Ottawa, April 25, 2022 (GLOBE NEWSWIRE) -- The global plastic waste management market is growing due to extraordinary characteristics and wide applications. The plastic is very harmful for the environmental and ecological perspective. The plastic waste cannot be decomposed easily. This results into rise in global warming and also releases greenhouse gases.
The plastic waste management refers to methods and techniques for reprocessing plastic trash rather than dumping it in landfills or waterways or otherwise contaminating the environment. The reduced use of virgin plastic in product manufacturing is an important factor encouraging plastic waste management.
Get the Sample Pages of Report@ https://www.precedenceresearch.com/sample/1645
Over the projected period, the plastic waste management market is expected to be driven by rapid industrialization, expanding urbanization, and growing concern about the environmental impact of incorrect plastic waste management. The major market players in the plastic waste management market are utilizing advanced technologies for the management of plastic waste. The government guidelines for cleanliness and hygiene are also paving way for the growth of the global plastic waste management market. For instance, Indian government introduced the cleanliness program called as ‘Swachh Bharat Abhiyan’. Under this program, it has been observed that the plastic litter and garbage has been reduced over the decade.
Furthermore, the strict guidelines imposed by government against oil and gas industries, is boosting the growth of the global plastic waste management market. These strict guidelines help to reduce plastic waste from factories. This is also leading in decline of global warming all around the globe.
Scope of the Plastic Waste Management Market
| Report Attributes | Details |
| Market Size in 2021 | USD 36.96 Billion |
| CAGR | 5.4% from 2022 to 2030 |
| Largest Market | Asia Pacific |
| Fastest Growing Region | North America |
| Base Year | 2021 |
| Forecast Data | 2022 to 2030 |
| Companies Covered | Veolia Environment, Remondis SE, Waste Connections Inc., Covanta Holding Corporation, Stericycle, SUEZ, Waste Management Inc., Clean Harbors, Waste Connections Inc., Biffa |
Ask here for more customization study@ https://www.precedenceresearch.com/customization/1645
Report Highlights:
- Based on the polymer type, the polypropylenesegment dominated the global plastic waste management market in 2020 with largest market share. The polypropylene is widely used in a variety of end use industries including packaging, construction, and electronics due to its high-performance features.
- On the basis of end use, the packagingsegment holds the largest market share the global plastic waste management market in 2020. The segment is expected to increase at the quickest rate during the forecast period, owing to the rising use of plastic in the creation of packaging products.
- Asia-Pacific is the largest segment for plastic waste management market in terms of region. The necessity for this form of waste management for plastics in Asia-Pacific is being driven by rising per capita plastic trash creation as well as growing urbanization and industrialization.
- North America region is the fastest growing region in the plastic waste management market. The North American market’s primary growth element is the large presence of solid waste management firms and their distribution network.
Future of Plastic waste management Market
The enduser demand for a higher percentage of reused plastic in containers is expected to aid the growth of the plastic waste management market over the forecast period. The usage of reused content in bundling reduces the bundle's natural appearance while increasing reusability. With a growing preference for reused plastic, interest in reused plastic is expected to grow, propelling the global plastic waste management industry. As part of their new cost-cutting strategy, some food and beverage companies are focusing on increasing the amount of reused plastic in their containers. One of the important patterns noticed in the global plastic waste management industry is the use of plastic garbage for street improvement.
COVID-19 Impact Analysis:
- The outbreak of COVID-19 had a substantial impact on global plastic waste management market growth.
- Due to supply chain interruption, the year-on-year growth rate is expected to be lower this year than in previous years.
- As a result, the plastic waste management market is likely to develop at a slower rate this year.
Browse more related reports@ https://www.precedenceresearch.com/industry/chemical-and-material
Key Developments in the Marketplace:
- In July 2019, SUEZ opened a packaging sorting plant in Germany, Europe. It is Europe's most advanced package sorting plant. Germany's waste management systems are expected to improve as a result of this development.
- In May 2019, LC Packaging and Veolia Netherlands struck a strategic partnership to minimize flexible packaging waste globally.
- In June 2021, Biffa PLC bought Green Circle Polymers' only post-consumer plastic recycling operation in Scotland. The strategic purchase was undertaken in order to help the corporation accomplish its 2030 goal of boosting plastic recycling capacity.
- In May 2021, UPS Healthcare and Stericycle established a partnership to offer medical waste sorting and disposal services. Both companies think that by working together, they will be able to protect people's health while simultaneously contributing to the circular economy of plastic.
Market Segmentation
By Service
- Collection
- Recycling
- Incineration
- Landfills
By Polymer
- Polypropylene
- Low density polyethylene
- High density polyethylene
- Polyvinyl chloride
- Terephthalate
- Others
By Source
- Residential
- Commercial
- Industrial
By End Use
- Packaging
- Textile
- Consumer product
- Transportation
- Building & construction
- Electrical & electronics
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
Click Here to View Full Report Table of Contents
Buy this Premium Research Report@ https://www.precedenceresearch.com/checkout/1645
You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 9197 992 333
About Us
Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.
For Latest Update Follow Us:
https://www.linkedin.com/company/precedence-research/
https://www.facebook.com/precedenceresearch/
https://twitter.com/Precedence_R
