The plastic regulatory market involves products and services which help regulate and control plastic production and disposal. This includes testing kits for plastic and polymer identification, equipment for plastic recycling, as well as consultancy services for compliance with regulatory norms. Plastic products are ubiquitous in modern life due to their versatility and low costs. However, safety concerns have arisen regarding plastic waste disposal and the leaching of toxic chemicals from certain plastic items. Increasing awareness about the effects of plastic pollution on health and environment has prompted governments worldwide to introduce stringent regulations for plastic usage, reuse and recycling.

The Global plastic regulatory market is estimated to be valued at US$ 19.15 Bn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the plastic regulatory market are LabCorp, Quest Diagnostics, OPKO Health, Miraca Holdings, Myriad Genetics, Sonic Healthcare, Healthscope, Foundation Medicine, Primary Health Care, Fulgent Genetics. These companies offer an array analytical testing services and equipment for identification and sorting of different polymer types to help plastic manufacturers and recyclers comply with Plastic Regulatory Market Size norms.

The demand for plastic regulatory services is growing due to increasing legislative bans and taxes on single-use plastics as well as mandates for minimum recycling content in plastic products. Various countries have set target dates to phase out commonly littered plastic items like bags, straws, cutlery and balloons to reduce plastic waste. This is driving the need for testing, auditing and certification services.

Get More Insights On- Global Plastic Regulatory Market