The Plastic Waste Management Market to scale through innovations at a CAGR of 3.9% between 2018 to 2026

Posted on 2022-04-30 by Future Market Insights, Inc in Chemicals, Computers // 0 Comments

The Plastic Waste Management Market is expected to grow at a good rate In Upcoming Years. Digitization has brought with it the concept of “smart industry”. As such, even data collection and analysis happen through digital transformation. With 3D scanners in place, the potential to identify safety hazards is bound to increase manifold. Also, mobile Bluetooth capabilities could be used effectively for speeding up the operations by monitoring the attendance then. These practices are bound to create wonders for the industry in all.

The plastic waste management market is driven by benevolence of people regarding the hazards of plastic. Also, people have realized the importance of managing plastic waste already generated. Therefore, the people are looking towards usage of recycled plastic in place of one-time use plastic.

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PMR states that the global plastic waste management market will witness a CAGR of more than 3.5% between 2020 and 2030.

Company Profiles:

B.Schoenberg & CO., INC.
Advanced Environmental Recycling Technologies, Inc.
REPLAS
Clear Path Recycling
PLASgran Ltd.
Custom Polymers, Inc.
Carbon LITE Industries
LUXUS Ltd.
wTe Corporation
KW Plastic, Inc.
Kuusakoski Group
Shanghai Pret Composites Co., Ltd.
Republic Services, Inc.
Reprocessed Plastic, Inc.
4G Recycling Inc.
Vanden Global Ltd.
TerraCycle
The WasteCare Group
Veolia Environmental SA
Others.

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Key Takeaways from Plastic Waste Management Market

With respect to volume, “landfills” are contributing to the filth. This could be attributed to mismanagement of plastic waste due to less number of incinerators and recycling plants present. However, in future, landfills are expected to reduce with appropriate plastic waste management in place.
As far as recycled plastic waste is concerned, “packaging” sector is expected to lead from the front in the near future. Sustainable packaging solutions like bottles, films, bags, containers, and several other protective packaging things) are accelerating the demand.
Coming to value, the Asia-pacific is expected to grow at the fastest rate between 2020 and 2030 due to developing and under-developed economies herein witnessing infrastructural development, which calls for proper plastic waste management.
Amongst recycling, incineration, and others, recycling holds the largest market share and the status quo is expected to stay unchanged in the upcoming period as well.

How is the plastic waste management market structured?

The key players in the plastic waste management market include Veolia Environnement, SUEZ, Waste Connections Inc., Republic Services, Clean Harbors, Covanta Holding Corporation, Biffa, Remondis SE & Co. KG, and Stericycle. SUEZ comes across as a major provider of waste management services. They include collection as well aas transportation of hazardous and domestic waste, decontaminating, treating, storing, and marketing secondary, recycled raw materials for helping healthcare professionals, industries, and municipalities with regards to waste management.

On proactive mode, SUEZ did partner with CAPEB (French Confederation of Construction Tradesmen and Contractors) to raise awareness amongst the construction contractors regarding enhancement in sorting as well as recovering waste from the construction materials. This partnership was in line with Energy Transition Law set up by France (to recover 70% of the building waste by the year 2020).

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Effect of Covid-19 on the plastic waste management market

The outbreak of Covid-19 has worked both the ways for plastic waste management market. On one note, usage of plastic has reduced with people staying/cooking at home amidst partial/total lockdown being inflicted all across since Mar 2020. On the other note, the existing process of plastic waste water management has taken a hit due to the same lockdown. This sinusoidal situation is expected to persist till mid-2021. This would be till mid-2021, when Covid-19 vaccine is expected to be in place.

Analyst’s Viewpoint

“The plastic waste water management market has already been going great guns and is expected to go ahead full throttle further with increasing awareness among the people post-Covid-19 era”.

Plastic Waste Water Management Market: Conclusion

The plastic waste water management market is making inroads to mitigate the ill-effects of plastic. The stupendous task of plastic waste management will continue, but after Covid-19 effect cools off.

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