Europe Plastic Waste Management Market Outlook, 2028

Europe Plastic Waste Management Market Outlook, 2028

Plastic waste management is an important platform for limiting plastic growth. The growing awareness of the importance of reducing plastic waste is helping the growth of the Europe Plastic Waste Management Market. The illegal and unnecessary dumping of plastic is avoided with the help of Plastic Waste Management. Plastic dumping in random areas harms the environment by causing soil pollution. These are avoided through Plastic Waste Management, which works to reduce the use of plastic in an environmentally friendly manner. Plastic consumption can be reduced by first collecting disposable plastic. The plastic is then recycled so that it can be used and reused again. This reduces the need for new plastic and accelerates the growth of Europe's plastic waste management market. By reducing the use of new raw materials, we reduce greenhouse gas emissions and pollution. Controlling plastic reduces global warming and helps to provide a healthy environment for future generations. Plastic not only harms the soil and the environment, but it also harms animals. Small plastic particles are frequently consumed by animals and birds, posing health risks. Plastic takes an extremely long time to disintegrate, which is fueling the growth of Europe's Plastic Waste Management market. Plastic waste is generated by both industries and households. Every year, massive amounts of industrial waste are generated. Plastic Waste Management assists industries in disposing of plastic in an efficient manner that does not harm the environment.

According to the research report, “Europe Plastic waste management Market Outlook, 2028” published by Bonafide Research, the market was calculated to have a size of over USD 7.13 Billion in 2022. Based on service type, the recycled plastic waste market in Europe is expected to grow at the fastest CAGR during the forecast period, owing to stringent government policies and a significant increase in recycling plastic infrastructure. Recycled plastic is used to make clothes, carpets, garbage bags, films, containers, and bottles, among other things. Due to various rapid industrialization in developing economies, the Industrial Waste Segment will continue to be the largest plastic waste source in the Plastic Waste Management Market. Containers, pipes, cables, wires, packaging foams, and other industrial products are common components of industrial plastic waste.

In Europe, the majority of collected plastic waste is used to generate energy. The new 'Circular Economy Action Plan' and 'The European Green Deal' are expected to have a significant impact on the growth of this market in Europe. The European Green Deal lays out a plan for expanding the circular economy, restoring biodiversity, and reducing pollution. In 2028, Germany is one of Europe's leaders in plastic waste management. The German plastic waste management market is characterised by the country's stringent waste management regulations and policies. The German government has set high recycling targets for plastic waste, which has resulted in the development of a well-developed recycling infrastructure. The growing demand for environmentally friendly and sustainable products is also driving the German plastic waste management market. Consumers are becoming more aware of the environmental impact of plastic waste, and they are increasingly looking for products made from recycled materials or that are biodegradable.

Europe has been at the forefront of addressing the issue of plastic waste, introducing various government initiatives and regulations to manage it. Some of Europe's notable plastic waste management initiatives are The European Union has introduced a ban on single-use plastics, which includes items like straws, cutlery, plates, and cotton buds. The ban took effect in 2021, with the goal of reducing the amount of plastic waste that ends up in the environment. However, many European countries have implemented plastic bottle deposit return schemes to encourage consumers to return used bottles for recycling. When the bottle is returned, the deposit paid by the consumer is refunded, incentivizing people to recycle and reducing the amount of plastic waste. Further, plastic bag bans have been implemented in many European countries, limiting the use of single-use plastic bags in supermarkets and other retail outlets. The goal is to reduce the amount of plastic waste generated by these bags and encourage people to instead use reusable bags.

Restraints
Plastic recycling is a difficult process. Many chemicals that are generally harmful are used in the recycling process. Plastic recycling involves burning the plastic until it melts and then recycling it into new recycled plastic. This emits extremely hazardous chemicals into the environment. These chemicals have an impact on workers as well as nearby plant and animal life. Furthermore, these chemicals are bound to recycled plastics, which are major barriers to market growth.

Opportunities
As the number of industries grows, so does the amount of plastic dumping from those industries. This raises the demand for plastic waste management services. Growing public awareness is also expected to boost the growth of Europe's plastic management market. One of the main concerns for increasing the use of plastic is the growing population; this is also an additional factor for the market to grow. This can be avoided by increasing plastic recycling. Climate change can be avoided by recycling plastic and reducing pollution caused by plastic. Many concerned individuals are joining or forming organisations to combat the harmful use of plastic. By organising a large number of people, these organisations aid in the collection of plastics on beaches and in the mountains. During the forecast period, these are expected to aid the growth of the European plastic waste management market.

Developments
• In November 2022, Plastics founder André Vanyi-Robin announced the formation of a partnership between governments and many companies to reduce plastic pollution. When compared to dumped plastic, the recycled plastic ratio is low. This collaboration is expected to improve this ratio while also reducing plastic pollution. This is expected to help the European plastic waste management market grow during the forecast period.
• In November 2022, a coalition was formed between many private companies and the Department of Environment and Natural Resources (DENR) to control the dumping of plastic package waste. They hope to mitigate the effects of plastic by reducing waste. This collaboration is expected to help the European plastic waste management market grow in the future.
• The United Kingdom is now on the verge of permanently reducing plastic pollution by November 2022. Thérèse Coffey, the Environment Secretary, says this. They are expected to reach an agreement in future meetings. During the forecast period, this goal is expected to have a positive impact on the European plastic waste management market.

European start-ups for plastic waste management:
• Reflow is a Dutch start-up that converts plastic waste into high-quality 3D printing filament. This results in a closed-loop system for plastic waste, reducing the need for virgin plastic.
• Polipop is a Polish start-up that develops sustainable packaging solutions based on natural fibres and biopolymers. Their items are biodegradable, compostable, and recyclable.
• Carbios is a French start-up that has developed a proprietary technology for recycling PET plastic waste into its original monomers, which can then be used to make new plastic products.
• Ocean Bottle is a UK-based start-up that makes reusable water bottles out of recycled ocean plastic. Each bottle purchased helps to collect 11.4 kg of plastic waste, and the company has teamed up with Plastic Bank to support ocean plastic collection and recycling projects.
• Waste2Wear is a Dutch start-up that creates sustainable textiles from recycled plastic waste. They collaborate with fashion and textile companies to create environmentally friendly clothing and accessories.
• Recycl3R - Recycl3R is a Spanish start-up that has developed a technology that can sort and recycle mixed plastic waste, which is a major challenge in plastic waste management. Their technology can separate up to 98% of mixed plastic waste and separate it into various types of plastic for recycling.

Major Companies present in the market:
Augean plc, Stericycle Inc., Veolia Environnement S.A, Umicore,, Biffa plc, Covanta Holding Corporation, Plastic Energy, Renewi plc, Enviro-Hub Holdings Ltd, FCC Environment Limited.

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

Aspects covered in this report
• Europe 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:
• Germany
• UK
• France
• Spain
• Italy
• Russia

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 Plastic 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.