The global Plastic Waste Management market size is expected to be worth around US$ 42.1 billion by 2027, according to a new report by Vision Research Reports.
The global Plastic Waste Management market size was valued at US$ 33.0 billion in 2019 and is anticipated to grow at a CAGR of 3.0% during forecast period 2020 to 2027.
Growth Factors
Rapid industrialization, rising urbanization, and increasing concern towards the environmental impact of improper plastic waste management are anticipated to drive the market over the forecast period.
The plastic market is growing significantly owing to its unique properties and a wide range of applications. Increasing usage of plastic is also generating plastic waste, which is non-degradable and is responsible for significant greenhouse gas emissions that can lead to huge ecological crises. Therefore, the growing need for proper disposal management of plastic waste is anticipated to drive the market over the forecast period.
The U.S is one of the largest plastic waste generating countries. The recycling rate of plastic in the country is very less as compared to the overall plastic waste generation in the country.
Plastic waste management refers to approaches and methodologies used to reprocess plastic material instead of dumping it into landfills, or waterways, or otherwise left in open to contaminate the environment. The major factor promoting plastic waste management is reduced use of virgin plastic to manufacture products.
Advanced technologies and frameworks utilized for the reprocessing, arranging, and assortment of recyclable plastics are creating new opportunities in the market for plastic waste management.
The cost at which recycled plastic can be created is generally stable, while the cost of virgin plastic fluctuates based on the performance of the oil and gas industry and the demand for crude oil-based products across the end-use industries. This fluctuation in prices promotes the incentive to make long-term investments in recycling technology and infrastructure.
Report Highlights
Based on service, the market for plastic waste management is segmented into, collection, recycling, incineration, and landfills. The recycling segment is anticipated to register the fastest growth of rate 4.8% over the forecast period owing to stringent government policies and a significant rise in infrastructure for recycling the plastic.
The collection is the most important as well as complicated service. The players in the market for plastic waste management provide residential, commercial, and industrial plastic waste collection services.
Incineration is the process of controlled combustion at extremely high temperatures of plastic waste which aids in and in generating energy. The process is highly exothermic with the objective of safe waste management. It processes non-recyclable waste from industrial, commercial, and municipal sources.
The landfill segment is anticipated to contribute the largest share in the market for plastic waste management owing to the presence of a lesser number of incineration and recycling plants. The landfill is the primary treatment method used for waste disposal management globally.
Based on polymers, Polypropylene (PP) is anticipated to grow with the fastest CAGR of 3.6% over the forecast period owing to its outstanding properties including high chemical resistance, fatigue resistance, and weldability.
Low-density Polyethylene (LDPE) was accounted for 17.7% of the overall market share in 2019 owing to its recycling ability. LDPE is extensively used to produce flexible and thin products including bags, container lids, toys, shrink-wrap and stretch film, and squeezable bottles.
High-density polyethylene (HDPE) is one of the highly used polymer owing to its unique properties including good low-temperature toughness, good chemical resistance, high flexibility, and high impact resistance. The recycled HDPE is used to produce a wide range of products including trash cans, furniture, toys, recycling bins, pipes, and ropes.
Polyvinyl chloride (PVC) also contributes to significant revenue share in the market for plastic waste management from end-use industries including building and construction, electrical and electronics, and automotive. PVC is very strong and has a high resistance to abrasion and moisture, which makes it highly suitable for a wide range of applications including pipes, cables and wires, toys, windows, raincoats, shower curtains, and many households as well as technical products.
Based on the source, the plastic waste management market is segmented into residential, commercial, and industrial. The residential segment projected to dominate the market and anticipated to witness a significant growth of 3.4% over the forecast period on account of the increasing population and rapid urbanization.
Plastics are the vital element in day-to-day life and are extensively used in household applications. Changing lifestyle, increasing population, growing disposable income resulted in increased usage of plastics in the residential sector generating a huge amount of waste which are needed to be dealt with.
The commercial is the second-largest source of plastic waste generation. Growing commercial spaces such as malls, educational institutes, hospitals, office buildings, retail stores, hotels, and restaurants across the globe are anticipated to drive demand for plastic thereby generating a high amount of waste.
The industrial segment anticipated to expand at a CAGR of over 2.1% over the forecast period on account of rapid industrialization in the developing economies including India, China, Brazil, and Argentina.
The packaging end-use segment is anticipated to be the largest and fastest-growing segment over the forecast period. The segment accounted for 44.5% of the overall market share in 2019 owing to the increasing demand for plastics for the packaging of products to protect, preserve, transport, and display information.
The segment is anticipated to witness significant growth owing to the increasing usage of plastics in textile mills for templates, work surfaces, looms, tenter frames, and miscellaneous components.
The consumer product segment accounted for substantial market share in 2019 and is anticipated to witness a CAGR of 3.1% over the forecast period owing to the predominant usage of plastic in consumer products across the globe.
The building and construction is one of the fastest-growing segment registering a CAGR of 3.3% over the forecast period owing to the rapid growth of infrastructural developments in developing economies.
Asia Pacific is expected to dominate the market and anticipated to witness a robust CAGR of 3.4% over the forecast period on account of rapid industrialization along with the imposition of stringent laws pertaining to plastic waste management, and disposal processes. The growth in disposable income and increasing importance of waste management in China, Japan, and India, are driving the market in the region.
North America accounted for 15.4% of overall market share in 2019 and projected to register significant growth on account of increasing awareness to curb carbon footprint resulting from increasing plastic waste. The U.S. is one of the major contributors in the region as the country exports most of its waste to other countries for recycling or disposal.
Europe is anticipated to be the second largest market for plastic waste management and is anticipated to witness a CAGR of 2.9% over the forecast period on account of numerous initiatives and stringent regulations imposed by governments on plastic waste disposal management.
Central and South America and Middle East and Africa do not contribute to significant market share compared to other regions owing to inadequate infrastructure, improper planning, and lack of proper training and awareness.
Key Players
Veolia Environnement S.A., Waste Management, Inc., Suez Environnement Company, Republic Services, Inc., and Clean Harbors, Inc. have goodwill in the market, which delivers them a competitive edge over other plastic waste management service providing companies. Nonetheless, with improving government facilities and recycling machinery, the municipality is expected to be a tough competitor for the aforementioned companies.
Market Segmentation
Service Outlook
Collection
Recycling
Incineration
Landfills
Polymer Outlook
Polypropylene (PP)
Low-density Polyethylene (LDPE)
High-density Polyethylene (HDPE)
Polyvinyl Chloride (PVC)
Polyurethane (PUR)
Terephthalate (PET)
Others
Source Outlook
Residential
Commercial
Industrial
End-use Outlook
Packaging
Textile
Consumer Product
Transportation
Building & Construction
Electrical & Electronics
Others
Regional Outlook
North America
The U.S.
Canada
Mexico
Europe
Germany
France
Italy
Spain
The U.K.
Asia Pacific
China
Japan
India
Central & South America
Brazil
Argentina
Middle East & Africa
Saudi Arabia
UAE
The Plastic Waste Management market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Plastic Waste Management market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Plastic Waste Management market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Plastic Waste Management market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Plastic Waste Management market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Plastic Waste Management capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Plastic Waste Management by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Plastic Waste Management market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Plastic Waste Management market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Plastic Waste Management market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Plastic Waste Management industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Plastic Waste Management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Plastic Waste Management market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Plastic Waste Management market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Plastic Waste Management market. These factors have benefited the growth of the global market for Plastic Waste Management. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Plastic Waste Management. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Plastic Waste Management are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers