Plastic waste management market worth US$11,961.3 million by 2017 to 2026
NEW YORK CITY, USA, March 10, 2022 /EINPresswire.com/ — The plastic waste management market is expected to grow at a good pace in the coming years. Digitization has brought with it the concept of “intelligent industry”. So even data collection and analysis goes through digital transformation. With 3D scanners in place, the potential for identifying security risks is set to increase dramatically. Additionally, mobile Bluetooth capabilities could be used effectively to speed up operations by subsequently monitoring attendance. These practices are bound to create wonders for the industry as a whole.
The plastic waste management market is driven by the benevolence of populations towards the dangers of plastic. In addition, people have become aware of the importance of managing the plastic waste already generated. Therefore, people are turning to using recycled plastic instead of single-use plastic.
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PMR reports that the global plastic waste management market will grow at a CAGR of over 3.5% between 2020 and 2030.
B.Schoenberg & CO., INC.
Advanced Environmental Recycling Technologies, Inc.
Clear Path Recycling
Custom Polymers, Inc.
LITE Carbon Industries
KW Plastic, Inc.
Shanghai Pret Composites Co., Ltd.
Republic Services, Inc.
Reprocessed Plastic, Inc.
4G Recycling Inc.
Vanden Global Ltd.
The WasteCare Group
Veolia Environment SA
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Key Takeaways from the Plastic Waste Management Market
In terms of volume, the “discharges” contribute to the dirtiness. This could be attributed to poor plastic waste management due to fewer incinerators and recycling plants present. However, in the future, landfills are expected to decrease with proper plastic waste management in place.
When it comes to recycled plastic waste, the “packaging” sector is expected to take the lead in the near future. Sustainable packaging solutions like bottles, films, bags, containers and several other protective packaging) are accelerating the demand.
In terms of value, Asia-Pacific is expected to grow at the fastest rate between 2020 and 2030 due to developing and underdeveloped economies experiencing infrastructure development, which requires proper management of plastic waste.
Among recycling, incineration and others, recycling holds the largest market share and the status quo is also expected to remain unchanged in the coming period.
How is the plastic waste management market structured?
The major players in the plastic waste management market are Veolia Environnement, SUEZ, Waste Connections Inc., Republic Services, Clean Harbors, Covanta Holding Corporation, Biffa, Remondis SE & Co. KG and Stericycle. SUEZ appears to be a major player in waste management services. They include the collection and transport of hazardous and domestic waste, decontamination, treatment, storage and marketing of secondary and recycled raw materials to help health professionals, industries and municipalities in waste management.
Voluntarily, SUEZ has joined forces with the CAPEB (French Confederation of Building Craftsmen and Contractors) to raise building contractors’ awareness of improved sorting and recovery of construction material waste. This partnership was part of the energy transition law implemented by France (recovering 70% of building waste by 2020).
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Effect of Covid-19 on the plastic waste management market
The Covid-19 outbreak has worked both ways for the plastic waste management market. On the one hand, the use of plastic has decreased, with people staying/cooking at home amidst a partial/full lockdown imposed everywhere since March 2020. On the other hand, the existing waste water management process in plastic took a beating due to the same confinement. This sinusoidal situation should persist until mid-2021. That would be until mid-2021, when the Covid-19 vaccine should be in place.
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