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The plastic waste management market share is expected to increase by USD 6.33 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.49%.
This plastic waste management market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers plastic waste management market segmentation by type (incineration, disposal, and recycling) and geography (APAC, Europe, North America, Middle East and Africa, and South America). The plastic waste management market report also offers information on several market vendors, including California Waste Solutions Inc., Casella Waste Systems Inc., China Everbright Environment Group Ltd., Clean Harbors Inc., Covanta Holding Corp., Fomento de Construcciones y Contratas SA, Recology Inc., REMONDIS SE and Co. KG, Republic Services Inc., Rumpke Consolidated Companies Inc., Stericycle Inc., SUEZ SA, The Shakti Plastic Industries, Vanden Global Ltd., Veolia Environment SA, Waste Connections Inc., Waste Industries LLC, Waste Management Inc., Waste Pro USA Inc., and Cleanaway Waste Management Ltd. among others.
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The increasing initiatives by regulatory bodies and government is notably driving the plastic waste management market growth, although factors such as fewer treatment plants and less awareness may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the plastic waste management industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Plastic Waste Management Market Driver
One of the key factors driving growth in the plastic waste management market is the increasing initiatives by regulatory bodies and the government. The United Nations has launched several measures to reduce global plastic waste production. PLAY IT OUT: A Plastic Pollution Festival, and GETTING THE HOUSE IN ORDER: Addressing Plastic Waste at the UN are two efforts that have been launched to raise awareness and combat plastic pollution throughout the world. The President of the United Nations General Assembly has joined forces with the governments of Antigua and Barbuda, Norway, as well as UN Environment, UNOPS, the Krimm Group (TKG), Lonely Whale, and National Geographic to assist in raising global awareness about the issue of plastic waste management. This is boosting the demand for waste management infrastructure and adequate integrated waste management policies, which, in turn, is driving the growth of the plastic waste management market.
Key Plastic Waste Management Market Trend
The increasing number of landfills in India is another factor supporting the plastic waste management market share growth. The landfill is one of the most common waste disposal options in India since more than half of all solid waste created is untreated and deposited into landfills, owing mostly to inadequate waste management systems in the country. Private businesses are gaining traction, particularly in municipal authorities in West Bengal, Karnataka, and Haryana, where the waste management is subpar due to insufficient planning and lower investment than intended by various state governments. As a result, the government is actively monitoring market conditions and offering assistance to industry participants through the easing of investment requirements and monetary incentives.
Key Plastic Waste Management Market Challenge
The fewer treatment plants and less awareness will be a major challenge for the plastic waste management market during the forecast period. Plastic waste management and waste management infrastructure are poorly understood, and many suppliers and production units routinely dump their plastic waste into water bodies or on land. Globally, there are relatively few effective policies and procedures for managing plastic waste. This is one of the most significant barriers to the expansion of the plastic waste management market.
This plastic waste management market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global plastic waste management market as a part of the global environmental and facilities services market within the global industrial market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the plastic waste management market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the plastic waste management market encompasses successful business strategies deployed by the key vendors. The plastic waste management market is fragmented and the vendors are deploying growth strategies such as offering technologically advanced plastic waste management services to ensure compliance with such government regulations to compete in the market.
calwaste.com ? Unified - Under this segment, the company provides recycling, material disposing, separation, and collection services in commercial support services.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The plastic waste management market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the plastic waste management market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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49% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for plastic waste management in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The regional population expansion, people high disposable income, and the growing demand for packaged food goods will facilitate the plastic waste management market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 in APAC adversely affected the economies of various countries such as China, India, and Japan. The increasing number of COVID-19 cases in the region raised the volume of plastic waste, especially from healthcare facilities. This resulted in the raised demand for plastic waste management services in 2020. Moreover, the rising risk of accidental infection incidence due to the poor handling of waste that includes hazardous medical waste increased the demand for plastic waste management services in the region amid the outbreak. In addition, favorable government initiatives for waste management are estimated to boost the sales of plastic waste management services in APAC during the forecast period.
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The plastic waste management market share growth by the incineration segment will be significant during the forecast period. Sophisticated incinerators that burn plastic and other forms of MSW can generate sufficient heat and steam to turn the turbine blades and generate electricity for a local grid. This technology is highly popular in countries such as Japan that have a shortage of land. Also, the energy produced by incineration plants is in high demand in nations such as Sweden and Denmark. Hence, incineration is being popularly used across the world for plastic waste management.
This report provides an accurate prediction of the contribution of all the segments to the growth of the plastic waste management market size and actionable market insights on post COVID-19 impact on each segment.
Plastic Waste Management Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.49% |
Market growth 2022-2026 |
$ 6.33 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.01 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 49% |
Key consumer countries |
US, China, Japan, India, Germany, and Brazil |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
California Waste Solutions Inc., Casella Waste Systems Inc., China Everbright Environment Group Ltd., Clean Harbors Inc., Covanta Holding Corp., Fomento de Construcciones y Contratas SA, Recology Inc., REMONDIS SE and Co. KG, Republic Services Inc., Rumpke Consolidated Companies Inc., Stericycle Inc., SUEZ SA, The Shakti Plastic Industries, Vanden Global Ltd., Veolia Environment SA, Waste Connections Inc., Waste Industries LLC, Waste Management Inc., Waste Pro USA Inc., and Cleanaway Waste Management Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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