Plastic waste management service refers to approaches and strategies used to recycle plastic materials that would otherwise be dumped into landfills, or bodies of water, or otherwise contaminate the environment. The idea behind this type of waste management is to utilize those discarded materials to manufacture new plastic products without the need to actually generate additional plastic materials. Growth in awareness programs towards waste management practices is one of the major factors responsible for the high CAGR of the market. Rising demand from developing economies is the factor that offers growth opportunities. Also, shifting preference towards recycled plastic is contributing towards the growth of the global market. Further, Waste Management Services offers several benefits such as less disposal to landfills and less overall harm to the environment and meeting legal obligations that regulate their demand across various regions. However, the absence of infrastructure for plastic waste collection & segregation and less participation of source sectors towards waste management are the factors anticipated to hamper the market growth during the forecast period.
Global Plastic Waste Management Services Market is valued at approximately USD 25,047.88 million in 2018 and is anticipated to grow with a healthy growth rate of more than 3.00% over the forecast period 2019-2026 and is estimated to reach USD 31,729.90 million by 2026.
The regional analysis of the global Plastic Waste Management Services market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising demand for Plastic Waste Management Services in the region. Europe also contributes a significant growth in the global Plastic Waste Management Services market during the forecast period. Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2019-2026 due to rising concern towards the environment among people across the region.
Major market players included in this report are 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 Plastics Inc., and 4G Recycling Inc.
The detailed segments and sub-segment of the market are explained below:
By Type: Thermosetting, Thermoplastic
By Application: Plastic Waste, Heat Energy Generation, Recycled Plastics, Others
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