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).

Growing industrialization, urbanization, and concerns related to the environmental impacts of improper plastic waste management are expected to propel the market during the forecast period. As governments, companies, and end users grow more aware of the environmental issues, minimizing the environmental impact of plastic waste is increasingly important. The demand for sustainable plastic throwaway solutions by plastic packaging manufacturers is fueling the industry. In addition, with the emerging global importance given to circular economy concepts, there is a growing demand for plastic waste management services across the globe. Circular economic models support the reuse and recycling of plastic material, which helps to minimize waste generation and preserve natural resources. Global businesses are adopting circular economic models and investing in advanced recycling technologies to efficiently recycle, sort, and manage plastic wastes. Increased reliance on finite resources and integration of sustainable development goals are forcing a shift towards circular economy, which in turn is leading to the transformation of the sustainable value chain for recyclable plastic. Increasing standards of living in emerging economies have, therefore, increased plastic consumption in packaging. Plastic waste hence poses severe threats to the ecosystem and life among humans and animals. The main cause of plastic pollution is improper disposal of plastic garbage, especially in developing countries. During the forecast period, increased plastic production and an increased awareness regarding treatment of plastic waste are predicted to unlock new avenues for the plastic waste management sector, thus driving the market forward during the forecast period.

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