Plastic Waste Management Market Size Worth USD 64.60 Billion by 2034 Amid Surge in Circular Economy Investments

Core Insights - The global plastic waste management market was valued at USD 38.91 billion in 2024 and is projected to grow at a CAGR of 5.20%, reaching USD 64.6 billion by 2034 [1][6][16] - The Asia Pacific region currently holds over 50% of the market share, while North America is expected to experience the fastest growth during the forecast period [1][6][34] Market Overview - The market is driven by the rise of circular economy models, increasing government regulations, and AI-driven waste tracking systems [1][8] - The recycling segment held the largest market share in 2024, while the collection segment is anticipated to grow at the fastest rate from 2025 to 2034 [6][25][26] Polymer and Source Analysis - Polypropylene was the dominant polymer segment in 2024 due to its eco-friendly properties and recyclability [6][27] - The residential segment generated the highest revenue share in 2024, with the commercial segment expected to grow rapidly in the coming years [6][29][30] End Use and Regional Insights - The packaging segment accounted for 45% of the market share in 2024, with the consumer product segment projected to grow at a solid CAGR [6][32][33] - The Asia Pacific plastic waste management market is expected to reach USD 32.62 billion by 2034, growing at a CAGR of 5.30% [34][36] Technological Innovations - AI plays a significant role in enhancing recycling efficiency and monitoring compliance, with companies like Recycleye utilizing AI-powered systems to improve sorting accuracy and processing speed [10][20][22] Regulatory Environment - The United Nations resolution to end plastic pollution through a legally binding treaty by 2024 is driving new national policies and private sector compliance efforts [9][44] - North America is focusing on unified national approaches to plastic waste management, with significant government regulations in place [40][41][46]