The global Plastic Waste Management Market size is projected to reach USD 41.58 billion by 2027, exhibiting a CAGR of 3.1% during the forecast period.
Unchecked plastic pollution levels during the COVID-19 pandemic is expected to create unique growth opportunities for the market, suggests Fortune Business Insights™ in its report, titled “Plastic Waste Management Market Size, Share & Industry Analysis, By Source (Industrial Waste and Municipal Waste), By Material (Polyethylene, Polypropylene, Polyethylene Terephthalate, Polystyrene and Others), By Product Type (Packaging, Construction, Automotive, Electrical & Electronics and Others), By Treatment Method (Collection, Recycling and Disposal {Landfilling & Incineration}) and Regional Forecast, 2020-2027”.The COVID-19 outbreak has triggered a race for production personal protective equipment (PPE), which are mostly made from plastic.
However, their sustainable disposal, especially the disposal of single-use plastic, has sparked fears among environmentalists and academicians as PPE contain large amounts of micro-plastics.
For example, the World Wide Fund estimates that if just 1% of the 1 billion masks used in Italy every month are discarded improperly, it could lead to accumulation of 10 million plastic masks in environment, causing unprecedented pollution.
However, owing to supply chain disruptions, the market growth will be moderate for the present year.List of Players Profiled in the Plastic Waste Management Market Research Report are:Envac Group (Sweden)Recology (USA)Stericycle Inc. (USA) Remondis AG & Co. Kg (Germany)Covanta Holdings Corporation (USA)Biffa PLC (U.K.)SUEZ Group (France)TANA Oy (Finland)ALBA Group (Germany)Republic Services Inc. (USA)Hitachi Zosen Corporation (Japan)Clean Harbors Inc. (USA)Veolia Environment S.A. (France)Waste Management Inc. (USA)Gain More Insights into the Plastic Waste Management Industry Research Report https://www.fortunebusinessinsights.com/plastic-waste-management-market-103063Market DriverProactive Initiatives by Governments to End Plastic Pollution to Boost the MarketGovernments worldwide are taking decisive steps to curb the menace of plastic pollution, which is likely to stoke the plastic waste management market growth in the coming years.
In the US, cities such as San Diego are actively prohibiting the use of Styrofoam, a commonly used plastic in disposable dishes, spoons, and forks.