Plastic Waste Management Market is projected to reach USD 35.10 billion by 2026

Plastic Waste Management Market Analysis Size, Growth rate and Overview:

Plastic Waste Management Systems Market was valued at USD xx billion in 2017 and is expected to reach almost USD 35.10 billion by the end of 2026, growing at a CAGR of around xx% over the predicted period.

Plastic Waste management involves activities like plastic waste disposal and plastic waste processing. Because plastic is a persistent and toxic material and comprises of 5% of Municipal Solid Wastes (MSW), which is a major threat to the environment, it is necessary to have a process in place to manage its waste. Plastics are used in everyday life for various purposes, which leads to tonnes of plastic waste in our surroundings. Use of plastic waste in road construction can reduce the cost of construction as well as pollution index of environment to an appreciable extent. Growing ban on landfills across various countries is expected to push the demand for plastic waste recycling activities in the near future.

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Plastic Waste Management Market Key Drivers, Challenges, and Opportunities:

Growing ecological concern has led to the adoption of plastic waste management worldwide. This effective waste management method is ensured to leave a minimal carbon footprint by saving landfills and conserving up to 80% of the energy for the production of new plastic-based components. The industrial application for the recycled plastic products can propel the market of plastic waste management.

Governments of various nations are also showing a keen interest in this plastic waste management procedure. Hazards related to plastic usage has given rise to concerns regarding its usage. Governments are now imposing several stringent measures and stipulations to lower the carbon footprint, therefore, giving rise to the implementation of plastic waste management.

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Plastic Waste Management Market – Regional Presence:

The major markets for this segment are North America, Asia Pacific, Europe and Latin America. North America accounted for a significant value share in 2017 and is forecast to maintain its dominance over the projected period. The top 5 countries in Europe are expected to account for around 3/4th of the European plastic waste management market share by the end of 2018, while the rest of Europe is anticipated to create significant incremental opportunity between 2018 and 2026.

Some of the Key Players Profiled in this Plastic Waste Management Market Report are:

B. SCHOENBERG & CO. INC., Advanced Environmental Recycling Technologies Inc., REPLAS, Clear Path Recycling, PLASgran Ltd., Custom Polymers Inc., CarbonLITE Industries, LUXUS Ltd., etc.

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