Insights Into The Plastic Waste Management Market’s Growth Potential 2024-2033
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
The plastic waste management market has grown steadily, increasing from <$37.36 billion in 2023 to <$39.22 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.0% during the historical period. This growth is attributed to robust economic performance in emerging markets, corporate initiatives for managing plastic waste, technological advancements, and increased plastic usage across various sectors. The market is anticipated to see continued growth, reaching <$48.21 billion by 2028 with a CAGR of 5.3%. Growth drivers in the forecast period include sustained economic growth in emerging markets, ongoing corporate waste management initiatives, technological innovations, and increased plastic use. Major trends include the development of new technological solutions, focus on zero-waste packaging platforms, use of AI for efficient recycling management, emphasis on upcycling processes, and adoption of eco-friendly technologies.
The rise in awareness about plastic management is expected to significantly drive the growth of the plastic waste management industry. Growing awareness of responsible plastic management encourages end-users to adopt recycled plastics and supports the expansion of the plastic waste management sector. Major companies, such as Coca-Cola, are increasing their use of reusable packaging, aiming for at least 25% of beverages to be sold in refillable containers by 2030. This heightened awareness of plastic management practices is anticipated to boost the adoption of effective waste management strategies, contributing to the industry’s growth. Market sizes for 2023: [Insert 2023 market size], 2024: [Insert 2024 market size], and 2028: [Insert 2028 market size] reflect the ongoing emphasis on sustainable plastic management.
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What Are The Key Trends That Influence Plastic Waste Management Market Share Analysis?
Technological advancement is also a major trend in the plastic waste management market. Key players are implementing technologies like machine learning, AI, satellite mapping, and blockchain to manage plastic waste more effectively. For instance, in January 2021, Unilever partnered with Alibaba Group to launch China’s first large-scale closed-loop plastic recycling system powered by AI, which sorts and stores plastic bottles for recycling.
Which Market Players Are Driving Growth In The Plastic Waste Management Market?
Major companies operating in the market are Waste Management Inc, Veolia Environnement S.A, Suez SA, Republic Services Inc, Waste Connections Inc, Stericycle Inc, Biffa Plc, Hitachi Zosen Corporation, ALBA Group, Remondis A/S, Replas, LG Chem, BioPak, UFlex, EsselPropack, Balson Industries, Kingfa Sci. & Tech Co., Ltd, GuangDong Huazhilu Biological Material Co., Ltd, Mitsubishi Chemical Corporation, Plantic Technologies Limited, Total Corbion PLA, Xinghua Xinfeng Plastic Co, Ltd, PLASgran Ltd Remondis SE & Co KG, Covanta Holdings, KW Plastics, Biochemtex, Novamont S.p.A, Avantium N.V, Sulapac, Amsilk GmBH, Carbios Amcor, Clean Harbors, TerraCycle, WM Intellectual Property Holdings, United Plastic Recycling, GFL Environmental Inc, ENF Recycling, Braskem, Fluxana GmbH Co. KG, New Hope Ecotech, Boomera, Flottweg SE, PDL software ambiental, EcoMachine, Mundo Livres, Lamor Corporation Ab, Andritz AG, Amandus Kahl GmbH & Co. KG, Bee’ah, Trident Trackway, Master Skip Services, Globalex Group of companies, RecycleHub Company, Averda, Al Dhafra Recycling, Suhul al Beeah pvt ltd, Mr. Green Africa, Dow Packaging and Specialty Plastics, FabricAid, GreenRepublic, Kudoti, WeCyclers, Jumeni, Coliba Ghana Ltd, Premier Waste Services
How Is The Global Plastic Waste Management Market Segmented?
The plastic waste management market covered in this report is segmented –
1) By Services: Collection, Recycling, Incineration, Landfills
2) By Source: Residential, Commercial And Institutional, Industrial
3) By Plastic Type: Polyethylene Terephthalate (PET or PETE), High-Density Polyethylene (HDPE), Polyvinyl Chloride (PVC or Vinyl), Low-Density Polyethylene (LDPE), Polypropylene (PP), Polystyrene (PS or Styrofoam), Other Plastic Types
4) By End User: Packaging, Textiles, Consumer Products, Transportation, Building And Construction, Electrical And Electronics, Other End Users
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The Plastic Waste Management Global Market Report 2024 provides an overview of the plastic waste managementmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The plastic waste management market forecast analyzes plastic waste management market size, plastic waste management market share, leading competitor and their market positions.
The Table Of Content For The Plastic Waste Management Market Include
1. Plastic Waste Management Market Executive Summary
2. Plastic Waste Management Market Segments
3. Plastic Waste Management Market Size And Template Market Growth Rate
4. Key Plastic Waste Management Market Trends
5. Major Plastic Waste Management Market Drivers
……
25. Key Mergers And Acquisitions In The Plastic Waste Management Market
26. Top Plastic Waste Management Companies
27. Plastic Waste Management Market Opportunities And Strategies
28. Plastic Waste Management Market, Conclusions And Recommendations
29. Appendix
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