Plastic Waste Management Market Share, Size, Trends & Industry Analysis Report, By Resin Type (Thermosetting, Thermoplastic); By Equipment (Assembly & Transportation Equipment, Recycling Equipment, Incineration Equipment); By Services; By Source; By End-User; By Regions: Segment Forecast, 2024 - 2032

The global plastic waste management market size was valued at USD 36.58 billion in 2023. The market is anticipated to grow from USD 37.78 billion in 2024 to USD 49.25 billion by 2032, exhibiting the CAGR of 3.4% during the forecast period.

The generation of plastic waste has increased significantly over the years. Most products that are used on a daily basis are either manufactured with plastic or are packaged in it. This waste is generated domestically, industrially and commercially.

Reprocessing of plastics, sorting plastic waste, and segregating recyclable plastic are some steps taken to manage plastic waste. Among these, recycling plastic waste is the most effective way of controlling plastic pollution. It assists in reducing the production of additional plastic, along with maintaining a low carbon footprint on the planet. Owing to the diversity of its application, the recycled plastic can then be used in production of clothes, storage containers, films, and garbage bags among others. Effective implementation of an efficient plastic waste management system can ensure reduced dangers on public health, economy and ecological preservation.

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The market for Plastic waste management is influenced by improved economic conditions, demographic and socio-economic changes, and environmental concerns. Factors such as growing urbanization, increasing population in developed countries, and rising industrialization heavily impacts the market growth. The growth in plastic packaging consumption and increasing environmental awareness among consumers improves the market growth. The increasing trend towards recycled plastic, and growing use of recyclable plastic packaging in the food and beverage sector increases the implementation of plastic waste management. The increasing focus on sustainable packaging solutions and growing need to recycle plastic has increased the market growth. Stringent regulations enforced by governments worldwide, and growing initiatives to promote sustainable waste management practices are expected to provide growth opportunities in the market during the forecast period.

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Segment Analysis

The global plastic waste management market is segmented on the basis of resin type, equipment, service, source, end-user, and region. The report segments the resin type into thermosetting, and thermoplastic. The thermosetting segment comprises polyurethane, epoxy, polyester, polyimide, silicone, and others, whereas the thermoplastic segment comprises PET, PVC, PP, PS, nylon, and polyethylene among others.

The equipment segment is categorized into assembly & transportation equipment, recycling equipment, and incineration equipment. The market report segments the services into recycling, assembly, incineration, transportation, clearance, and others. The source segment is categorized into residential, commercial, industrial, and others. The industry report segments the end-users into automotive, packaging, construction, wood and furniture, textiles, and others.

Plastic Waste Management Market Scope

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Regional Analysis

The report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., and Canada. Europe is divided into Germany, UK, France, Italy, Spain, Belgium, Russia, Netherlands, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, Korea, Singapore, Malaysia, Indonesia, Thailand, Philippines and Rest of Asia-Pacific.  

Asia-Pacific is the major region contributing to the global market growth due to increasing environmental concerns, and adoption of stringent regulations regarding use of plastic and other non-recyclable packaging materials. Moreover, concerns about rising pollution level caused by plastic products have accelerated the market growth in this region.

Competitive Landscape

The leading players in the report include Progressive Waste Solutions Ltd., Covanta Holding Corporation, Wastecare Ltd., Reprocesses Plastic, Inc., Waste Management Inc., Suez Environnement Company, ADS Waste Holdings, Inc., United Plastic Recycling, TM Recycling GmbH., and Hahn Plastics Limited among others. These leading players are introducing innovative products in the market to cater to the growing demand for consumers. Global players are entering new markets in developing regions to expand their customer base, strengthen market presence, and increase their market share.