(MENAFN- EIN Presswire) EINPresswire/ -- Allied Market Research published a report titled“ Plastic Waste Management Market Size, Share, Competitive Landscape and Trend Analysis Report, by Methods of Waste Management (Recycling, Incineration/Combustion, Disposal, Composting), by Source (Residential, Industrial), by Material (PET (Polyethylene Terephthalate), HDPE (High-density Polyethylene Plastics), LDPE (Low-density Polyethylene), PP (Polypropylene)) and, by End-User Industry (Packaging Industry, Textile Clothing Industry, Automotive Industry, Construction Industry, Other Industries): Global Opportunity Analysis and Industry Forecast, 2023-2032.” The report offers a detailed analysis of changing market dynamics, key segments, value chain, competitive landscape, top investment pockets, and regional scenario.

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The research provides an extensive analysis of driving factors, restraints, and opportunities of the global Pension Funds market. These insights are helpful in availing insights about drivers, determine strategies, and implementing necessary steps to avail a competitive advantage and sustainable growth. Moreover, market players, investors, and startups can determine new opportunities, exploit the market potential, and achieve competitive edge.

The global use of plastics has surged rapidly in recent years. Plastics take decades to decompose, and improper disposal can severely impact the environment, causing issues such as water pollution. Industries across the world use plastics in a variety of applications, including bottle manufacturing and packaging. With increasing government regulations on waste management, it has become imperative for companies to manage plastic waste effectively. Commonly used plastics include Polystyrene (PS), Polypropylene (PP), Polyvinyl Chloride (PVC), and Polyethylene Terephthalate (PET), which find applications in construction, textiles, packaging, and other industries.

COVID-19 Scenario Analysis
The COVID-19 pandemic led to a slowdown in demand for plastic waste management in 2020 due to reduced activity in manufacturing, construction, and packaging industries. Prolonged lockdowns in major global markets disrupted production and affected the sales of equipment and machinery. Key markets such as the U.S., Germany, Italy, the UK, and China were severely impacted, halting demand for plastic waste management solutions. The financial recovery of companies largely depends on available cash reserves, and many manufacturers had to adjust investment plans during the pandemic. Companies had to focus on safeguarding their workforce, operations, and supply chains while exploring new ways to operate post-COVID-19.

Market Drivers, Trends, and Opportunities
Plastic waste management is increasingly critical due to rising plastic pollution. Plastics can take up to 400 years to degrade, threatening ecosystems, wildlife, and human health. In less developed regions, plastic waste often ends up in oceans or rivers, endangering marine life. Global initiatives, such as the formation of the Global Alliance to End Plastic Waste in January 2019, aim to collect, process, recycle, and reuse discarded plastic. Innovative solutions, including mobile applications for waste management, are gaining traction, enabling companies and consumers to track recyclable materials efficiently.

New Product Launches to Boost the Market
New product launches are driving market growth. For example, in November 2019, SUEZ introduced a mobile application that allows users to scan packaging barcodes to determine recyclability and appropriate sorting methods. Such innovations are improving the efficiency of plastic waste management operations and promoting sustainability.

Restraints
Regulatory changes can pose challenges to market growth. In April 2019, the European Union introduced legislation to ban all single-use plastics that cannot be recycled starting in 2021, excluding plastic bottles. Similarly, initiatives such as India's Swachh Bharat Abhiyan, launched in October 2019, restrict the use of non-recyclable single-use plastics and have banned plastic bottles in government meetings. These measures, while environmentally necessary, could restrain market growth.

Key Benefits of the Report
Provides an analytical overview of the global plastic waste management market, including current trends and future projections to identify investment opportunities.

Offers detailed insights into market drivers, restraints, and opportunities.

Quantitative analysis highlights market growth and potential.

Includes Porter's Five Forces analysis to evaluate the strength of buyers and suppliers.

Presents a competitive analysis, examining how market dynamics are expected to shape competition in the coming years.

Plastic Waste Management Market Highlights
By Methods of Waste Management
Recycling

Incineration/Combustion

Disposal

Composting

By Source
Residential

Industrial

By Material
PET (Polyethylene Terephthalate)

HDPE (High-Density Polyethylene)

LDPE (Low-Density Polyethylene)

PP (Polypropylene)

By End-User Industry
Packaging Industry

Textile & Clothing Industry

Automotive Industry

Construction Industry

Other Industries

By Region
North America (US, Canada)

Europe (Germany, UK, France, Rest of Europe)

Asia-Pacific (China, Japan, India, Rest of Asia-Pacific)

Latin America (Brazil, Mexico, Rest of LATAM)

Middle East

Africa

Key Market Players
Kuusakoski Group

United Plastic Recycling

Hawkvale Limited

Hermion BV

PLASgran Ltd.

TM Recycling GmbH

Luxus Limited

Renova, Inc.

Think Plastics Inc.

Hahn Plastics Limited

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