Global Plastic Waste Management Market:
Plastic is an important part of day to day life. Thus, a large amount of plastic waste is generated globally; most of which comes from industries such as electronics, construction, packaging, automobile & agriculture, and from households. Plastic waste is not an environmental problem, it is an opportunity to maintain circular economy.
The Global Plastic Waste Management Market is growing with the rapid pace; mainly due to the supportive government regulations and policies. Most of the government bodies under the scheme “Reduce, Reuse, & Recycle” to emphasize conservation of natural resources and reduce pollution. Moreover, factors such as increasing urban population, industrialization, and growing awareness on environmental hazards is pushing the growth of the global plastic waste management market. Additionally, growing awareness among the consumers regarding the plastic waste management also has the positive influence on the growth of the market. However, the factors such as the lack proper infrastructure and low participation of waste generators in waste management may hinder the growth of this industry.
According to a recent study report published by the Market Research Future, The global market of Plastic Waste Management is booming and expected to gain prominence over the forecast period. The Global Plastic Waste Management market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value during the estimated period (2017 – 2023).
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Key Players of Global Plastic Waste Management Market Are:
Veolia Environnement S.A. (France), SUEZ Environnement Company (France), Waste Management Inc. (U.S.), Republic Services Inc. (U.S.), Stericycle Inc. (U.S.), ADS Waste Holdings, Inc. (U.S.), Remondis SE & Co. KG (Germany), Clean Harbors Inc. (U.S.), Hawkvale Limited (UK) and Hahn Plastics Limited (UK) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Plastic Waste Management Market.
Segmentation of Plastic Waste Management Market:
By Service: Assembly and Recycling
By Polymer Type: PP, LDPE, HDPE, PVC and others
By End User: Packaging, Construction & Textile, Automobile, and Others
by Regions: Comprises Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
Competitive Analysis of Plastic Waste Management Global Market:
Characterized by the presence of several well-established and small players, the global Market of Plastic Waste Management appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, and expansion, in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, and services. Vendors operating in the market strive to deliver the best services based on innovative technologies, and best practices. Plastic Waste Management market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.
Industry News
In November 2017, Suez announced has plans to produce high-quality circular polymers together with chemicals company and plastics manufacturer LyondellBasell. Under this agreement, LyondellBasell will be a 50/50 partner with Suez in Quality Circular Polymers (QCP), which is a “high standard plastic recovering company” located in Sittard-Geleen near Maastricht in the Netherlands.
In August 2017, Flight Plastics Ltd. A part of Flight Group Ltd., spent USD 8.8 million on a full upgrade at its facility, including a wash plant for PET bottles. The wash plant and other work at the facility enables Flight Plastic to produce thermoformed packaging from recycled PET bottles. USD 2.9 million (NZ $4 million) of the total was a grant from the New Zealand government’s Waste Minimization Fund, which supports projects that reduce environmental harm.
In July 2017, Veolia UK, environmental services firm has acquired the manufacturing assets of East London plastic bottle recycling firm, Closed Loop Recycling, in Dagenham, East London.
In July 2017, plastic recyclinng firm, Vanden Recycling, has opened a new plastic processing facility in Whittlesey, Cambridgeshire a part of its UK expansion plans. The new facility has been equipped with shredding, granulation and baling equipment and has a front-end material inspection and preparation area. The plant also has the flexibility to handle multiple plastic streams such as ABS, HDPE, LDPE, PC, PET, PMMA, PP PS and PVC and to quickly alternate plant set up between different customer requirements.
In June 2016, SUEZ has completed the acquisition of Perthwaste, provides waste management services to metropolitan Perth and the south west of Western Australia. The company has a large and well established customer base across local government and commercial markets. The acquisition is completed at the value of AU$ 87 million
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Regional Analysis of Plastic Waste Management Market:
Besides, plastic waste management being well established in North America & Europe, the rise in the number of government regulations on waste management in the region, especially for the food & beverages industry, drives the plastic waste management market in the developed region like the U.S. Recycling of plastic is prime need of society because it not only ensures energy recovery but also reduces carbon footprint.
Asia-Pacific is also the major market for plastic waste management. Increasing disposable incomes of people in developing countries and changing preferences of manufacturers for cost-efficient packaging are some of the factors that are driving the plastic waste management market.
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