MRFR’s Absolute Analysis on Plastic Waste Management Market with Unparalleled Growth Rates, 2023

Global Plastic Waste Management Market Information by Type (Blister Packaging, Skin Packaging, Clamshell Packaging, Others), by Application (Food & Beverage, Pharmaceuticals, Electronics, Personal Care and others), by Material (Plastic, Paper Aluminum and others) and by Region – Forecast to 2023

Recycling of plastic material mainly concerns the reuse and reduction of the waste amount going into landfills. Recycling converts plastic into lower or same grade plastic bottles. Recycling of plastic is prime need of the society because it not only ensures energy recovery by also reducing carbon footprint. Plastic is relatively cheap and versatile, and recycled plastic is used to manufacture a variety of products such as bottles, cloths, films, garbage bags, containers, and carpets. The plastic waste management market will benefit from the use of recycled plastic in industrial applications which will drive the market of plastic waste management market.

The market in the report has been segmented based on Services, polymer types, end users and the regions of North America, Europe, APAC and rest of the world (RoW). On the basis of services the market includes assembly and recycling. Recycled plastic material is widely used in the manufacture of bottles and containers. The market for recycled plastics is expanding as recycling not only saves energy, but also decreases emissions. On the basis of polymer type it is segmented into PP, LDPE, HDPE, PVC and others. The end-use segment of recycled plastics includes the sub-segments of packaging, furniture, building & construction, automotive, and textile & clothing. Packaging products made from recycled plastics occupy the largest market share and are forecast to grow at a faster pace. Moreover, the growing environmental concerns help the plastic waste management market to grow.

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On the basis of services, Recycling is the largest market

Recycling of plastic is prime need of society because it not only ensures energy recovery but also reduces carbon footprint. Through advance in recycling technology can conserve as much of our resources as possible. Recycled products used in end-use industries such as packaging, textiles, construction, wood and furniture and agriculture among others.

The prominent players in the plastic waste management market are Veolia Environnement S.A. (France), SUEZ Environnement Company (France), Waste Management Inc. (U.S.), Republic Services Inc. (U.S.), Stericycle Inc. (U.S.), ADS Waste Holdings, Inc. (U.S.), Remondis SE & Co. KG (Germany), Clean Harbors Inc. (U.S.), Hawkvale Limited(UK) and Hahn Plastics Limited(UK).

Asia-Pacific is expected to grow rapidly during the forecast period. A shift in recycled plastic production growing in China and India, due to the demand and lower labor costs, along with the low environmental, health and safety costs pushing the market towards growth. Moreover, factors such as environmental issues and the improved quality of recycled plastic. The growing emphasis on sustainability, improvements in processing and a broader variety of plastic recycled products are also some major factors which drive the market of plastic waste management. This regional shift is also projected to drive future growth of recycled plastic market.

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