Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor Plastic Waste Management Market Research Report - | Page 2

Plastic has become one of the vital partss of day to day life with most of the products
consumed are either manufactured or packaged in a plastic material. Plastic waste is non-
degradable and can lead to huge ecological crises. The whole world generates a large
amount of plastic waste, in which household and industries waste such as, packaging,
automobile, electronics, construction and agriculture contributes the most. Advanced
technologies and systems used for the reprocessing, sorting, and collection of recyclable
plastics are creating new opportunities in accordance with the principles of public health,
industrial, economics, and preservation. Factors such as increasing urbanization,
industrialization, and growing awareness regarding the environmental hazards propelling
the growth of the global plastic waste management market. Numerous laws & regulations
imposed by the governments act as a major growth driver of the market. Additionally,
government initiatives for recycling plastic materials and the growing concern regarding
the plastic waste disposing are driving the market.
Recycling of the plastic is principal need of the society as it not only safeguards energy
recovery but also diminishes the carbon footprint. Each ton of plastic, which is recycled,
about seven yards of the land can be conserved from landfills and almost 80% of energy
can be preserved for the production of brand new plastic material. Plastic is fairly cheap
and versatile, recycled plastic is utilized to manufacture a large range of the products such
as, carpets, garbage bags, cloths, films, bottles and containers. This recycling process for
plastic is augmented to propel the plastic waste management market over the forecast
period.
Regional Analysis:
The plastic waste management program is widely practiced in North America and Europe
owing to supportive regulations and rising awareness among the population regarding
hazards related to plastic waste. Enhanced recycling rate is expected provide an ideal
opportunity to new emerging economies activities and create new jobs across the globe.
Moreover, it is expected to offer improved plastic waste management system and reduce
consumption of fossil fuels as well as diminish greenhouse gas emissions.
Market Segmentation
Global plastic waste management market is segmented based on service & equipment,
polymer, source and end-user sector and region. Based on the service & equipment, the
market is segmented into collection, recycling, incineration, and disposal. The recycling is
anticipated to dominate the plastic waste management market over the review period
2017-2023. The numerous advantages of recycling with growing government initiative to
promote recycling is driving the growth of this segment. Based on the polymer, the market
is further segmented into polypropylene (PP), low-density polyethylene (LDPE), high-
density polyethylene (HDPE), polyvinyl chloride (PVC), and others. Polypropylene