This is according to a recent report released by Fortune Business Insights that also anticipates the market will grow at a CAGR of 3.1% during that period. The growth speaks to the crisis levels that the global plastic pollution situation has reached. The waste management sector is composed of different technologies including recycling by material, product type, and the treatment method of recycling and reusing these products.
While advanced recycling is one way of dealing with the problem, the sheer volume of plastic that is in our ecosystem is overwhelming our resources as it is. Companies like Waste Management (NYSE:WM), Clean Harbors (NYSE:CLH), and Veolia Environnement (OTC:VEOEY) are coming up with new and innovative ways to deal with the issue.
Another company that investors should look at is CleanVision Corp (OTC:CLNV). The California-based company is working with governments around the world to build PCNs or plastic conversion networks where they take collected plastic waste to convert into clean-burning, hydrogen fuel sources. This reusability of plastic waste might be the most sustainable, long-term method of dealing with the problem that is plaguing coastlines and oceans around the world.
Featured: $WM $CLH $VEOEY $CLNV