North America Plastic Waste Management Market Research Report, 2028

North America had the world's second-largest revenue share. In terms of collection and treatment, the region has a well-established market. The presence of solid waste management companies and their distribution network is a key growth factor for the North American market. The growing public awareness of the environmental impact of plastic waste is driving demand for effective plastic waste management solutions. This awareness is increasing demand for sustainable waste management practises such as recycling, waste-to-energy, and other innovative solutions. Advances in recycling technologies are propelling the North American plastic waste management market forward. Chemical recycling and advanced sorting and processing equipment, for example, are allowing for the recycling of a broader range of plastics and increasing recycling rates. The North American plastic waste management market is also being driven by significant private sector investment in sustainable waste management solutions. To meet the growing demand for sustainable waste management practises, private companies are investing in recycling infrastructure, waste-to-energy technologies, and other innovative solutions. According to the research report, “North America Plastic waste management Market Research Report, 2028” published by Actual Market Research, the market is projected to acquire market size of USD 10.82 Billion by 2028. The landfill segment is expected to dominate the plastic waste management market in North America. The presence of fewer recycling plants and incinerators leads to waste mismanagement, which contributes to an increase in plastic waste disposal and landfills. During the forecast period, the recycled plastic waste market is expected to grow at the fastest CAGR. Recycling is a well-known and well-established method of managing plastic waste in North America, with a vast network of recycling infrastructure and programmes in place. Many municipalities have curbside recycling programmes, and the region also has a large number of private recycling companies. Furthermore, there is a sizable market for recycled plastic products, with many businesses incorporating recycled plastic into their products or packaging. In North America, industrial plastic waste generated by manufacturing and industrial processes is a growing source of plastic waste. As a result, industrial plastic waste management solutions such as recycling and waste-to-energy are in high demand. Commercial plastic waste produced by businesses such as retail stores and restaurants is another growing source of plastic waste in North America. Commercial plastic waste management solutions, such as recycling and composting, are in high demand. The United States is one of the leading producers of plastic waste. Plastic recycling in the country is very low when compared to total plastic waste generation in the country. The majority of the United States' plastic waste is exported to countries such as China, Hong Kong, Ecuador, Colombia, Indonesia, Vietnam, and Thailand, where it is recycled, processed for energy generation, or disposed of in landfills. In North America, changing consumer behavior towards sustainability is driving the market. Growing concerns about plastic pollution, harmful emissions from petrochemical use, and fluctuating crude oil prices have fueled demand for plastic recycling. The growing use of recycled plastics in a variety of industries, including textiles, automotive, packaging, and electrical & electronics, and building and construction, is expected to increase demand for plastic recycling in the United States and Canada. As people become more aware of the environmental impact of plastic waste, there is a growing demand for products made from recycled plastic. As companies seek to meet this demand, this trend is driving the growth of the plastic recycling industry. Plastic recycling technology advancements enable the recycling of a broader range of plastics and the production of high-quality recycled plastic products. This contributes to the efficacy and efficiency of plastic waste management solutions in the North American market. Consumers are becoming more conscious of the products they buy and the waste they generate as public awareness of the environmental impact of plastic waste grows. This is causing a shift towards more sustainable products and packaging, as well as an increase in demand for plastic waste management services. In North America, there are many government initiatives aimed at reducing plastic waste, which is boosting the demand for plastic waste management. The Environmental Protection Agency (EPA) of the United States has a number of programmes and initiatives aimed at reducing plastic waste. The Sustainable Materials Management Program, which works to reduce waste and promote sustainable materials management practises, and the National Sword programme, which focuses on reducing the amount of contaminated recyclables sent to China for processing, is examples of these. The federal government of Canada has committed to prohibiting single-use plastics by the end of 2021. Straws, plastic cutlery, and plastic bags will be prohibited. The Canadian Plastics Industry Association (CPIA) has launched Operation Clean Sweep, a programme designed to reduce plastic pellet loss during manufacturing and transportation. The programme provides guidelines and best practises to assist businesses in managing plastic waste. Several North American cities have launched their own initiatives to reduce plastic waste. For example, San Francisco banned plastic bags in 2007, and the city expanded the ban to include plastic straws and utensils in 2018. Plastic straws and foam containers have also been banned in Vancouver, Canada. Restraints The lack of infrastructure to handle and recycle plastic waste is one of the most significant challenges in North America's plastic waste management. Simple terms, there aren't enough facilities or programmes in place to handle the amount of plastic waste being generated. Many people are still unaware of the environmental impact of plastic waste and thus are unmotivated to change their behavior. Due to this lack of awareness, programmes aimed at reducing plastic waste may have a limited impact. Economic pressures may make it difficult for businesses to adopt environmentally friendly practises. For example, recycled plastics may be more expensive than virgin plastics, making the switch more difficult for businesses. Opportunities There is a growing public awareness of the problem of plastic waste and its environmental impact, which presents an opportunity to engage individuals and communities in efforts to reduce plastic waste. Education and outreach programmes can help raise awareness of the problem and encourage people to adopt more environmentally friendly practises. Collaboration among governments, businesses, and communities can accelerate progress in plastic waste management. Stakeholders can identify shared goals and develop coordinated solutions to reduce plastic waste by working together. In product design and manufacturing, there is an opportunity to use more sustainable materials. Using biodegradable materials instead of traditional plastics, for example, can reduce waste generation because they degrade more easily in the environment. Developments • Governments are enacting policy and regulatory frameworks to support the reduction of plastic waste. Several states and municipalities, for example, have implemented single-use plastic bans, and Canada plans to implement a nationwide ban on single-use plastics by the end of 2021. • The US Federal Government has taken steps to address plastic waste by issuing a number of executive orders that include provisions for plastic waste reduction. The Biden Administration's executive order on addressing the climate crisis, for example, includes a call to develop strategies to reduce plastic waste. • Several North American companies have pledged to reduce their plastic waste. Nestle, for example, has pledged to make all of its packaging recyclable or reusable by 2025, and Coca-Cola has pledged to collect and recycle the equivalent of all of its packaging by 2030. There are several start-ups in North America that are focused on plastic waste management. Here are a few examples: • Blue Renew: Based in Canada, Blue Renew is a start-up that is developing a technology to turn mixed plastic waste into high-quality fuels and chemicals. The company's process involves pyrolysis, which uses heat in the absence of oxygen to break down plastics into their constituent components. • Renewlogy: Renewlogy, based in the US, has developed a technology to convert non-recyclable plastics into fuels and chemicals. The company's process involves breaking down plastics into a gas, which is then cooled and condensed into a liquid fuel. • Genecis: Genecis, also based in Canada, is using synthetic biology to convert organic waste, including food waste and plastics, into valuable chemicals. The company's process involves using bacteria to break down waste and produce biodegradable plastics and other products. • Vessel Innovations: Vessel Innovations, based in Canada, has developed a technology for recycling polystyrene foam, a material that is notoriously difficult to recycle. The company's process involves using a solvent to dissolve the foam, which can then be turned into a variety of products. Major Companies present in the market: Republic Services, Inc., WM(Waste Management, Inc.), Stericycle Inc., Veolia Environnement S.A., GFL Environmental, Sembcorp Industries Ltd., Casella Waste Systems, Electronic Recyclers International, Inc., Covanta Holding Corporation, Plastic Energy, Enviro-Hub Holdings Ltd, Waste Connection. Considered in this report • Geography: North America • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • North America Plastic Waste market with its value and forecast along with its segments • Region-wise E-Waste Management market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report: • United States • Canada • Mexico By Service Type : • Collection & transportation • Recycling • Incineration • Landfills By Source Type : • Residential • Commercial & institutional • Industrial • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Secondary research was initially used to gain an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases and annual reports of companies, as well as government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Following this, we began making primary calls to consumers, segmenting them equally into regional aspects, tier aspects, age groups, and gender. Once we had primary data with us, we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations and organisations related to the E-Waste Management industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.