Plastic Bin Trends and Forecast
The future of the global plastic bin market looks promising with opportunities in the industrial use and life use markets. The global plastic bin market is expected to grow with a CAGR of 3.8% from 2024 to 2030. The major drivers for this market are increasing urbanization and industrialization, shift towards sustainable practices and recycling initiatives, as well as, rise of e-commerce platforms and logistics.
• Lucintel forecasts that standard type is expected to witness the highest growth over the forecast period.
• Within this market, industrial use is expected to witness the higher growth.
• APAC is expected to witness highest growth over the forecast period.
United States: Recent developments in the US plastic bin market include initiatives by companies like Rubbermaid focusing on sustainable materials and recycling programs. Government targets aim to reduce plastic waste by 25% by 2030, driving innovation in eco-friendly bin solutions.
China: Chinese companies like Haichuan Plastic are announcing advancements in smart bin technology, aligning with government initiatives to promote waste sorting and recycling. Targets set by the government aim for a 35% reduction in plastic waste by 2025.
Germany: Companies such as Rotho are leading the market with initiatives to produce bins from recycled materials, in line with government targets to achieve a circular economy. Investments in smart waste management systems are aimed at optimizing collection and recycling processes.
India: Recent developments include companies like Nilkamal introducing affordable and durable plastic bin solutions for urban and rural areas. Government targets focus on increasing waste segregation and recycling rates, with initiatives to eliminate single-use plastics by 2022.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Plastic Bin by Segment
The study includes a forecast for the global plastic bin by type, application, and region.
Plastic Bin Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Standard Type
• Oblique Insertion
• Dislocation
Plastic Bin Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Industrial Uses
• Life Uses
Plastic Bin Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Plastic Bin Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies plastic bin companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the plastic bin companies profiled in this report include-
• Myers Industries
• ORBIS Corporation
• Keter
• Edsal
• Allit AG
• Brite
• Raaco
• Vishakha
• Busch Systems
• W Weber
Recent Development in the Plastic Bin Market
Rubbermaid: Sustainable Material Integration
Rubbermaid, a leader in storage solutions, announced its initiative to incorporate more sustainable materials into its plastic bin manufacturing process. The company aims to reduce its environmental footprint by utilizing recycled plastics and exploring biodegradable alternatives.
Sterilite Corporation: Advanced Design Innovation
Sterilite Corporation introduced a new line of plastic bins featuring advanced design innovations aimed at enhancing functionality and durability. The companyÄX%$%Xs investment in research and development resulted in bins with improved stackability, ergonomic handles, and reinforced corners for increased strength.
IRIS USA: Smart Bin Technology Integration
IRIS USA integrated smart technology into its plastic bin products, offering customers innovative features such as inventory tracking, temperature monitoring, and remote access control. This move positions IRIS as a frontrunner in the digital transformation of storage solutions.
Plastic Omnium: Circular Economy Collaboration
Plastic Omnium announced strategic partnerships with recycling companies to establish a closed-loop system for plastic bin production. By collecting used bins, recycling them, and reintegrating the material into the manufacturing process, Plastic Omnium aims to contribute to a more sustainable circular economy.
United Solutions: Customization and Personalization
United Solutions unveiled a new service allowing customers to customize and personalize plastic bins according to their specific needs and preferences. Through an online platform, clients can choose colors, sizes, and features, providing a tailored storage solution that meets individual requirements.
Features of the Global Plastic Bin Market
Market Size Estimates: Plastic bin market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Plastic bin market size by type, application, and region in terms of value ($B).
Regional Analysis: Plastic bin market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the plastic bin market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the plastic bin market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for plastic bin market?
Answer: The global plastic bin market is expected to grow with a CAGR of 3.8% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the plastic bin market?
Answer: The major drivers for this market are increasing urbanization and industrialization, shift towards sustainable practices and recycling initiatives, as well as, rise of e-commerce platforms and logistics.
Q3. What are the major segments for plastic bin market?
Answer: The future of the global plastic bin market looks promising with opportunities in the industrial use and life use markets.
Q4. Who are the key plastic bin market companies?
Answer: Some of the key plastic bin companies are as follows:
• Myers Industries
• ORBIS Corporation
• Keter
• Edsal
• Allit AG
• Brite
• Raaco
• Vishakha
• Busch Systems
• W Weber
Q5. Which plastic bin market segment will be the largest in future?
Answer: Lucintel forecasts that standard type is expected to witness the highest growth over the forecast period.
Q6. In plastic bin market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the plastic bin market by type (standard type, oblique insertion, and dislocation), application (industrial uses and life uses), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Plastic Bin Market, Plastic Bin Market Size, Plastic Bin Market Growth, Plastic Bin Market Analysis, Plastic Bin Market Report, Plastic Bin Market Share, Plastic Bin Market Trends, Plastic Bin Market Forecast, Plastic Bin Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.