Plastic waste management and pollution has certainly been making headlines as of late. After it was revealed that only about 5% of plastics actually get properly recycled in the US, some have finally realized how much of a crisis this problem has become.
In a recent Vantage Market Research Report, the plastic waste management industry is expected to grow by a CAGR of 2.9% through 2028, where it will reach a value of $39.7 billion. Why is plastic waste becoming such a global issue? We are using more single-use plastics than ever before without a suitable way to dispose or recycle the materials once we are finished with them.
The World Wildlife Fund (WWF) ran a recent poll amongst Americans where nearly a quarter of those polled demanded that the US Congress work to find a solution. A further 85% of Americans polled were frustrated with the level of plastic pollution that ends up in the world’s oceans.
There are certainly companies that are already working on solutions for plastic waste management. Waste Management (NYSE:WM) and Veolia Environnement SA (OTC:VEOEY) are two companies in the US and Europe respectively that are heavily involved in the plastic management industry.
In terms of emerging companies, Clean Vision Corp (OTC:CLNV) has helped to establish Plastic Conversion Networks in markets around the world. These networks convert collected plastic waste into renewable energy sources like its hydrogen fuel, AquaH.
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$CLNV – Clean Vision Corp