Global Plastic Waste Management Market – Industry Updates and Future Opportunity
Plastic waste management is the process of controlling of storage, transportation, allocation & gathering, and clearance & dispensation of wastes in order to prevent public health, industrial, economics, and preservation. The Plastic Waste Management market is expected to witness a significant growth over the forecast period owing to the favorable government regulations & laws coupled with the rising urbanization & industrialization across the globe. Additionally, growing consumer awareness towards lead a healthy & pollution free lifestyle has further pushed the growth of the market. Growing initiatives for disposal & management of waste products to avoid the hazardous effect of accumulating waste have led the municipalities and the private sector to offer the recycling & collection of plastic wastes globally, which in turn will drive the market demand over the coming years. Growing recycled plastics market along with expanding packaging sector is anticipated to open new avenues for the growth of the plastic waste management market in the study period. Rising demand for plastics products will further boost the market growth during the forecast period. However, availability of less number of waste management plants and lack of knowledge are major challenges, which may hinder market growth in the stipulated time-period.
In the report, “Global Plastic Waste Management Market Research Report- Industry Analysis, Size, Share, Growth, Trends And Forecast” added by DecisionDatabases.com the market overview, market size, growth trends and future prospects are elaborately covered. The report incorporates the plastic waste management market analysis on the basis of polymer type, source material type, services and end-use industries. The report offers details about the drivers, restraints and growing opportunity in the industry.
The global market has been segmented based on polymer type into polyethylene (HDPE, LDPE & LLDPE), polypropylene, PET, PVC, PS and others (ABS & PC). The market has been further segmented based on source material type into source material type and industrial plastic waste. Furthermore, the market has been segmented based on services and end-use industries. Recycling is a leading service segment and is projected to witness a double-digit growth in the study period on account of its growing application scope for various end-use industries such as packaging, building & construction, furniture and textile & clothing. Packaging is a major end-use segment and is estimated to grow at the highest CAGR over the forecast period due to its increasing global demand for all key industries.
North America is a major market and is expected to grow at a substantial rate during the forecast period owing to the presence of a large number of major players, their willingness to invest in capital-intensive projects and accessibility of technical expertise in the region. Asia Pacific is a fastest growing market and is anticipated to grow at the highest CAGR over the forecast period due to rapid industrialization, increasing purchasing power and favorable government initiatives to manage waste & spread awareness for the same.
The key players include Hawkvale Limited, Hahn Plastics Limited, Luxus Limited, PLASgran Ltd., United Plastic Recycling, Kuusakoski Group, TM Recycling GmbH, Hermion BV., RENOVA, Inc. and Think Plastics Inc.
In May 2016, The Indian government has launched a web-based application to enable industries trading in harmful waste products to seek online permissions for export and import of certain categories of waste used for recycling.
In July 2016, The Shire of Denmark has introduced a nation-wide RED-cycle Program, for recycling of soft plastics.
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