The global plastic waste management industry share is projected to reach USD 41.58 billion by 2027, exhibiting a CAGR of 3.1% during the forecast period. Unchecked plastic pollution levels during the COVID-19 pandemic is expected to create unique growth opportunities for the market, suggests Fortune Business Insights™ in its report. The COVID-19 outbreak has triggered a race for the production of personal protective equipment (PPE), which are mostly made from plastic.
Source: https://www.fortunebusinessinsights.com/plastic-waste-management-market-103063
However, their sustainable disposal, especially the disposal of single-use plastic, has sparked fears among environmentalists and academicians as PPE contains large amounts of micro-plastics. For example, the World Wide Fund estimates that if just 1% of the 1 billion masks used in Italy every month are discarded improperly, it could lead to the accumulation of 10 million plastic masks in the environment, causing unprecedented pollution. In such a dire scenario, efficient plastic waste management techniques can be instrumental in tackling the long-term threats posed by skyrocketing plastic pollution levels, further fueled by the coronavirus pandemic. However, owing to supply chain disruptions, the plastic waste management market growth will be moderate for the present year.
