Australia Plastic Waste Management Market Overview, 2028

Australia Plastic Waste Management Market Overview, 2028

Australia is one of the highest waste generators per capita in the world, with an estimated 2.5 million tonnes of plastic waste generated each year. The Australian government has set a target of 100% of Australian packaging being reusable, recyclable or compostable by 2025. Several Australian states have introduced container deposit schemes, where consumers receive a refund for returning beverage containers for recycling. The Australian government has also banned single-use plastic items, such as plastic bags, straws and cutlery in some states. The Australian Packaging Covenant Organisation (APCO) works with businesses and government to reduce the environmental impact of packaging in Australia. The recycling industry in Australia has faced significant challenges in recent years, particularly since China introduced stricter rules on importing waste in 2018. Innovative solutions to plastic waste management are being developed in Australia, such as the use of waste plastic in road construction. Australian organisations, such as the Boomerang Alliance, are advocating for better plastic waste management practices and policies. Despite the challenges, there is growing awareness and public support for reducing plastic waste in Australia, and a range of initiatives and solutions are being implemented to address the issue.

According to the research report “Australia Plastic Waste Management Market Overview, 2028,"" published by Bonafide Research, the market is expected to add USD 113.05 Million by 2028. Plastic production is increasing as urbanisation and industrialization expand. The increase in the number of commercial venues such as malls, theatres, restaurants, hospitals, educational institutions, and others results in an increase in the amount of plastic waste, which eventually opens up more opportunities for the need for waste management. Additionally, raising awareness about plastic recycling and reprocessing waste materials are important factors in driving demand for plastic waste management. The awareness about plastic waste management has increased significantly with the progress in consumer education and rising awareness about health and environment. The growing population and the growing income levels of people have generated new opportunities for the plastic waste management industry.

The Recycling and Waste Reduction Act 2020, enacted by the Australian Government in December 2020, became law. The new legislation bans the export of unsorted mixed plastics from July 1, 2021, and unprocessed single polymer or resin plastics from July 1, 2022. The Australian Government supports industry-led product stewardship schemes because industry is best placed to ensure sustainable material production and end-of-life management systems are in place. To drive further industry action, the Australian Packaging Covenant Organization (APCO) has set new industry targets for average recycled content in plastic packaging.

Based on the source, the plastic waste management market is segmented into residential, commercial, and industrial. During the forecast period, the industrial sector is expected to dominate the market for plastic waste management in Australia due to an increase in industrialization and the packaging of products. Because packaging has a very short life span, typically around 6 months or less, packaging of the product is one of the key factors that will dominate the market growth of the plastic waste management market in Australia.

Based on end use, the plastic waste management market is segmented into building & construction, consumer products, electrical & electronics, industrial machinery, packaging, and automotive. The packaging segment is expected to dominate the plastic waste management market in Australia due to the increasing demand for plastics for the packaging of products to protect, preserve, transport, and display information.
The Australian Government has invested $20.6 million to create a waste data visualisation platform. The public-facing data repository will bring together data from a range of sources to provide nationally consistent real-time information. Understanding plastic volumes, value and movement through the economy will support effective decision making and create new economic opportunities for businesses.

The scarcity of treatment plants is one of the most serious issues confronting plastic waste management. Several manufacturing units and sources dump their plastic waste into bodies of water or on land; additionally, a lack of understanding of waste management infrastructure is a challenge for this market. Furthermore, plastic waste management is a capital-intensive process. Processing and treating waste necessitates skilled and motivated labour, which raises operating costs and reduces profit margins. This is expected to have a negative impact on market growth during the forecast period.

Considered in this report
• Geography: Australia
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Australia plastic waste management market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Source Type
• Residential
• Commercial & Institutional
• Industrial

By Service Type
• Collection and Transportation
• Recycling
• Incineration
• Landfills

By End use
• Building and Construction
• Consumer Product
• Electrical and Electronics
• Industrial Machinery
• Packaging
• Automotive
• Others

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Plastic waste management, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.