The plastic waste management market is projected to grow at a CAGR of 4.2% from 2024 to 2034, with the global market expected to reach approximately $56,874.2 million by 2034, according to Fact MR. The market is experiencing rapid expansion and is anticipated to maintain its growth trajectory in the coming years.

Collaborations among governments, businesses, and non-governmental organizations are driving the development of comprehensive plastic waste management strategies. These partnerships are crucial for tackling the complexities of plastic waste and implementing effective solutions. The rise of international agreements and alliances focused on combating plastic pollution is creating opportunities for standardized approaches to waste management and recycling on a global scale.

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The rise of alternative materials to conventional plastics, including biodegradable plastics and plant-based polymers, is reshaping the plastic waste management landscape. These alternatives offer promising solutions for reducing the environmental impact of plastic products. Advancements in waste collection and sorting technologies, such as robotics and artificial intelligence, are enhancing the efficiency of plastic segregation and boosting recycling rates.

Additionally, technologies that convert plastic waste into fuel, like pyrolysis and gasification, are gaining traction for their potential in energy recovery. The growing movement towards plastic-free and zero-waste initiatives is also influencing consumer preferences and corporate strategies. Companies that embrace plastic-free packaging and zero-waste practices are poised to benefit from these shifting market trends.

Key Takeaways from the Market Study

In 2024, the global plastic waste management market is estimated to have a global market size of US$ 37,691.0 million.
The container and packaging is expected to dominate the market, with a market share of 22.8% in 2034.
The industrial process waste category is expected to hold a market share of 20.7% in 2024.
China is predicted to acquire a 56.9% of the global market share in 2024.
East Asia is expected to account for a CAGR of 4.6% by 2034.
“Continued advancements in chemical and mechanical recycling technologies are expanding the possibilities for recycling a broader range of plastics. The technologies aim to address challenges associated with traditional recycling methods,” says a Fact.MR analyst.

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Key Companies Profiled in This Report

Veolia Environment
Waste Connections Inc.
Covanta Holding Corporation
Stericycle
SUEZ
Waste Management Inc.
Clean Harbors
Remondis SE
Biffa
Republic Services
Competitive Landscape

The plastic waste management market is significantly influenced by regulatory compliance, which is crucial for gaining a competitive edge. Adapting to evolving market dynamics and staying updated with technological advancements are key for sustained success in this sector.

Recent Developments

In 2022, Biffa was appointed as the official waste management and recycling partner for the Commonwealth Games in Birmingham, set to take place in July 2022.
In 2020, Biffa entered into a major agreement with Esterform Packaging, the UK’s leading bottle manufacturer, securing a multi-million-pound, one-year partnership for recycled plastic.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global plastic waste management market, presenting historical analysis from 2019 to 2023 and forecast statistics for the period of 2024 to 2034.

The study reveals essential insights based on plastic waste management market analysis by by source of waste collection (container and packaging, construction, electric and electronic component, industrial process waste, automotive scrapyard, household and municipal waste, others), and by region (North America, Latin America, Europe, East Asia, South Asia and Oceania, and Middle East & Africa).

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