significant threat to municipalities and other waste management stakeholders. Those who live near contaminated areas or landfills may suffer serious health consequences as a result of improper garbage disposal. Inadequately managed plastic wastes can cause skin irritations, blood infections, respiratory problems, growth disorders, and even reproductive complications. Unscientific treatment, improper garbage collection, and ethical issues such as dumping e-waste are all major concerns in the management of plastic waste. As a result, environmental degradation, water pollution, soil pollution, and air pollution become issues, limiting the growth of the waste management market.

 

Plastic Waste Management Market Segment Analysis:

By Source:

 

The market is divided into two categories based on the source: industrial waste and municipal waste. The largest and fastest-growing area of the market is industrial waste. The largest source of plastic waste is considered to be the industry. The rapid industrialization of developing economies is largely responsible for this segment's growth. Manufacturing industries are required by severe environmental regulations to properly dispose of plastic waste. Furthermore, plastic recycling is essential to achieving economically and environmentally sustainable goals. Plastic waste generated mostly by households and commercial properties is included in municipal plastic waste. The segregation of plastic waste from other municipal solid waste is critical to the segment's growth. However, over the forecast period, rising population and fast urbanization will provide attractive chances for this segment's growth.  municipal plastic waste accounted for 12% of total plastic waste generation in terms of volume.

 

Plastic Waste Management Market

 

By Product Type:

 

This market is divided into packaging, construction, automotive, electrical & electronics, and others based on product type. In 2023, the packaging had the highest revenue share of all of these. The segment is expected to develop at the fastest rate, with a CAGR of 4.4 %over the forecast period, due to the increased adoption of plastic for the production of packaging products. Most packaging producers are shifting their preferences toward sustainable plastic packaging solutions to avoid increasing plastic pollution. During the forecast period, this is expected to increase demand for plastic waste recycling processes

 

By Material:

 

The market is divided into polyethylene, polypropylene, polyethylene terephthalate, polystyrene, and others based on material. Polyethylene is the most commonly produced and consumed polymer in the country. In terms of usage, HDPE, LDPE, and LLDPE combined accounted for almost 38% of the total, followed by polypropylene. Polyethylene is widely used in a variety of end-use industries, including packaging, construction, and electronics, among others, due to its high-performance features. As a result, the segment's dominance in this market share is forecast to be driven by increased demand for polyethylene from various end-use sectors. In addition, the segment is expected to increase at a faster rate throughout the forecast period.

 

By Treatment Method:

 

The market is divided into three categories based on the treatment method: collection, recycling, and disposal. In 2023, the collection segment accounted for the greatest revenue share in the market. Plastic waste collection is a time-consuming process with a high operating cost. The effective utilization of resources and the selection of optimum techniques are critical in the collecting of plastic waste. The disposal segment had the second-largest market share. Landfilling and incineration are the two subcategories of this segment. Landfilling had the biggest market share among these in 2023. Landfilling is a widely used way of managing plastic waste in many nations, except Europe. Plastic waste that has been properly landfilled has the potential to be used in recreational activities.

 

Plastic Waste Management Market Regional Insights:

Due to increasing industrialization and the application of severe laws related to plastic waste management and disposal processes, Asia Pacific is likely to lead the market and grow at a robust CAGR of 4.4 % over the forecast period. The market in the region is being driven by rising disposable income and the increasing importance of waste management in China, Japan, and India. North America, on the other hand, is expected to grow rapidly over the forecast period of 2024-2030, equipped with a variety of government programs and stringent carbon emission regulations in the region.

 

Plastic Waste Management Market Key Players Insights:

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

 

Plastic Waste Management Market Scope:

Plastic Waste Management Market Scope

Market Size in 2023

USD 39.93 Bn.

Market Size in 2030

USD 54.35 Bn.

CAGR (2024-2030)

4.5%

Historic Data

2018-2022

Base Year

2023

Forecast Period

2024-2030

Segment Scope

by Source

  • Industrial Waste
  • Municipal Waste

by Material

  • Polyethylene
  • Polypropylene
  • Polyethylene Terephthalate
  • Polystyrene
  • Other

by Source Type

  • Packaging
  • Construction
  • Automotive
  • Electrical &Electronics
  • Others

by Treatment Type

  • Collection
  • Recycling
  • Disposal

Regional Scope

North America- United States, Canada, and Mexico

Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe

Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC

Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa

South America – Brazil, Argentina, Rest of South America

 

Plastic Waste Management Market Key Players: 

  • Veolia (France)
  • SUEZ (France)
  • WM Intellectual Property Holdings( U.S)
  • LUXUS (UK)
  • Reprocessed Plastic (US)
  • Republic Services (US)
  • Waste Connections (Canada)
  • Clean Harbors (US)
  • Biffa (UK)
  • Covanta Holding Corporation (US)
  • Waste Care (UK)
  • Others

 

Regional Breakdown:

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

 

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


Frequently Asked Questions

The segments covered in the Plastic Waste Management Market report are based on Product type, Source, and material, treatment method.

  1. Scope of the Report
  2. Research Methodology
    • Research Process
    • Global Plastic Waste Management Market: Target Audience
    • Global Plastic Waste Management Market: Primary Research (As per Client Requirement)
    • Global Plastic Waste Management Market: Secondary Research
  3. Executive Summary
  4. Competitive Landscape
    • Market Share Analysis by Region in 2023(%)
      • North America
      • Europe
      • Asia Pacific
      • Middle East and Africa
      • South America
    • Stellar Competition matrix
      • Global Stellar Competition Matrix
      • North America Stellar Competition Matrix
      • Europe Stellar Competition Matrix
      • Asia Pacific Stellar Competition Matrix
      • South America Stellar Competition Matrix
      • Middle East and Africa Stellar Competition Matrix
    • Key Players Benchmarking: - by Source, Pricing, Investments, Expansion Plans, Physical Presence, and Presence in the Market.
    • Mergers and Acquisitions in Industry: - M&A by Region, Value, and Strategic Intent
    • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
    • Market Challenges
    • PESTLE Analysis
    • PORTERS Five Force Analysis
    • Value Chain Analysis
  5. Global Plastic Waste Management Market Segmentation
    • Global Plastic Waste Management Market, by Region (2023-2030)
      • North America
      • Europe
      • Asia-Pacific
      • Middle East & Africa
      • South America
    • Global Plastic Waste Management Market, by Source (2023-2030)
      • Industrial Waste
      • Municipal Waste
    • Global Plastic Waste Management Market, by Material (2023-2030)
      • Polyethylene
      • Polypropylene
      • Polyethylene Terephthalate
      • Polystyrene
      • Others
    • Global Plastic Waste Management Market, by Source Type (2023-2030)
      • Packaging
      • Construction
      • Automotive
      • Electrical & Electronics
      • Others
    • Global Plastic Waste Management Market ,by Treatment Method(2023-2030)
      • Collection
      • Recycling
      • Disposal
  6. North America Plastic Waste Management Market Segmentation
    • North America Plastic Waste Management Market, by Source (2023-2030)
      • Industrial Waste
      • Municipal Waste
    • North America Plastic Waste Management Market, by Material (2023-2030)
      • Polyethylene
      • Polypropylene
      • Polypropylene Terephthalate
      • Polystyrene
      • Other
    • North America Plastic Waste Management Market, by Product type (2023-2030)
      • Packaging
      • Construction
      • Automotive
      • Electrical & Electronics
      • Others
    • North America  Plastic Waste Management Market ,by Treatment Method(2023-2030)
      • Collection
      • Recycling
      • Disposal
    • North America Toys Market, by Country (2023-2030)
      • United States
      • Canada
      • Mexico
  7. Europe Plastic Waste Management Market Segmentation
    • Europe Plastic Waste Management Market, by Source (2023-2030)
    • Europe Plastic Waste Management Market, by Material (2023-2030)
    • Europe Plastic Waste Management Market, by Product type (2023-2030)
    • Europe Plastic Waste Management Market ,by Treatment Method(2023-2030)
    • Europe Plastic Waste Management Market, by Country (2023-2030)
  8. Asia Pacific Plastic Waste Management Market Segmentation
    • Asia Pacific Plastic Waste Management Market, by Source (2023-2030)
    • Asia Pacific Plastic Waste Management Market, by Material (2023-2030)
    • Asia Pacific Plastic Waste Management Market, by Product type (2023-2030)
    • Asia Pacific  Plastic Waste Management Market ,by Treatment Method(2023-2030)
    • Asia Pacific Plastic Waste Management Market, by Country (2023-2030)
  9. Middle East and Africa Plastic Waste Management Market Segmentation
    • Middle East and Africa Plastic Waste Management Market, by Source (2023-2030)
    • Middle East and Africa Plastic Waste Management Market, by Material (2023-2030)
    • Middle East and Africa Plastic Waste Management Market, by Product type (2023-2030)
    • Middle East and Africa Plastic Waste Management Market ,by Treatment Method(2023-2030)
    • Middle East and Africa Plastic Waste Management Market, by Country (2023-2030)
  10. South America Plastic Waste Management Market Segmentation
    • South America Plastic Waste Management Market, by Source (2023-2030)
    • South America Plastic Waste Management Market, by Material (2023-2030)
    • South America Plastic Waste Management Market, by Product type (2023-2030)
    • South America Plastic Waste Management Market ,by Treatment Method(2023-2030
    • South America Plastic Waste Management Market, by Country (2023-2030)
  11. Company Profiles
    • Key Players
      • Vanden Global (China)
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Business Strategy
        • Key Developments
      • REPLAS (Australia)
      • CUSTOM POLYMERS(US)
      • Waste Care (UK)
      • Veolia(France)
      • SUEZ (France)
      • WM Intellectual Property(US)
      • LUXUS (UK)
      • Biffa (UK)
      • Others
  12. Key Findings
  13. Recommendations

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