Increasing demand for high-quality plastic materials from the automobile sector is a key factor driving market revenue growth
The Europe Plastic Waste Management Market size is expected to reach USD 47.76 billion in 2028 and register a revenue CAGR of 4.3% over the forecast period, according to the latest report by Reports and Data. Growing demand for plastics from household and commercial sectors is a key factor driving market revenue growth. Plastic is an essential part of everyday life, and most of the things consumed are being made of or packaged in plastic materials. Plastic waste is non-biodegradable and can cause widespread environmental disasters. The whole world produces large amounts of plastic waste, which comes from households and industrial sectors such as electronics, packaging, automobiles, agriculture, and construction. Technological advancements and emergence of novel systems for sorting, reprocessing, and collecting recyclable plastics are opening new options in connection with public health, economic, conservation, and industrial policies. Some factors such as rapid urbanization, industrialization, and increasing awareness of environmental hazards are driving market revenue growth.
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Key Companies in the market include: Veolia Environnement S.A., Waste Management, Inc., SUEZ, Republic Services, Clean Harbors, Inc., Biffa plc, Covanta Holding Corporation, Stericycle, Inc., Remondis SE & Co. KG, and ADS Waste Holdings, Inc.
Some Key Highlights From the Report
- Polystyrene (PS) segment is expected to register significant revenue growth rate over the forecast period. PS is used in a variety of applications such as cutlery, packaging, toys, housewares, containers, and others. It has better gamma radiation resistance and moisture resistance properties. It can also resist the growth of bacteria and can be recycled. PS is lightweight and can be easily turned to various shapes. It is a common plastic material that is used in everyday items.
- Polyvinyl chloride (PVC) segment is expected to account for significant revenue share over the forecast period. PVC is used in many end-use industries, including electrical and electronics, construction, and automotive. PVC has friction and moisture resistance properties that are suitable for various applications, including cables and wires, windows, toys, raincoats, pipes, and many technical, as well as household products.
- Recycling segment is expected to account for larger revenue share in the Europe Plastic Waste Management Market over the forecast period. Recycling is an effective alternative to saving the environment. By adopting this service, a company can contribute to the society. Segregation is done before the recycling process. Recycling presents benefits such as energy saving, raw material conservation, and solving environmental problems. Due to the introduction of innovative technology, recycling process has become more affordable and manageable.
- Residential segment is expected to register a rapid growth rate in terms of revenue over the forecast period. Plastic is an important element in the daily life and is widely used for household purposes. Lifestyle changes, rapid population growth, rising disposable income resulted in increasing usage of plastics in the residential sector.
- Packaging segment is expected to register a significant revenue growth rate over the forecast period. Bottles, plastic containers, films, bags, and other packaging products are some commonly used products in this segment. Recycled plastic can be a good alternative to packaging because it can not only reduce the level of pollution, but also lower additional costs of companies.
- Market in Europe is expected to contribute to significant revenue share over the forecast period, owing to imposition of strict regulations by European authorities. Adoption of ‘The European Green Deal’ and ‘Circular Economy Action Plan’ is anticipated to affect market revenue growth in this region positively. European Green Deal, for instance, provides a road map to restore biodiversity, reduce pollution, and expand the circular economy.
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Market Segmentation:
Polymer Type Outlook (Revenue, USD Billion; 2018-2028)
- Polypropylene (PP)
- Polyurethane (PUR)
- Polystyrene (PS)
- Polyethylene Terephthalate (PET)
- Polyvinyl Chloride (PVC)
- High-Density Polyethylene (HDPE)
- Low-Density Polyethylene (LDPE)
Service Outlook (Revenue, USD Billion; 2018-2028)
- Collection
- Incineration
- Recycling
- Landfill
- Others
Source Outlook (Revenue, USD Billion; 2018-2028)
- Residential
- Commercial
- Industrial
- Others
Application Outlook (Revenue, USD Billion; 2018-2028)
- Packaging
- Building & Construction
- Textile
- Automobile
- Furniture
- Others
Regional Outlook:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Key questions covered in the global Europe Plastic Waste Management Market report:
- What is the expected market size of the global Europe Plastic Waste Management Market during the forecast period?
- What factors are expected to hamper global Europe Plastic Waste Management Market growth over the forecast period?
- Which application segment is expected to dominate other application segments over the forecast period?
- Which region is expected to dominate in terms of revenue during the forecast period?
- What are the key outcomes of Porter’s Five Forces analysis and SWOT analysis?
- Which leading players are operating in the global Europe Plastic Waste Management Market?
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