Plastic Waste Management Market Size & Share, by Service (Collection, Recycling, Incineration, Landfills); Polymer (Polypropylene, Low-density Polyethylene, High-density Polyethylene, Polyvinyl Chloride, Polyurethane, Terephthalate); Source (Residential, Commercial, Industrial); End-user (Packaging, Textile, Consumer Product, Transportation, Building & Construction) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 2770
  • Published Date: Feb 15, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Plastic Waste Management Market size is poised to cross USD 40 Billion by the end of 2033, growing at a CAGR of 4% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of plastic waste management was over USD 30 Billion. The primary factor that is attributed to the plastic waste management market expansion is the recent growth in the plastic industry, rising new techniques to treat plastic waste, and increasing initiatives by government and private key players. Recent reports suggest that the total value of the United States plastic shipments was around USD 400 billion in 2020.

Rapid industrialization, rising urbanization, and increasing concern about the environmental impact of improper plastic waste management are anticipated to drive the market over the forecast period. Also, the high utilization rate is expected to bring in more plastic waste in the world, thus, expanding the plastic waste management market size. As of 2019, it was estimated that in the United States, almost 40 million tons of plastic are used every year.


Plastic-Waste-Management-Market
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Plastic Waste Management Sector: Growth Drivers and Challenges

Growth Drivers

  • Rapid Production of Plastic Goods Throughout the World – The plastic waste management market is anticipated to significantly grow owing to the high utilization of plastic in a wide range of applications. Increasing usage of plastic generates plastic waste, which is non-degradable and is responsible for significant greenhouse gas emissions that can lead to huge ecological crises. Therefore, the growing need for proper disposal management of plastic waste is anticipated to drive the market over the forecast period. As per the latest reports by Organization for Economic Co-operation and Development, it was estimated that tlobal plastic production rose from 2000 to 2019 and stood up at approximately 460 million tons. 
  • High Demand for Plastic Products Owing to Rising Use in Every Packaging – The recent data disclosed in 2022, around one million plastic bottles are purchased every minute and around five trillion plastic bags are used every year across the world.
  • Growth in Waste Generation with Increasing Fast-Food Centers, Beverages, and Other Product Manufacturing – As per a report published in 2022, it was estimated that 300 million tons of plastic waste are produced every year. Further, plastic wastage generation is growing at an annual rate of 9%.
  • Rising Concern of Plastic Recyclability Among People – Recent report published in 2022, anticipated that around 90% of plastic is not recycled.
  • Increasing Environmental Concern and Rising Awareness Among People on Eco-Friendly Products  As per a survey conducted in 2019, about 33% of people chose sustainable products, 35% of them looked for eco-friendly packaging, and over 405 of people avoided plastic use as much as possible.

Challenges

  • The Lack of Availability of Treatment Plants
  • The shortage of treatment plants is the major problem faced by plastic waste management. The increasing plastic waste and high capital investment required for setting up a plant are hampering the market growth. The lack of skilled labor to involve in the process of treatment and growing operating costs with fewer profit margins negatively affects the market growth.
  • Requirement of High Capital Investment
  • Increased Operating Costs

Plastic Waste Management Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

4%

Base Year Market Size (2022)

USD 30 Billion

Forecast Year Market Size (2033)

USD 40 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Plastic Waste Management Segmentation

Source (Residential, Commercial, Industrial)

The plastic waste management market is segmented and analyzed for demand and supply by source into residential, commercial, and industrial. Out of these, the residential segment is expected to garner the highest market share by 2033, owing to a high number of residential buildings across the world, rapid urbanization, and a growing population across the world. The United States Census Bureau stated that there were around 142,153,010 housing units in the U.S. as of June 2021.

Our in-depth analysis of the global plastic waste management market includes the following segments:

         By Service

  • Collection
  • Recycling
  • Incineration
  • Landfills
  • Others

        By Polymer

  • Polypropylene
  • Low-density Polyethylene
  • High-density Polyethylene
  • Polyvinyl Chloride
  • Polyurethane
  • Terephthalate
  • Others

        By Source

  • Residential
  • Commercial
  • Industrial

        By End-Use

  • Packaging
  • Textile
  • Consumer Product
  • Transportation
  • Building & Construction
  • Electrical & Electronics
  • Others

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Plastic Waste Management Industry - Regional Synopsis

Asia Pacific Market Forecast

The Asia Pacific region plastic waste management market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033 owing to the generation of large amounts of plastic waste. As per a recent report, it is projected that Asia Pacific would be responsible for approximately 70% of global mismanaged plastic waste by 2025. Further, the high plastic consumption rate in the various countries of the Asia Pacific region is estimated to be another growth factor for the plastic waste management market. In 2019, the estimated volume of plastics used in China amounted to just over 90 million metric tons.

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Companies Dominating the Plastic Waste Management Landscape

top-features-companies
    • Republic Services, Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Biffa plc
    • Waste Management, Inc.
    • SUEZ
    • Covanta Holding Corp.
    • Veolia Environnement SA
    • CLEAN HARBORS, INC.
    • Hitachi Zosen Corporation
    • Stericycle Inc.
    • REMONDIS SE & Co. KG

In-the-news

In The News

  • Republic Services, Inc. and Archaea Energy enters into a partnership to launch RNG facility at Middle Point Landfill through the companies' Lightning Renewables, LLC joint venture.  The project will convert the gas that naturally occurs as the waste into pipeline-quality RNG that can be used alternative to fossil fuels.

  • Biffa plc has successfully acquired Scotland’s only postconsumer plastics recycling facility (PRF) from Green Circle Polymers Ltd. The acquisition enables the company’s plastics to quadruple its plastic recycling capacity by 2030.

Author Credits:  Smruti Ranjan, Rajrani Baghel


  • Report ID: 2770
  • Published Date: Feb 15, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The high production rate of plastic and need of plastic products is expected to generate high amount of plastic waste which in turn is projected to expand the plastic waste management market.

The market is anticipated to attain a CAGR of 4% over the forecast period, i.e., 2023-2033.

The lack of availability of treatment plants along with requirement of high capital investment and increased operating costs are some of the factors that are expected to hamper the market growth.

The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Republic Services, Inc., Biffa plc, Waste Management, Inc., SUEZ, Covanta Holding Corp., Veolia Environnement SA, CLEAN HARBORS, INC., Hitachi Zosen Corporation, Stericycle Inc., REMONDIS SE & Co. KG, and key players.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by service, polymer, source, end-use, and by region.

The residential segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Plastic Waste Management Market Report Scope
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