Canada Plastic Waste Management Market Overview, 2028

Canada Plastic Waste Management Market Overview, 2028

Canada is investing $183.1 million over five years, to reduce plastic waste and increase plastic circularity by developing and implementing regulatory measures, and conducting scientific research to inform policy-making. Plastic waste management refers to methods and approaches used to reprocess plastic material rather than dumping it into landfills, waterways, or otherwise allowing it to pollute the environment. The reduced use of virgin plastic in product manufacturing is the most important factor promoting plastic waste management. Canada produces over three million tonnes of plastic waste annually. Only eight per cent of that is recycled, leaving the rest to end up in landfill, environment or be burned.

According to the research report “Canada Plastic Waste Management Market Overview, 2028,"" published by Bonafide Research, the market is expected to add USD 142.72 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.

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 the Canada due to an increase in industrialization and the packaging of the 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 the Canada.

Based on end use, the plastic waste management market is segmented into building & construction, consumer products, electrical and electronics, industrial machinery, packaging, and automotive. The packaging segment is expected to dominate the plastic waste management market in the Canada due to the increasing demand for plastics for the packaging of products to protect, preserve, transport, and display information.

The government of Canada is introducing policies and regulations to regulate the production of plastic waste, promote the reuse and recycling of plastic waste, and encourage the comprehensive disposal of waste. In order to encourage efficient waste management, governments also implement landfill taxes, waste disposal taxes, recycling credit programs, deposit rebate systems, etc. It is expected that these steps by governments in different states will further promote the growth of the plastics industry. The government of Ontario is taking actions to reduce plastic pollution in the Great Lakes. So, they are innovating with new technologies such as nanotechnology, genetic modification, and advanced chemical processes to help reduce plastic pollution by developing natural substitutes and producing more biodegradable plastics. Ontario dominates the Canadian plastics market owing to the rapid increase in the packaging and construction sectors.

The Canadian Plastics Innovation Challenges (CPIC) is part of Canada's comprehensive approach to address plastic waste and pollution. This programme offers funding to small and medium-sized enterprises to incentivize the development of technology to address plastic waste. Through CPIC, Canada is investing nearly $19 million to support Canadian innovators in developing solutions for plastics challenges by providing winners with up to $150,000 to develop a proof of concept and up to $1 million to develop a prototype if selected. Environment and Climate Change Canada is the sole sponsor of five of these challenges, which have resulted in an additional $4 million in funding.

In November 2018, through the Canadian Council of Ministers of the Environment, the federal, provincial and territorial governments adopted the Canada-wide Strategy on Zero Plastic Waste. Building on the Ocean Plastics Charter, the Strategy takes a circular economy and lifecycle approach to plastics and provides a framework for action in Canada. The federal, provincial and territorial governments also adopted a Canada-wide Action Plan on Zero Plastic Waste to implement the Strategy. The Plan, developed in two phases, sets out tangible actions and clear timelines to better prevent, reduce, reuse, recover, capture and clean up plastic waste and pollution in Canada.

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: Canada
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• Canada 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.