The plastic waste management market size is projected to grow from USD 32.6 billion in 2019 to USD 37.9 billion by 2024, recording a CAGR of 3.1% during the forecast period. Factors such as economic growth, increasing urbanization, industrialization, and changing lifestyles of people have raised the levels of plastic waste generation, which has resulted in an increasing threat to the environment. The awareness about plastic waste management has increased significantly with the progress in consumer education and rising awareness about health & environment. The growing population and the growing income levels of people have generated new opportunities for the plastic waste management industry.

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In terms of volume, the landfills segment is projected to lead the plastic waste management market from 2019 to 2024.
Based on service, the landfills segment is projected to dominate the plastic waste management market, in terms of volume, from 2019 to 2024. Presence of less number of recycling plants and incinerators leads to mismanagement of waste, contributing to the rise in plastic waste disposals and landfills.

In terms of value, the packaging segment in the recycled plastic waste market is projected to grow at the highest CAGR during the forecast period.
Based on the end-use application, the packaging segment in the recycled plastic waste market is projected to grow at the highest CAGR, in terms of value, during the forecast period. Various benefits of recycled plastics (such as reduction of pollution and lesser dependence on fossil fuels) and its wide application in sustainable packaging solutions (such as containers, bottles, bags, films, and other protective packaging products) drive its demand.

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In terms of value, the Asia Pacific plastic waste management market is projected to grow at the highest CAGR during the forecast period.
The Asia Pacific plastic waste management industry is projected to grow at the highest CAGR from 2019 to 2024, in terms of value. The growing population, rising GDP, and increasing disposable income in Asia Pacific are leading to the generation of more solid waste (including plastic waste), which, in turn, is creating opportunities for the market in the region. Infrastructural development in under-developed and developing countries of Asia Pacific is driving the growth of various methods of plastic waste management in this region.

Key Market Players
Veolia Environnement (France), SUEZ (France), Waste Management, Inc. (US), Republic Services (US), Waste Connections Inc (Canada), Clean Harbors (US), Biffa (UK), Covanta Holding Corporation (US), Stericycle (US), and Remondis SE & Co. KG (Germany) are the key players operating in the plastic waste management market.