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 dominated the market and accounted for 15.5% of overall market share in 2022. This region is further predicted to experience significant increase in the coming years due to growing awareness of the need to reduce carbon footprint brought on by rising plastic waste. The United States, which exports the majority of its garbage to other nations for recycling or disposal, is one of the largest contributors in the region. The numerous initiatives and stringent regulations imposed by governments on plastic waste disposal management are further projected to aid in future market expansion for this region.

Asia Pacific is the fastest growing region at a CAGR of 4.1% during the forecast period. The necessity for this kind of waste management for plastics in Asia Pacific is being fueled by rising per capita plastic trash creation as well as growing urbanisation and industrialisation. With a share of more than 60%, China is the country that contributes the most to the production of plastic waste. During the projected period, India is anticipated to attract significant revenues at the quickest rate in the regional market. Strict environmental regulations and high plastic trash collection rates are propelling the expansion of the plastic waste management market in developed nations such as Japan, South Korea, Australia, and New Zealand. However, inadequate collection and management of waste and the development of a "throw away culture" pose significant obstacles to the market's expansion in Asia Pacific's developing nations.