The global plastic waste management market size is expected to grow to $35.10 USD billion by 2026, with the Asia-Pacific region anticipated to be the largest leader to global market revenue.
Major factors for the significant growth in the market include initiatives taken by the public and private sector for environmental protection, including efforts to find solutions for recyclable packing.
Increasing global population, industrialisation, and urbanisation have also been found to be significant factors towards the market growth.
Particular growth has been found in Polyster Concrete, which has been made through plastic recycling and reconstruction and deployed as a low-cost and cheap source for construction projects.
Asia-Pacific is expected to continue to be the leader in the growing market, with expectations that a transition from traditional markets will contribute to further growth.
The consistent purchasing of packaged consumerist goods is also expected to contribute to increasing levels of waste and plastic recycling.
A report from Polaris Market Research concluded that major waste contributors such as Wastecare, Reprocesses Plastic and Waste Management launched new products and collaborations, further contributing to the market increase.
Rising environmental concerns are expected to have a significant impact on the Asia-Pacific region as well as the the global plastic waste management market.