Plastic Waste Management Market Growth Accelerated by Increased Environmental Concerns

Plastic Waste Management Market


Plastic waste management involves collection, disposal and recovery of plastic waste through recycling or energy recovery. Rapid urbanization and consumerism have led to massive plastic waste generation globally. Plastic waste poses serious threats such as pollution of water bodies and landfills if not disposed of properly. There is growing awareness about harmful effects of plastic pollution on environment and human health.

The global plastic waste management market is estimated to be valued at US$ 42.5 Mn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends driving growth in the plastic waste management market is increased environmental concerns. Plastic pollution has become a serious threat as tons of plastic ends up in oceans every year, killing marine animals. This has brought plastic waste management into the global spotlight. Governments across nations have implemented strategies and regulations to curb plastic pollution and promote effective plastic waste management. Standards for recycling and energy recovery from plastic waste have become stringent. Investment is pouring into technological advancements for developing innovative plastic recycling systems. Industry participants are coming up with advanced solutions to tackle challenges in plastic waste collection and processing. Focus on circular economy and sustainable plastic utilization will further accelerate the plastic waste management market growth over the coming years.

Segment Analysis

The global plastic waste management market is dominated by the municipal plastic waste management segment. This is because majority of the plastic waste generated comes from domestic and commercial establishments. Municipal authorities have established extensive collection and sorting infrastructure to collect plastic waste from households and businesses for appropriate disposal or recycling.

Key Takeaways

The global plastic waste management market is expected to witness high growth over the forecast period of 2024 to 2031. Rapid urbanization and improving living standards are increasing plastic consumption globally. At the same time, lack of proper plastic waste disposal infrastructure in developing nations is posing challenges. Global Plastic Waste Management Market Size is estimated to be valued at US$ 42.5 Mn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024 to 2031.

Regional analysis

Asia Pacific region accounts for the largest share in the global plastic waste management market currently. This is due to high plastic waste generation from countries like China, India, Indonesia and others. Asia Pacific region is also expected to witness the fastest growth over the forecast period backed by increasing investments towards improving waste management facilities in developing nations. North America and Europe are established markets with presence of many technology providers and recyclers. Presence of stringent regulations regarding plastic recycling and reuse is supporting market growth.

Key players

Wolfe Heavy Equipment, EZ-Trench, Tesmec, Ditch Witch, Marais, Vermeer, are some of the leading players operating in the global plastic waste management market. These companies offer comprehensive plastic waste collection, sorting and recycling solutions. They are focusing on expansion into developing Asian markets with growing need for better waste management systems. Companies are also investing in advanced recycling technologies to increase plastic recovery rates from complex waste streams. Partnerships with municipal bodies and waste generators is a key focus area.

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