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By lowering the toxicity of plastic, the recycling process contributes to its value-added benefits. Recycled plastics can also be used to manufacture eco-friendly bottles, containers, bags, films, and other packaging products. Recycling waste materials and recovering waste plastics is becoming more popular due to the numerous benefits associated with it, such as reduced trash transportation to landfills and incinerators, preservation of natural resources, and pollution prevention.
North America Plastic Waste Management Market Report Scope and Research Methodology:
In simple terms, the market research contains business statistics and analytical insights to offer a complete overview of the market size, market share, growth, trend, demand, top player and industry profile, opportunities, value cycle, end-users, types, and application. The research also contains micro market growth possibilities for stakeholders to invest in, as well as a full analysis of the competitive environment and important competitors' product offerings. The research also offers an in-depth study of the industry's top players, as well as their financial standing in the North America Plastic Waste Management market.
The qualitative and quantitative data supplied in a market study assists decision-makers in understanding the market's influencing aspects and major opportunities. SWOT analysis was done to determine the North America Plastic Waste Management market's strengths and weaknesses.
North America Plastic Waste Management Market Overview:
Stellar Market Research's report on the North America Plastic Waste Management Market is based on extensive primary and secondary research. The market research North America Plastic Waste Management Market gives a thorough examination of ever-changing trends, the industrial environment, and all of the market's key elements. To analyse the data and deliver reliable and error-free results, various approaches are applied.
North America Plastic Waste Management Market Size was valued at USD 10 billion in 2021 and the market size is projected to grow at a CAGR of 4 % over the forecast period.
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North America Plastic Waste Management Market Dynamics:
North America was the market's second-largest revenue contributor. The region has a well-established market for collection and treatment. The key growth driver in the North American market is the substantial presence of solid waste management companies and their distribution network. In 2021, the United States owned the largest share of the region, and the region is predicted to increase at a 4.4% annual rate during the projection period. The United States is a leading producer of plastic waste in the world. Despite higher collection rates, the US plastic recycling rate is just around 10-12%.
North America Plastic Waste Management Market Regional Analysis
The report has been segmented into many key countries, including market size, CAGR, import and export of North America Plastic Waste Management market in the different countries mentioned in the report. The regions and their countries studied are:
North America- U.S., Canada, Mexico,
Europe- UK, Germany, France, Spain, Rest of Europe,
Asia Pacific- China, India, Japan, Australia, South Korea, Asian Countries, Rest of APAC,
South America- Brazil
Middle East and Africa.
North America Plastic Waste Management Market Segmentation:
Based on service, the market for plastic waste management is classified into four major categories: collection, recycling, burning, and landfills. Because of rigorous government regulations and a significant growth in recycling infrastructure, the recycling category is predicted to grow at the fastest pace of 5.9% during the forecast period. Cloths, rugs, rubbish bags, films, containers, and bottles are just a few examples of recycled plastic items.
Collection is the most crucial and also the most difficult service. Plastic waste management market participants offer residential, commercial, and industrial plastic garbage collection services. These services are offered on one- to five-year contracts or via subscription, with the customer contacting the service providers directly. Prior
The packaging end-use category is predicted to be the largest and fastest-growing segment during the projection period. Plastics for product packaging to protect, store, transport, and show information accounted for 20.9% of the overall market share in 2021, owing to increased demand.
The textile industry is predicted to grow significantly due to the increasing usage of plastics in textile mills for templates, work surfaces, looms, tenter frames, and other miscellaneous components. Plastic bottle waste is also utilised to create polyester yarn, which is subsequently used to create eco-friendly clothing.
Polypropylene (PP) is predicted to develop at the fastest CAGR of 4.7% throughout the forecast period due to its remarkable features such as high chemical resistance, fatigue resistance, and weldability. Polypropylene is widely available, inexpensive, and flexible to a wide range of manufacturing techniques, making it ideal for both residential and industrial applications.
Low-density polyethylene (LDPE) provided 19.8% of the entire market share in 2021 due to its recycling capacity. Flexible and thin LDPE goods include bags, container lids, toys, shrink-wrap and stretch film, and squeezable bottles. Recycled LDPE is used to make floor tiles, garbage can liners, furniture, panelling, compost bins, and trashcans.
According to the source, the plastic waste management market is segmented into three categories: residential, commercial, and industrial. The residential segment is likely to dominate the market and grow at a significant pace of 3.5% over the forecast period due to increased population and fast urbanisation.
Plastics are an essential element of daily living and are frequently used in domestic applications. Changing lifestyles, expanding population, and increased disposable income have all contributed to an increase in the usage of plastics in the residential sector, resulting in a considerable volume of waste that must be disposed of.
North America Plastic Waste Management Market Key Players:
Waste Management (U.S)
Waste Connection (US)
GFL Environmental (Canada)
Clean Harbors (US)
Casella Waste System (US)
Republic Services(US)
Key Questions answered in the North America Plastic Waste Management Market Report are:
Key offerings:
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About Stellar Market Research
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