Market Research Future Insights
Europe's plastic waste management market is at the forefront of global efforts to tackle plastic pollution and promote a circular economy approach to plastics. With stringent environmental regulations, ambitious recycling targets, and a strong commitment to sustainability, European countries have implemented comprehensive waste management systems that prioritize waste prevention, recycling, and resource recovery. The market includes a wide range of stakeholders, including waste management companies, recycling facilities, government agencies, and research institutions, collaborating to develop innovative solutions for plastic waste management. As the circular economy gains momentum and consumers demand sustainable packaging alternatives, the plastic waste management market in Europe is witnessing significant investments in recycling infrastructure, technological innovation, and sustainable packaging solutions. With a focus on reducing plastic waste and promoting a circular economy, Europe is setting global standards for plastic waste management practices and driving market growth through regulatory measures, public awareness campaigns, and industry collaborations.
According to MRFR analysis, Plastic Waste Management Market Size was valued at USD 33,300.3 million in 2023. The plastic waste management market is projected to grow from USD 34,900.9 Million in 2024 to USD 51,510.3 million by 2032, exhibiting a compound annual growth rate (CAGR) of 5.0% during the forecast period (2024 - 2032).
The plastic waste management market refers to the industry involved in the collection, transportation, processing, and recycling of plastic waste to minimize its environmental impact. The market aims to reduce the amount of plastic waste that ends up in landfills, oceans, and other ecosystems, and to promote the circular economy by creating new products from recycled plastic materials.
The COVID-19 pandemic has had both positive and negative impacts on the plastic waste management market. On the one hand, the increased use of single-use plastics, such as masks, gloves, and packaging for online deliveries, has led to a surge in plastic waste. On the other hand, the pandemic has also raised awareness about the need for sustainable waste management practices and spurred investment in recycling infrastructure and technology.
Market Dynamics:
The plastic waste management market is shaped by various dynamic factors. The exponential growth in plastic production and consumption, coupled with inadequate waste management infrastructure, has resulted in a global plastic pollution crisis. Regulatory interventions, public awareness campaigns, and corporate sustainability initiatives drive demand for plastic waste management solutions. Additionally, advancements in recycling technologies, circular economy principles, and innovative waste-to-energy processes offer opportunities for market growth.
Regional Analysis
North America and Europe are currently the largest markets for plastic waste management, with a high level of government support and investment in recycling infrastructure. In these regions, strict regulations and consumer demand for sustainable products are driving growth in the market.
Asia-Pacific is expected to be the fastest-growing region in the plastic waste management market, driven by rapid economic growth and urbanization, coupled with increasing environmental awareness.
Latin America, the Middle East, and Africa are also important markets for plastic waste management, with growing demand for recycling and waste-to-energy solutions.
Market Segmentation
The Global PWM market has been segmented into services, polymers, source and end-user.
Based on Services: Collection, recycling, burning, and disposal are among the services included in the market segmentation for plastic waste management.
Based on Polymer: PP, LDPE, and HDPE polymers are the basis for the market segmentation for plastic waste management.
Based on Source: The market data for plastic waste management has been divided into commercial, residential, and industrial segments based on the source.
Based on end-use: The packaging, construction, and textile segments of the plastic waste management market have been established based on end users.
Key Companies in the Plastic Waste Management Market Include
Veolia Environnement S.A. (France)
SUEZ Environnement Company (France)
Waste Management Inc. (U.S.)
Republic Services Inc. (U.S.)
Stericycle Inc. (U.S.)
ADS Waste Holdings Inc. (U.S.)
Remondis SE & Co. KG (Germany)
Clean Harbors Inc. (U.S.)
Hawkvale Limited (UK)
Hahn Plastics Limited (UK)
Covanta Holding Corporation (U.S.)
Progressive Waste Solutions Ltd. (Canada)
Luxus Limited (U.K.)
PLASgran Ltd. (U.K.)
United Plastic Recycling Inc. (U.S.), among others
Plastic Waste Management Industry Developments
July 2021: To handle the reverse logistics of medical waste, UPS Healthcare and Stericycle formed a strategic alliance. Various medical waste types, including sharps, biohazardous, and pharmaceutical wastes, will be treated, transported, and disposed of, according to the agreement.
June 2020: Green Circle Polymers Ltd. (GCP), based in Grangemouth, was purchased by Biffa plc, the UK's top sustainable waste management company, for £10 million. This included purchasing Green Circle Polymers Ltd (GCP) of Grangemouth, Scotland's sole post-consumer plastics recycling facility (PRF).
Related Reports :
Marché de la valve industrielle
Marché automatisé des véhicules guidés
English
Arabic
Français
Español
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian