Plastic waste management market : with continuous growth - Size & Share Will Surpass USD 40.80 Billion Mark
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Market Size – USD 32.46 Million in 2019, Market Growth – at a CAGR of 2.8%, Market Trends – Increasing level of pollution due to usage of plastics
VANCOUVER, BC, CANADA, May 4, 2022 /EINPresswire.com/ -- The global plastic waste management market is projected to reach value of USD 40.80 Billion by 2027, according to a current analysis by Emergen Research. The key factors influencing the market are maintaining the organization's reputation, promoting the concept of sustainable development , reducing the usage of plastics Plastic destroys fertility of soil. Plastics contain harmful chemicals, which increases death rates of all living organisms on the planet. The global market for plastic waste management is expected to remain in a competitive and highly fragmented landscape in the near future, consisting of several small start-ups, medium enterprises, and large conglomerates.
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Several official conferences have been held by the global authorities over the last decade to tackle this complex and serious issue of plastic waste management. The pursuit of a quality, peaceful life by people has led to rise in the demand for goods and services. Due to increase in the consumption level, the level of pollution and waste of goods has also increased, creating adverse effects on the environment. Plastics are also employed to prepare and deliver alternative energy systems such as fuel cells, batteries, and even solar power.
Leading Companies of the Plastic Waste Management Industry and Profiled in the Report are:
Veolia Environment, SUEZ, Waste Management, Inc, Republic Services, Waste Connections, Inc, Biffa, Stericycle, Clean Harbors, Covanta Holding Corporation, and United Plastic Recycling, Inc.
Further Key Findings from Report Suggest:
Durable plastics, used in most of the convenience goods for packaging, are often discarded after a single use and they tend to have a minimum life of three years. Convenience goods include automobiles, computers, household appliances, carpets, and fabrics. Durable goods are still very high on demand , as design engineers, manufacturers, and even consumers rely on their performance, low cost, and design benefits.
Governments can generate revenues from plastic waste management. Governments of countries in North America and Europe have already enforced strict regulations and laws for reducing the carbon dioxide emission level. Hence, the market in these regions is well developed.
In May 2019, Veolia Environment and LC Packaging entered into a strategic agreement for reduction of flexible packaging waste globally. This agreement would result in better services to resolve waste management issues. Veolia Environment is a France-based transnational organization specializing in the following three service and utility areas: water management, waste management, and energy services.
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For the purpose of this report, Emergen Research has segmented the global plastic waste management market based on polymer type, source, service, application, and region:
Polymer Type Outlook (Revenue: USD Billion; 2017–2027)
Polyethylene (PE)
Polypropylene (PP)
Low-density Polyethylene (LDPE)
Polyethylene Terephthalate (PET)
Polyvinyl Chloride (PVC)
Source Outlook (Revenue: USD Billion; 2017–2027)
Residential
Industrial
Commercial
Others
Service Outlook (Revenue: USD Billion; 2017–2027)
Recycling
Energy Recovery
Landfills
Application Outlook (Revenue: USD Billion; 2017–2027)
Packaging
Construction
Textile
Building & Construction
Others
Regional Analysis:
The report sheds light on the region expected to dominate the Plastic Waste Management market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Plastic Waste Management market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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The report covers key points of the market, including the standards, regulations, and policy changes applied by the government on the industry for the coming years. The report encompasses thorough research carried out by the application of advanced analytical tools such as SWOT analysis and Porter’s Five Forces analysis to pinpoint the growth trends and patterns. Factors likely to influence the growth of the market, current trends, opportunities, restraining factors, and business landscape are discussed in-depth in the market study.
Key Questions Answered in the Report:
What is the growth rate of the Plastic Waste Management market? What is the anticipated market valuation of Plastic Waste Management industry by 2027?
What are the key growth driving and restraining factors of the Plastic Waste Management market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Plastic Waste Management industry over the forecast period?
Which region is expected to show significant growth in the coming years?
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