Plastic Waste Management Market Size, Share, Growth Analysis, By Service(Collection, Recycling, Incineration, Landfills.), By Polymer(Polypropylene (PP), Low-density Polyethylene (LDPE), High-density Polyethylene (HDPE), Polyvinyl Chloride (PVC)), By Source(Residential, Commercial, Industrial), By End Use(Packaging, Textile, Consumer Product, Transportation), By Region - Industry Forecast 2024-2031

North America, with 15.5% of the global market share in 2023, sat at the top. It is expected that this region would witness significant growth in the coming years, considering the growing awareness about plastic waste and the requirement to reduce carbon footprint. The largest market contributors in the region comprise the US that are exporting most of their wastes to other countries for recycling or disposal. Government initiatives and strict laws on the management of the disposal of plastic waste facilitate further market progress in this region. Thus, North America led the plastic waste management market. 

Asia-Pacific is the region that has the fastest rate of growth; based on estimates, its CAGR over the forecast period will be 4.1%. Asia Pacific is gradually in high demand for this kind of plastic waste management as a result of rapid urbanization and industrialization, with an increase in the quantity of plastic trash generated per capita. China generates the highest amount of plastic garbage accounting for around 60%. In the regional market, India is expected to generate substantial revenues at the fastest rate during the estimated period. Strict environmental laws and very high rates of plastic garbage collection are boosting the growth of the plastic waste management industry in industrialized countries such as South Korea, Australia, New Zealand, Japan, and South Korea. However, an emergent "throw away culture" and inadequate garbage collection and management remain an immense challenge to the growth of the market in Asia Pacific's emerging countries.