Plastic Waste Management Market Overview:
Plastic Waste management involves activities like plastic waste disposal and plastic waste processing. Because plastic is a persistent and toxic material and comprises of 5% of Municipal Solid Wastes (MSW), which is a major threat to the environment, it is necessary to have a process in place to manage its waste. Plastics are used in everyday life for various purposes, which leads to tonnes of plastic waste in our surroundings. Use of plastic waste in road construction can reduce the cost of construction as well as pollution index of environment to an appreciable extent.
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Plastic Waste Management Market Growth Drivers and Restraints:
The market is segmented into disposal and processing with the processing segment further divided into incineration, recycling and others. The processing segment has accounted for more than half of the overall plastic waste management market at the end of 2018. Growing ban on landfills across various countries is expected to push the demand for plastic waste recycling activities in the near future.
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Plastic Waste Management Market Geographical insights:
The major markets for this segment are North America, Asia Pacific, Europe and Latin America. North America accounted for a significant value share in 2017 and is forecast to maintain its dominance over the projected period. The top 5 countries in Europe are expected to account for around 3/4th of the European plastic waste management market share by the end of 2018, while the rest of Europe is anticipated to create significant incremental opportunity between 2018 and 2026.
Keyplayers of the Plastic Waste Management Market:
Some of the market leaders include B. SCHOENBERG & CO. INC., Advanced Environmental Recycling Technologies Inc., REPLAS, Clear Path Recycling, PLASgran Ltd., Custom Polymers Inc., CarbonLITE Industries, LUXUS Ltd., etc.
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