Plastic Waste Management Market Trends

Growth Drivers

Rapid Production of Plastic Goods Throughout the World – The plastic waste management market is anticipated to significantly grow owing to the high utilization of plastic in a wide range of applications. Increasing usage of plastic generates plastic waste, which is non-degradable and is responsible for significant greenhouse gas emissions that can lead to huge ecological crises. Therefore, the growing need for proper disposal management of plastic waste is anticipated to drive the market over the forecast period. As per the latest reports by Organization for Economic Co-operation and Development, it was estimated that tlobal plastic production rose from 2000 to 2019 and stood up at approximately 460 million tons.
High Demand for Plastic Products Owing to Rising Use in Every Packaging – The recent data disclosed in 2022, around one million plastic bottles are purchased every minute and around five trillion plastic bags are used every year across the world.
Growth in Waste Generation with Increasing Fast-Food Centers, Beverages, and Other Product Manufacturing – As per a report published in 2022, it was estimated that 300 million tons of plastic waste are produced every year. Further, plastic wastage generation is growing at an annual rate of 9%.
Rising Concern of Plastic Recyclability Among People – Recent report published in 2022, anticipated that around 90% of plastic is not recycled.
Increasing Environmental Concern and Rising Awareness Among People on Eco-Friendly Products – As per a survey conducted in 2019, about 33% of people chose sustainable products, 35% of them looked for eco-friendly packaging, and over 405 of people avoided plastic use as much as possible.

Challenges

The Lack of Availability of Treatment Plants
The shortage of treatment plants is the major problem faced by plastic waste management. The increasing plastic waste and high capital investment required for setting up a plant are hampering the market growth. The lack of skilled labor to involve in the process of treatment and growing operating costs with fewer profit margins negatively affects the market growth.
Requirement of High Capital Investment
Increased Operating Costs

Plastic Waste Management Market: Key Insights

Base Year	2024
Forecast Year	2025-2037
CAGR	4.2%
Base Year Market Size (2024)	USD 32.7 billion
Forecast Year Market Size (2037)	USD 54.86 billion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of plastic waste management is assessed at USD 33.77 billion.

The plastic waste management market size was over USD 32.7 billion in 2024 and is likely to reach USD 54.86 billion by the end of 2037, growing at around 4.2% CAGR during the forecast period i.e., between 2025-2037. The high production rate of plastic and need of plastic products is expected to generate high amount of plastic waste will impel the market growth.

Asia Pacific industry is expected to hold largest revenue share by 2037, propelled by generation of large amounts of plastic waste in the region.

The major players in the market include Republic Services, Inc., Biffa plc, Waste Management, Inc., SUEZ, Covanta Holding Corp., Veolia Environnement SA, CLEAN HARBORS, INC., Hitachi Zosen Corporation, Stericycle Inc., REMONDIS SE & Co. KG.

Plastic Waste Management Market Trends