About Plastic Waste Management
Plastic waste management refers to the process of recycling, disposal, processing of plastic waste to reprocess them into useful products. Growing concerns regarding plastic waste management owing to the non-degradability of plastic driving the demand for new plastic waste management techniques. Further, governments are focusing on regulating plastic waste owing to growing environmental concerns. In addition, rising demand for waste management from developing countries such as India, China, and others expected to drive the demand for plastic waste management market over the forecasted period.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Analyst at AMA Research estimates that India Manufacturers will contribute the maximum growth to Asia-Pacific Plastic Waste Management market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
REPLAS (Australia), Shanghai Pret Composites Co., Ltd. (China), Hitech Recycling Pvt. Ltd. (India), Waste Ventures India (India), The Shakti Plastic Industries (India), Samki Group of Companies (India), SKY CORPORATION (Japan), Transco Japan Co., Ltd. (Japan), KK Plastic Waste Management (India) and Plastic Recyclers Australia PTY Ltd. (Australia) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Astron Plastics Limited (New Zealand), JK Plastics Pty Ltd (Australia) and YCA Recycling (Australia).
Segmentation Overview
AMA Research has segmented the market of Asia-Pacific Plastic Waste Management market by Type (Landfill, Recycle and Incineration), Application (Plastic Waste, Heat Energy Generation, Recycled Plastics and Others) and Region.
On the basis of geography, the market of Plastic Waste Management has been segmented into Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific). If we see Market by Resin, the sub-segment i.e. Thermosetting [Polyurethane, Epoxy, Polyester, Others] will boost the Plastic Waste Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Nature of Service, the sub-segment i.e. Disposal will boost the Plastic Waste Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source of Waste Collection, the sub-segment i.e. Containers & Packaging will boost the Plastic Waste Management market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Advancement in the Plastic Waste Management Techniques and Rising Application for the Industrial Plastic Waste Management
Market Growth Drivers:
Changing Customer Preference from Conventional Plastic to Recycled Plastic and Growing Government Initiates Towards Plastic Waste Management
Challenges:
Lack of Acceptance in the Low and Middle Income Group Countries
Restraints:
Stringent Government Regulations Regarding Plastic Waste Management
Opportunities:
Increasing Demand for Recycled Plastic and Rising Demand from the Developing Economies
According to the Ministry of Environment India, Forest and Climate Change have notified the Plastic Waste Management Rules 2018 on March 27, 2018. The amended Rules lay down that the phasing out of Multilayered Plastic is now applicable to MLP, which are "non-recyclable, or non-energy recoverable, or with no alternate use. The Rules also lay down that any mechanism for the registration should be automated and should take into account ease of doing business for producers, recyclers and manufacturers. The centralized registration system will be evolved by the Central Pollution Control Board for the registration of the producer/importer/brand owner. While a national registry has been prescribed for producers with presence in more than two states, a state-level registration has been prescribed for smaller producers/brand owners operating within one or two states. In addition, Rule 15 of the Plastic Waste Management Rules 2018 on "explicit pricing of carry bags" has been omitted.”
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.