New York
City, 28 January 2019: The global Plastic Waste Management Market size is anticipated to reach USD 35.10
billion by 2026. In 2017, the recycling segment accounted for the highest share
in the market in terms of revenue. Asia-Pacific is expected to be the leading
contributor to the global market revenue in 2017.
The significant initiatives taken by
the public and private sector for environmental protection coupled with
initiatives aimed at use of recyclable packaging solutions majorly drive the
market growth. The increasing population, industrialization, and urbanization
further support the markey growth. Increasing demand for sustainable packaging
solutions, increasing trend towards recycled plastic, and growing use of
recyclable plastic packaging in various sectors boosts the market growth.
Increasing environmental concerns, growing pollution levels across the world,
and rising need to recycle plastic waste accelerates the growth of the plastic
waste management market. Stringent regulations enforced by governments
worldwide, and growing initiatives to promote sustainable waste management
practices are expected to provide growth opportunities in the during the
forecast period.
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There are numerous ways in which
plastic wastes can be managed like landfilling, incineration and recycling.
Among these, recycling plastic is the only environmentally sustainable method
of plastic management. One particular way in which plastic waste can be reused
is by reprocessing the waste into construction material. Research indicates that
the resins included in the composition of plastic turn into excellent
reinforcement and can be used as a high performing composite material. This
material, named as Polyester Concrete, is also low-cost owing to the cheap
source. With proper implementation of this process, the plastic waste can be
successfully managed.
Competitive Landscape and Key Vendors:
Asia-Pacific generated
the highest market share in terms of revenue in the global plastic waste
management industry in 2017, and is expected to lead the market throughout the
forecast period. The growing population, rising disposable incomes, and a
transition from traditional markets to the purchasing of packaged consumerist
goods has accelerated the market growth in the region. The rising environmental
concerns, and stringent government regulations regarding use of plastic is
generating numerous opportunities for the plastic waste management industry in
the region.
The well-known companies profiled in
the plastic waste management report include Progressive Waste Solutions Ltd.,
Covanta Holding Corporation, Wastecare Ltd., Reprocesses Plastic, Inc., Waste
Management Inc., Suez Environnement Company, ADS Waste Holdings, Inc., United
Plastic Recycling, TM Recycling GmbH., and Hahn Plastics Limited. These
companies launch new products and collaborate with other market leaders to
innovate and launch new products to meet the increasing needs and requirements
of consumers.
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