Description
The Plastic Waste Management Market was valued at $32.9 Billion in 2018 and is forecast to grow at a modest 5.2 % CAGR between 2018 and 2025, culminating in 2026 global sales of $46.11 Billion.
Industry at a Glance.
Plastic recycling is the process of recovering scrap or waste plastic and reprocessing the material into useful products. Plastic waste management includes the collection, transportation, recycling, and disposal of plastic waste.
According to the recent United Nations Environment Programme (UNEP) report, the world produces 400 million tons of single-use plastic (SUP) waste annually (47 percent of the total plastic waste). It is estimated that only 9 percent of plastic is getting recycled worldwide.
Due to the fabrication of desired shape color and specification convenient to customers, there is increasing application in packaging, agriculture, automobiles, and biomedical. They are indispensable to the modern generation due to development in information technology, intelligent and smart packaging systems. Advanced technologies and agendas applied for the reprocessing, arranging, and an assortment of recyclable plastics are generating new prospects in the market for plastic waste management.
Rising population, attached to rapid industrialization as well as urbanization are resulting in a high amount of plastic waste. Rigorous government rules and regulations about plastic waste is a major factor expected to lift adoption for waste management services and drives growth of the global plastic waste management market over the forecast period.
Pricing Analysis
“Optimal Price Point (OPP) for Global Plastic Waste Management”
Estimated Average product/ service cost – $ xx globally. However, with improving access and availability of options, OPP, and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On average, in Global Plastic Waste Management are available at USD xxx- USD xxxx. However, high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of the latest products.
Global Plastic Waste Management Market by “Key Service Categories”
We have segmented the Global Plastic Waste Management-based on Service categories as Collection, Recycling, Incineration, and Landfills.
We have observed the rapid growth of Plastic Waste Management followed by the Recycling segment with the highest CAGR of 5.1% and is expected to propel the market growth over the forecast period. Plastic recycling is the process of recovering scrap or waste plastic and reprocessing the material into useful products. It is often recycled into outdoor furniture and other durable products such as plastic lumber, park benches, roadside curbs, truck cargo liners, trash receptacles, and new bottles.
We also noticed the Landfills segment anticipated to drive the market with a CAGR of 2.2% from 2018 to 2026. The landfill is the oldest and most common form of waste disposal used to dispose of all types of wastage.
Global Plastic Waste Management Market by “Polymers Categories”
We have segmented the Global Plastic Waste Management-based on Polymers categories as PP, PET, PVC, LDPE, HDPE, and PUR.
We have observed the rapid growth of Plastic Waste Management followed by the Low-density Polyethylene (LDPE) segment has the largest market share of 18.6% and is expected to propel the market growth over the forecast period. LDPE is widely used for manufacturing various containers, dispensing bottles, wash bottles, tubing, plastic parts for computer components, and various molded laboratory equipment. Its most common use is in plastic bags.
We also noticed the polymers Polypropylene (PP) segment anticipated to drive the market with a CAGR of 4.2% from 2018 to 2026.
Global Plastic Waste Management Market by “Source Categories”
We have segmented the Global Plastic Waste Management-based on Source Categories as Residential, Commercial, and Industrial.
We have observed the rapid growth of Plastic Waste Management followed by the Residential segment with a CAGR of 3.8% in 2018 and is estimated to grow during the prediction period. Rising a greater number of populations, rapid urbanization, and growing disposable income is the key factor to penetrate the plastic market demand.
We also noticed the Industrial segment anticipated to drive the market with a CAGR of 2.8% from 2018 to 2026. In the industry segment, the plastic is broadly used as a pipe, cables, wires, packaging foams agent.
Global Plastic Waste Management Market by “End-Use Categories”
We have segmented the Global Plastic Waste Management-based on End-Use categories as Packaging, Textile, Transportation, Building & Construction. Electrical & Electronics, and Others.
We have observed the rapid growth of Plastic Waste Management followed by the Packaging segment has the highest market share of 46.4% in 2018 and is expected to propel the market growth over the forecast period. This segment demanded in the market because of its transparency properties such as display information, shield, preserve, transport, and long term usage of the product.
We also noticed the Building & Construction segment anticipated to drive the market with a CAGR of 3.8% from 2018 to 2026. Due to the rapid growth of infrastructural developments in emerging economies.
Regional Segmentation
North America and Asia Pacific accounted for the maximum revenue share of over xx% in 2018 due to increased demand for Global Plastic Waste Management followed by EU- Top 5 countries contribute $X.9 Billion in 2018 and expected to reach $x.5 Billion by 2026.
The Asia Pacific is anticipated to dominate the market and expected to create a strong CAGR of 4.1% during the forecast period. Due to the rapid industrialization coupled with strict government regulation towards the awareness of plastic disposal management and process in emerging countries like China, India, and Japan.
The North American region led the market and accounted for the largest market share of 18.2% in the global market and expected to witness a noteworthy demand in the coming future. Owing to the inclination of companies in the region to take up capital concentrated ventures, accompanied by the accessibility of technical proficiency.
“Competitive Landscape” and “Merger & Acquisition Insights”
The key market participants are Veolia Environment, SUEZ, Waste Management Inc., Republic Services, Stericycle, Clean Harbors, Waste Connections, Inc., Covanta Holding Corporation, Remondis SE & Co. Kg, and Biffa. are few major players in Global Plastic Waste Management markets. The Global Plastic Waste Management market is fragmented with a large number of global & local players. Merger &Acquisitions, collaborations & new products launch are some of the major strategies adopted by key market players. Apart from this innovation & new product development are major focus areas for dominant companies.
Market Segmentation
Global Plastic Waste Management Market by Key Service Type (Revenue, Million, 2018 – 2026)
- Collection
- Recycling
- Incineration
- Landfills
Global Plastic Waste Management Market by Polymers categories (Revenue, Million, 2018 – 2026)
- Polypropylene (PP)
- Low-density polyethylene (LDPE)
- High-density polyethylene (HDPE)
- Polyvinyl chloride (PVC)
- Polyurethane (PUR)
- Terephthalate (PET)
Global Plastic Waste Management Market by Source categories (Revenue, Million, 2018 – 2026)
- Residential
- Commercial
- Industrial
Global Plastic Waste Management Market by End-Use Categories (Revenue, Million, 2018 – 2026)
- Packaging
- Textile
- Transportation
- Building & Construction
- Electrical & Electronics
- Others
Global Plastic Waste Management Market Regional Outlook (Revenue, USD Million, 2018-2026)
North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- Japan
- China
- India
- Australia
- Latin America
- Brazil
- Mexico
- Columbia
- Middle East and Africa
- South Africa
- Saudi Arabia
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