Global Plastic Waste Management Market to witness a growing demand...

Global Plastic Waste Management Market to witness a growing demand from Manufacturing Sector

Posted 2024-04-01 07:55:00

Market Research Future (MRFR) has published a cooked research report on the “plastic waste management Market” that contains information from 2022 to 2030. The plastic waste management Market is estimated to register a CAGR of 4.50% during the forecast period of 2022 to 2030 and projected to grow at USD 43443.04 million by 2030.

MRFR recognizes the following companies as the key players in the Market — Waste Management Inc. (U.S.), Stericycle Inc. (U.S.), SUEZ Environnement Company (France), Waste Holdings, Inc. (U.S.), Remondis SE & Co. KG (Germany), Hawkvale Limited (UK), Hahn Plastics Limited (UK), Republic Services Inc. (U.S.), ADS Veolia Environnement S.A. (France), Covanta Holding Corporation (U.S.).

Plastic Waste Management Market Overview

The global plastic waste management market 2022, according to MRFR, is poised to grow at a CAGR of 4.50% during the forecast period and projected to reach at USD 43443.04 million by 2030.

A huge amount of plastic waste is produced throughout the world, of which household and industry waste such as automobile, packaging, electronics, construction and agriculture contribute the most. Advanced technologies and processes used to reprocess, sort, and collect recyclable plastics are generating new opportunities in line with public health, manufacturing, environmental, and preservation values. Aspects such as increasing urbanization, industrialization and rising awareness of the environmental hazards are driving the growth of the global market for plastic waste management. Most laws and regulations enforced by the governments serve as a significant driver of business development. Additionally, the market is driven by government initiatives to recycle plastic materials and growing concern about plastic waste disposal. Plastic is relatively cheap and durable, and recycled plastic is used to manufacture a wide variety of items such as carpets, garbage bags, clothes, films, bottles and containers. This plastic recycling cycle is enhanced to propel the demand for plastic waste management over the review period.

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Market Segmentation

Global market for the management of plastic waste is segmented by the service & equipment, product, source and end-user sector and area.

· The market is segmented based on the service & equipment into collection, recycling, incineration and disposal. Recycling is expected to dominate the market for handling plastic waste during the study period.

· The market is further segmented on the basis of polymer in low-density polyethylene (LDPE), polyvinyl chloride ( PVC), high-density polyethylene (HDPE), polypropylene ( PP), and others.

· The market is segmented, depending on the source, into commercial , residential, and industrial.

· The market is segmented into packaging, construction & construction, textiles & clothing, automobiles, and others, based on the end-use sector.

· Regional Outlook

· The global market for plastic waste management is largely segmented into four main areas, such as Europe , North America , Asia Pacific and the rest of the world.

Plastic Waste Management Industry Developments

July 2021:

In a collaborative effort to address the challenge of managing medical waste, UPS Healthcare and Stericycle formed a strategic alliance. This partnership aimed to handle the reverse logistics of various types of medical waste, including sharps, biohazardous, and pharmaceutical wastes. Under the agreement, UPS Healthcare and Stericycle would work together to treat, transport, and dispose of these specialized waste streams, ensuring safe and environmentally responsible management of medical waste.

June 2020:

Biffa plc, the leading sustainable waste management company in the UK, made a significant acquisition by purchasing Green Circle Polymers Ltd. (GCP) based in Grangemouth. The acquisition was valued at £10 million and included GCP, which stood as Scotland's sole post-consumer plastics recycling facility (PRF). By acquiring GCP, Biffa plc strengthened its presence in the recycling sector, enhancing its capability to process and manage post-consumer plastics waste. This move demonstrated Biffa's commitment to sustainable waste management and furthered their efforts to promote recycling and circular economy practices in the region.

Key Players

Some of the major players in the global plastic waste management market are

· Waste Management Inc. (U.S.)

· Stericycle Inc. (U.S.)

· SUEZ Environnement Company (France)

· Waste Holdings, Inc. (U.S.)

· Remondis SE & Co. KG (Germany)

· Hawkvale Limited (UK)

· Hahn Plastics Limited (UK)

· Republic Services Inc. (U.S.)

· ADS Veolia Environnement S.A. (France)

· Covanta Holding Corporation (U.S.)