The plastic waste management market accounted for US$ 31.5 billion in 2019 and is estimated to be US$ 38.5 billion by 2025 and is anticipated to register a CAGR of 4.0%.
The report “Global Plastic Waste Management Market, By Service (Collection, Recycling, Incineration, and Disposal), By Source (Commercial, Residential, and Industrial), By End -use Application (Packaging, Construction, and Textile), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2025.”
Key Highlights:
- On 02 January 2020, Veolia, declared that it has signed an agreement to acquire Alcoa USA Corporation’s Hazardous Waste Treatment Site which is located in Arkansas (USA), Gum Springs.
Analyst View:
Increasing population and industrialization
Rise in population and rapid industrialization the usage of plastic increases due to rise in using plastic generates the plastics waste. Additionally, the urbanization of the population can also generates the plastic waste which is the major driving factor for the growth of the target market.
Stringent government rules and regulations
For the usage of plastics government has stringent government rules and regulations which is another factor expected to fuels acceptance for waste management services and drives growth of the global plastic waste management market during the forecast period.
Key Market Insights from the report:
The global plastic waste management market accounted for US$ 31.5 billion in 2019 and is estimated to be US$ 38.5 billion by 2025 and is anticipated to register a CAGR of 4.0%. The market report has been segmented on the basis of services, source, end- use application, and region.
- By services, the global plastic waste management market is segmented into collection, recycling, incineration, and disposal
- By source, , the target market is segmented into commercial, residential, and industrial
- By end- use application, the global market is bifurcated into packaging, construction, and textile
- By region, North America region is dominating the plastic waste management market due to well-established rules and regulations by the government. Asia pacific region is anticipated to show important growth for the plastic waste management over the forecast period due to government initiatives and spread awareness about plastic waste management through various programs.
To know the upcoming trends and insights prevalent in this market, click the link below:
https://www.prophecymarketinsights.com/market_insight/Global-Plastic-Waste-Management-Market-4216
Competitive Landscape:
The prominent player operating in the global plastic waste management market includes Veolia Environnement S.A., SUEZ Environnement Company, Waste Management Inc., Republic Services Inc., Stericycle Inc., ADS Waste Holdings, Inc., Remondis SE & Co. KG, Clean Harbors Inc., Hawkvale Limited, Hahn Plastics Limited.
The market provides detailed information regarding industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory framework across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included into the report.
