Recycling Segment Expected to Dominate the Plastic Waste Management Market Factors such as increasing urban population, industrialization, and growing consumer awareness have propelled the growth of the global plastic waste management market. Concerns about the environment and well-being of mankind and other habitants on the earth have resulted in governments imposing stringent regulations to minimize the impact of waste and its harmful byproducts on the environment.
Increasing disposable incomes of people in developing countries and changing preferences of manufacturers for cost-efficient packaging are some of the factors that are driving the plastic waste management market. Certain factors such as the lack proper infrastructure and low participation of waste generators in waste management hinder the growth of this industry.
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Acquisitions is the key strategy adopted by leading companies to accommodate the rapidly changing technologies in application areas and to increase their market share. Companies have also adopted strategic investments & expansions to bridge the existing gaps in their service offerings, end-market requirements, and geographical constraints.
The global plastic waste management market is projected to be valued at around USD 26,573.3 million by 2020, growing at a CAGR of 3.02% from 2015 to 2020. The market for recycling plastics is projected to grow at the highest CAGR.
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Market On the basis of polymer type: •
Polypropylene (PP)
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Low-density polyethylene (LDPE)
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High-density polyethylene (HDPE)
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Polyvinyl chloride (PVC)
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Polyurethane (PUR), polystyrene (PS)
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Polyethylene terephthalate (PET)
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Others
Market On the basis of end-use sector: •
Packaging
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Textile & clothing
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Furniture
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Automotive
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Building & construction
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Others
Market On the basis of region: •
North America
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Europe
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Asia-Pacific
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RoW
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The plastic waste management market is dominated by firms such as Veolia Environnement S.A. (France), SUEZ Environnement Company (France), Waste Management Inc. (U.S.), Republic Services Inc. (U.S.), and Stericycle Inc. (U.S.). The other notable players in the market are Clean Harbors Inc. (U.S.), Progressive Waste Solution Ltd (Canada), ADS Waste Holdings, Inc. (U.S.), Covanta Holding
Corporation (U.S.), and Remondis SE & Co. KG (Germany).
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