COVID–19 NEWS   Spain’s Queen catches COVID-19 amid countrywide spike in infections | S Korea’s new COVID-19 cases bounce back to over 10,000 amid resurgence woes | Italy's COVID-19 transmission rate rises for 4th consecutive week | N Korea's first COVID-19 cases traced to area bordering S Korea: State media | COVID: Rise in new infections, drop in death cases last week - Health DG | 
BUSINESS

Plastic waste management market size to achieve US$41.1 billion by 2026

07/04/2020 04:25 PM

KUALA LUMPUR, April 7 -- The global plastic waste management market size was US$31.7 billion in 2018 and will reach US$41.1 billion by 2026 with a CAGR of 3.3 per cent over the forecast period 2019-2026. (US$1 = RM4.35)

Acumen Research and Consulting recently announced a new study on ‘Plastic Waste Management Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026’.

Plastic waste management is a major problem faced by governments of developed and developing countries. According to the World Economic Forum on global level, the plastic waste generation stood at 300 million tonnes annually.

The plastic waste management market is segmented into service, polymer type, end use and region.

On the other hand, the service segment is segmented into collection & transportation, recycling, incineration and landfills.

The market in North America is expected to account for significant revenue share in the global market due to increasing government initiatives, in order to control the plastic waste.

The Asia Pacific market is expected to witness faster growth in the next few years due to high plastic waste generation. Emerging economies in this region are expected to generate high plastic waste due to rapid industrialisation.

 Plastic tends to be a better packaging solution for any product which increases its adoption from various end use manufacturers such as food & beverage, chemical and pharmaceutical. 

High use of plastic for product packing is resulting in generation of plastic waste. According to the United Nations Environment Programme report, the world produces 400 million tonnes of single-use plastic waste annually - 47 per cent of the total plastic waste.

-- BERNAMA


Bernama is the trusted source of reliable real-time comprehensive and accurate news for both the public and media practitioners. Our news is published at www.bernama.com ; BERNAMA TV on: Astro Channel 502, unifi TV Channel 631, MYTV Channel 121 IFLIX; and Bernama Radio broadcasting locally on FM93.9 in Klang Valley, Johor (FM107.5), Kota Kinabalu (FM107.9) and Kuching (FM100.9).

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2022 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy