Plastic Waste Management Market Size to Reach USD 40.80 Billion By 2027 | Implementation of Sustainable Development and Awareness Regarding Hazardous Effects of Plastic Waste are Significant Factors Influencing Industry Demand, says Emergen Research
VANCOUVER, BC, Aug. 2, 2021 /PRNewswire/ -- The global plastic waste management market is projected to reach value of USD 40.80 Billion by 2027, according to a current analysis by Emergen Research. Production of plastic has doubled over the last few years. Globally, the demand for plastic has increased from 325 million tons in 2015 to 335 million tons in 2016.
The plastic is a material that can be molded or shaped by heating. Automotive companies have made significant efforts to recycle plastic components and to use recycled plastic contents. In the U.S., where landfill space is increasing, the EPA (Environment Protection Agency) is collecting all relevant informationto handle the life cycle management (LCM) area with more caution..
The global market for plastic waste management is expected to remain in a competitive and fairly fragmented landscape in the near future, consisting of a large number of small start-ups, medium enterprises, and large conglomerates. Increasing demand for technological advancements and high diversification in the products offered provides high growth potential to new players.
In October 2020, Waste Management, Inc. announced to have completed acquiring the outstanding shares of Advanced Disposal, following the receipt of required regulatory approvals. Waste Management, Inc. is a U.S.-based waste management company, with expertise in comprehensive waste, environmental services, and waste management. The company was established in 1968.
Polyethylene terephthalate (PET) is useful for the containment of CO2, which is found in soda bottles and ziplock bags. PET can be recycled into other forms of plastics, which can be reused for carpet fibers. PET is not a safe option to reuse, as it is highly susceptible to bacterial growth and it can release harmful toxins with reuse.
Key players operating in the market are Veolia Environment, SUEZ, Waste Management, Inc., Republic Services, Waste Connections, Inc., Biffa, Stericycle, Clean Harbors, Covanta Holding Corporation, and United Plastic recycling, Inc.
Regional Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2017–2027)
Rest of APAC
Rest of LATAM
Middle East & Afric
Rest of MEA
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