Plastic Waste Management Market to grow
The global Plastic Waste Management market is anticipated to represent incremental opportunity of US$ 11,961.3 Mn between 2018 and 2026. In terms of volume, the global Plastic Waste Management market is, according to Persistance Market Research, estimated to reach 137,096.1 KT by 2018 end and is anticipated to increase to 174,503.3 KT by 2026 while exhibiting a CAGR of 3.5% over the forecast period.
Global Plastic Waste Management Market Dynamics
Growing end user demand for a higher content of recycled plastic in bottles is expected to boost the growth of the plastic waste management market over the forecast period. Utilization of recycled content in packaging reduces the environmental footprint of the package and incentivizes recycling. Various brand owners have shown strong commitment towards utilizing post-consumer recycled content in their products and packaging solutions, while ensuring that their products are compatible to be recycled with existing products.
Limited market communication and value chain coordination is expected to be the key factor restraining the growth of the global plastic waste management market over the forecast period. The plastic waste value chain is highly fragmented and comprises various sectors, diverse and often mutually exclusive range of polymers and diversity in potential end-uses. The quality and quantity of the material flowing though the value chain is limited by coordination and lack of communication along the value chain.
Global Plastic Waste Management Market Forecast
On the basis of resin type, market insights suggest that the thermoplastic segment will continue to dominate the plastic waste management market during the forecast period followed by thermosetting segment. On the basis of nature of service, the processing segment followed by disposal segment is projected to dominate the plastic waste management market in terms of values and volumes during the forecast period. On the basis of source of waste collection, packaging & container segment to remain dominant throughout the forecast period in the global plastic waste management market.
According to Persistence Market Research the North America Plastic Waste Management market is dominate the global plastic waste management market throughout the forecast period. The rest of Europe is expected to dominate the Europe plastic waste management market, owing to the landfill ban across various countries in the region. The India plastic waste management market is expected to register the highest growth over the forecast period.