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

Global Plastic Waste Management Market was valued at USD 36.03 billion in 2022, and is expected to rise from USD 37.26 billion in 2023 to reach a value of USD 48.68 billion by 2031, at a CAGR of more than 3.40% during the forecast period (2024–2031).

Over the projected period, the market is expected to be driven by rapid industrialization, expanding urbanisation, and growing concern over the environmental effects of incorrect plastic waste management. The market for plastic is expanding significantly as a result of its distinct qualities and diverse range of uses. Plastic garbage, which is non-biodegradable and contributes significantly to greenhouse gas emissions that might trigger severe ecological catastrophes, is being produced as a result of increased plastic use. Therefore, it is predicted that throughout the course of the forecast period, the market will be driven by the growing requirement for appropriate management of plastic waste disposal. One of the nations that produces the most plastic waste is the United States. Compared to the total amount of plastic garbage produced in the nation, the recycling rate for plastic is quite low. The majority of the plastic garbage produced in the United States is exported to other nations to be recycled, processed to provide energy, or dumped in landfills.

In order to prevent plastic trash from polluting the environment, it is reprocessed rather than dumped into landfills, waterways, or in any other way left out in the open. Reduced usage of virgin plastic in product manufacturing is the main element encouraging plastic waste management. New opportunities are being created in the market for the management of plastic waste as a result of advanced technologies and frameworks used for the reprocessing, organising, and collection of recyclable plastics. Furthermore, throughout the course of the forecast period, the market is expected to be driven by laws and regulations that are imposed by governments and relevant organisations worldwide for the management of plastic waste disposal.

US Plastic Waste Management Market is poised to grow at a sustainable CAGR for the next forecast year.