Bizizz Market Research has recently published a research report, “Plastic Waste Management Market By end-user Type (Residential, Industrial and Commercial & Institutional), Material(Polypropylene (PP), High-density Polyethylene (HDPE), Low-density Polyethylene (LDPE), Polyethylene Terephthalate (PET), Polystyrene (PS), Polyvinyl Chloride (PVC), Polyurethane (PUR) and Others), service (Transportation & Collection, Recycling, Incineration and Landfills/Disposal), End-user (Packaging, Building & Construction, Textile & Clothing, Automotive, Furniture and Others) Application (Precision Agriculture, Retail, Media & Entertainment), Component, and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Plastic Waste Management Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 40.1 Bn by 2027, witnessing a CAGR of 2.8 % during the forecast period. Key drivers of the market are increasing adoption of environmental friendly offerings along with increasing population is boosting its market growth.
Increasing awareness among the customers on sustainable waste management and increased focus on plastic recycling are vital factors contributing to the plastic waste management market growth. Tough government laws & regulations by divergent countries are anticipated to propel the market growth during the forecast period.
Raising demand from developing nations and surging industrialization & urbanization are some key factors expected to stimulate its market growth. Additionally, rapid growth of private & public sector partnership in developed countries coupled with increased recycling plans worldwide are vital factors accelerating its growth during the forecast period.
The Plastic Waste Managemen market is anticipated to register a CAGR of over 2.8% during the forecast period.
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By end-user, packaging segment held a key share in Global Plastic Waste Management Market in 2018.
Packaging is leading the global market significantly by the plastic waste management during the forecast period. Increased packaging industry worldwide with a raise in the application of recycled plastic for packaging is the vital causative factor for its dominance. Recycled plastic has different advantages including less dependence on fossil fuels, pollution reduction and others. Such benefits taken by recycled plastics are anticipated to contribute the market growh over the forecast period. Increased application of recycled plastic in eco-friendly packaging solutions constitutes of bags, containers, films, bottles, and others are projected to further contribute to the segment. Thus packaging segment is anticipated to propel at a higher CAGR and continue its expansion in the market during forecast period.
Asia Pacific is Anticipated to Dominate the Global Plastic Waste Management Market during the Forecast Period.
Asia Pacific accounted for a considerable demand in the global plastic waste management market. Increasing awareness of waste management along with urbanization and industrialization countries of Asia Pacific that are developing including China and India are the important drivers supporting the regional dominance. Government regulations that are tough coupled with increased purchasing power are important factors anticipated for driving the market during the forecast period. An increased development of plastic recycling plants is one prominent factor projected to support its regional growth during the forecast period. Thus, Asia Pacific is anticipated to steadily dominate.
Global Plastic Waste Managemen market was moderately consolidated with key players accounting for significant share in 2018. Thus, various new entrants are expanding their global presence through partnerships and investments to tap the market growth.
Prominent players operating in the Global Plastic Waste Managemen Market are: Waste Management, Inc., Remondis SE & Co. KG, Stericycle, SUEZ Environment Company, Biffa, Covanta Holding Corporation, Veolia Environnement, Republic Services, Clean Harbors, Hawkvale Limited, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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