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Market Research Report

Global Plastic Waste Management Market Size: Industry Trends, Share, Demand & Growth Analysis, Regional Outlook, And Forecast 2016-2024

Published On : 2018-03-21 Report Page : 310 Category: Energy Resources

Global Plastic Waste Management Market Outlook

Market Overview

The production of plastics and its consumption in various modes has increased the plastic waste. Globally annual plastic production was 330 million tons in 2016 to meet the increasing demand of the plastic in various forms. Of the total produced plastic around 90% plastic is not recycled and only 15% is incinerated. Developing economies are the major consumers of the plastics, where the rapid urbanization and low burden of environment protection has been the major reasons. The unsystematic pattern of waste collection from the various sources has led to increased dumping of the solid waste. As plastics do not degrade, the major visible solid waste is the plastics. The packaging industries are the major contributors towards plastic waste from the plastic packaging, plastic shopping bags, PET bottles, and many other appliances using plastic as the major component. Packaging industry contributed 38.2% plastic waste in 2016.

Goldstein Research analyst forecast that the global plastic waste management market size is set to reach USD 31.3 billion by 2024 growing at a CAGR of 4.2% over the forecast years. The rising production of polymers and its consumption in various industries, increasing urbanization, government stringent laws towards waste management and disposal, and increasing awareness among the consumers and businesses towards plastic waste management are some of the factors that will continue to move the global plastic waste management market to grow as per the forecast.

Covered in This Global Plastic Waste Management Market Report

The report covers the present ground scenario and the future growth prospects of the plastic waste management market for 2016-2024 along with the global revenue of the plastic waste management market. We calculated the market size and revenue share on the basis of revenue generated from major players across the globe. We have forecast the market on the basis of the technological innovations, economic development, plastic consumption and production pattern, total solid waste generated, government contracts towards waste management.

Plastic waste management Market - Global Industry Segmentation

By Methods of Waste Management

  • Recycling
  • Incineration/Combustion
  • Disposal
  • Plasma Gasification
  • Composting
  • Landfills

By Material

  • PET (Polyethylene terephthalate)
  • HDPE (High-density polyethylene plastics
  • V (Vinyl)
  • LDPE (Low-density polyethylene)
  • PP (Polypropylene)
  • PS (Polystyrene)
  • Others (combination of 2 or more)

By Source

  • Residential
  • Industrial
    • Packaging Industry
    • Textile & clothing Industry
    • Furniture Industry
    • Automotive Industry
    • Construction Industry
    • Other Industries

Based on Geography

  • North America (U.S. & Canada)  Plastic Waste Management Market {Market Share (%), Market Size (USD Billion)}
  • Latin America (Brazil, Mexico, Argentina & Rest of Latin America)  Plastic Waste Management Market {Market Share (%), Market Size (USD Billion)}
  • Europe (The U.K., Germany, France, Italy, Hungary, Spain, Poland, Sweden &RoE)  Plastic Waste Management Market {Market Share (%), Market Size (USD Billion)}
  • Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia)  Plastic Waste Management Market {Market Share (%), Market Size (USD Billion)}
  • Middle East & Africa (GCC, South Africa, North Africa, RoMEA) Plastic Waste Management Market {Market Share (%), Market Size (USD Billion)}

On the basis of source, industrial segment generated a revenue share of 83.2% in overall plastic waste management market. The industrial wastes such as from packaging, textile, construction industries were the major contributors in plastic waste. The advanced method of food packaging has increased the shelf life, and durability of the other products. Thus, it gradually increased the dependence on the plastic based products. Recycling of HDPE polymers is growing at a rate of 7.1% annually, and it has the largest market share in application of polymers in 2016.

Plastic waste management market outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the plastic waste management market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global plastic waste management market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.

Plastic Waste Management Market Trends, Drivers and Challenges

The trend of circular economy in Europe has given the major push for the plastic waste management market. The circular economy focuses on innovation and full life thinking of the manufactured product. It considered used plastics as a valuable raw material. Europe takes the issue of plastic waste as one of the five priority areas.

According to the report, major driving factor for the growth of plastic waste management market is the rising environmental consciousness that has led to governments coming up with stringent laws for the waste management and recycling of hazardous materials. The bottles made by recycling plastics produces 70.0% less CO2 as compared to bottles made by polymers using oil products. Packaging companies are also increasing their demand for recyclable raw material which can be easily recycled and reused.

Further, the major challenge for the plastic waste management players is with the reuse, recyclability, biodegradability and the management of present hazardous substances. It is difficult to separate the plastic waste containing hazardous substance from the non-hazardous plastic waste, in order to avoid the risk of emitting the hazardous substance in the environment.

Global Plastic Waste Management Market Analysis

Based on geography, Europe has the largest share of 47.2% in global plastic waste management market in 2016; with Germany, Belgium, Switzerland, Sweden, Netherlands, Denmark, and the U.K. are some of the major countries ahead in the plastic recycling. Under the circular economy, Europe has been searching and collecting the plastic waste to recycle them. In 2016, Germany recycled and composted its 65.0% of the total municipal solid waste. On the other hand, North America plastic waste management market is growing with an annual growth rate of 4.3%. It has recycled and composted 35.0% of the total municipal solid waste that expanded under the various recycling policies, such as WRAP (Wrap Recycling Action Program) and United States Environmental Protection Agency (EPA) of U.S. among many others.

Key Players & Competitiveness

Global plastic waste management market report comprises of the following companies as the key players in the plastic waste management market: Veolia Environnement S.A., SUEZ Environnement Company, Waste Management Inc., Republic Services Inc., and Stericycle Inc.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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Key questions answered in this Global Plastic Waste Management Market Report

  • What is the total market size by 2024 and what would be the expected growth rate?
  • What is the revenue of global plastic waste management market in 2015-16 and what would be the expected demand over the forecasted period?
  • What are the key market trends?
  • What are the factors which are driving this market?
  • What are the major barriers to market growth?
  • Who all are the key vendors in this market space?
  • What are the market opportunities for the existing and entry level players?
  • What are the recent developments and business strategy of the key players?

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Global Plastic Waste Management Market Size: Industry Trends, Share, Demand & Growth Analysis, Regional Outlook, And Forecast 2016-2024

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