Demand for plastic waste management services to grow at a CAGR of 3.02% uptil 2020

24-Nov-15

Demand for plastic waste management services is projected to grow at a CAGR of 3.02%, in terms of value, from 2015 to 2020, as per Reportlinker. The growth of this market is propelled by factors such as increasing urban population, industrialization, increasing consumer awareness, and stringent laws and regulations. The market is further driven by factors such as growing demand for plastics and plastic products. The Asia-Pacific region is estimated to account for the largest market share. North America and Europe have many established plastic waste management companies due to the willingness of companies in the region to take up capital intensive projects, along with the availability of technical expertise. The recycled plastics market is projected to witness the highest demand from packaging manufacturers. The market for recycling is projected to account for the largest market share from 2015 to 2020.