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

containers. This recycling process for plastic is augmented to propel the
plastic waste management market over the forecast period.
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.
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 dominated the market in 2016 and is projected to be the
fastest-growing polymer segment in the global plastic waste
management market. Polypropylene holds the largest share of the global
plastic market due to high availability and cheap cost. Based on the
source, the market is segmented into residential, commercial and
industrial. Residential segment dominated the product segment in 2016
and is expected to witness a phenomenal growth over the forecast
period. The dominant position of the segment is due to the rise in
urbanization coupled with residential waste. Based on the end-use
sector, the market is segmented into packaging, building & construction,
textile & clothing, automobile, and others. The packaging segment
dominated market with the highest share in 2016 and is expected to
grow at the highest CAGR over the forecast period 2017-2023 due to a
wide range of application of the plastic material in the packaging sector,
which needs to recycle further after primary application.
The global plastic waste management market is highly fragmented with
numerous international, regional, and local vendors. The competition
among the manufacturers have recently intensified due to availability
and introduction of innovative products in the market. Also, the
competition among the manufactures have increased in terms of
portfolio and pricing. The global plastic waste management market is
expected to witness a number of the expansion activities over the
forecast period and is likely to be followed by the launch of new products
or new product development.
The global plastic waste management market is expected to grow
at a CAGR of ~3% during the forecast period.
Market Segmentation