Mexico Plastic Waste Management Market Overview, 2028

Mexico Plastic Waste Management Market Overview, 2028

According to the sources it is estimated that each family in Mexico City disposes of 650 single-use plastic bags per year the country recycles only less than 10% of its waste. From the 123 tons of plastic waste produced in Mexico City every day, only 6 % gets recycled. Most of Mexico's waste ends up in landfills and pollutes nature and the air and rivers, and part of the trash will most probably end up in the ocean. Meanwhile, 48% of the plastic made is intended for single-use plastic products. 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.

According to the research report “Mexico Plastic Waste Management Market Overview, 2028,"" published by Bonafide Research, the market is expected to add USD 63.26 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 Mexico 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 Mexico.

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 Mexico due to the increasing demand for plastics for the packaging of products to protect, preserve, transport, and display information.

Mexican beaches are polluted with micro plastics. Mexico has a high waste collection rate of 91%, most of this waste is improperly disposed of in unregulated landfills Because of this, the government has shifted their focus to burying garbage in landfills, and Mexico also has one of the lowest recycling rates in the world. Mexico has ample legislation to address the plastic pollution problem. With 4 national regulations, 20 state laws, 26 municipal laws, and 4 official norms, the Mexican government is clearly committed to controlling plastic pollution and waste management. Mexico City banned all single-use plastics in 2021

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

Aspects covered in this report
• Mexico 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.