[FURL=https://www.industryarc.com/Report/15174/plastic-waste-management-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Plastic Waste Management Market[/FURL] size is expected to be valued at US$30.5 billion by the end of the year 2026 and the market is set to grow at a CAGR of 3.05% during the forecast period from 2021-2026. Plastic recycling helps in providing value-added benefits to the plastic by making them less toxic. Recycled plastics can also be used for various sustainable packaging solutions such as bottles, containers, bags, films and other packaging products.Key Takeaways
Asia-Pacific market held the largest share in the plastic waste management market owing to the growing population and increasing disposable income which is leading to the generation of solid waste in countries like India, China and Japan.
The growing commercial spaces such as malls, hospitals, educational institutions, restaurants and others is contributing to the creation of plastic wastes which is, in turn, increasing the opportunities for disposal management and plastic waste management market.
The increase in government initiatives and regulatory body frameworks related to waste management infrastructure is increasing the demand for the plastic waste management market.
Amid the Covid-19 pandemic, the plastic waste management market witnessed a major downfall due to the various restrictions laid down by countries across the globe.
Download Sample Report @ [FURL]www.industryarc.com/pdfdownload.php?id=15174[/FURL]
Plastic Waste Management Market Analysis – By Geography
Asia-Pacific region held the largest share of 35% in the plastic waste management market in the year 2020. The rapid growth of population in countries like India and China is increasing the number of wastes produced in the region. This is further increasing the demand for integrated waste management in the region. According to United Nations ESCAP, economic and social commission for Asia and the pacific, the Asia-Pacific region produces nearly half of the plastics in the world and consumes 38% of it. According to data from World Bank, only 18%-28% of plastics are recycled, the rest of the plastics are gone as waste, which is giving the raise to the need for plastic waste management in the region.
Plastic Waste Management Market Drivers
Increasing initiatives by regulatory bodies and government
Generation of plastic waste
Plastic Waste Management Market Industry Outlook
Major players in the Plastic Waste Management Market are Advanced Environmental Recycling Technologies Inc., Custom Polymers Inc., KW Plastic Inc., Clear Path Recycling, Shanghai Pret Composites Co. Ltd., Republic Services Inc., Reprocessed Plastic Inc., Biffa Plc, 4G Recycling Inc., The WasteCare Group and B.Schoenberg & CO., INC. among others.
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.