by Plastic recycling machines facilitate the recovery of plastic from post-consumer and industrial waste for reuse in the production of new plastic products. These machines help reduce polymer waste disposal and dependence on virgin plastic feedstock. Various types of machines available in the market can sort, shred, wash, dry and pelletize plastic waste of different categories including PET, HDPE, LDPE, and PP.
The growing issue of plastic pollution worldwide and stringent waste management regulations have made plastic recycling an indispensable process. According to industry estimates, over 400 million tons of plastic waste is generated each year globally. If not recycled properly, this waste ends up polluting oceans and landfills. This has fueled the demand for machinery that can efficiently collect, process and convert discarded plastic into recycled plastics or polymers.
The Global Plastic Recycling Machine Market is estimated to exhibit a CAGR of 6.2% over the forecast period of 2024 to 2031.
Key Takeaways
Key players operating in the Plastic Recycling Machine Market Demand are Amstar Machinery Co. Ltd., Arlington Machinery, B+B Anlagenbau, CP Manufacturing, Doll Plast, GENIUS MACHINERY, Hikon India, ICMA San Giorgio SpA, KOWIN, Munchy, Netplasmak A, Next Generation Recyclingmaschinen GmbH, POLYSTAR MACHINERY CO., LTD., Precious Plastic, PRM-Taiwan, RECYCLEAN, Sant Engineering Industries, Vecoplan.
The growing consumption of plastics and initiatives promoting waste reduction have augmented the demand for plastic recycling significantly. Many countries and local governments have implemented strict regulations mandating the reuse and recycling of plastic products.
Leading recycling machinery providers have expanded their global footprint to cater to the burgeoning need for sustainable plastic management solutions. Collaborations between companies and trade organizations are furthering technology advancements in plastic reprocessing.
Market Key Trends
One of the major trends in the plastic recycling machine market is the increasing incorporation of robotics and automation. Advanced technologies allow high-speed sorting and processing of plastic mixes with improved accuracy and minimal human intervention. This boosts recycling output and quality. Automation also facilitates 24/7 operations and remote monitoring of recycling facilities.
Newly developed sorting systems make use of cutting-edge sensors, machine learning algorithms and computer vision to separate plastic waste more efficiently based on properties like resin type, color and density. Advanced sorting is critical given the complexity of inputs in municipal plastic recycling streams.
Lastly, the deployment of blockchain platforms is emerging as an innovative solution to tackle issues around plastic waste tracking and certification of recycled content. Blockchain can create a digital ledger recording the chain of custody of plastic materials from collection through reprocessing. This enhances supply chain transparency.
Porter’s Analysis
Threat of new entrants: Low capital requirements and technology barriers.
Bargaining power of buyers: Large number of established players leaves buyers with many alternatives.
Bargaining power of suppliers: Few global suppliers and differentiated components increase supplier power.
Threat of new substitutes: Alternative recycling methods like chemical and mechanical recycling pose threats.
Competitive rivalry: Intense competition among established players to gain market share.
Geographical regions with highest concentration:
Currently, the Asia Pacific region holds the major share of the plastic recycling machine market, both in terms of value and volume. This is mainly attributed to growing plastic waste production and stringent government policies regarding plastic waste management in emerging economies like China and India.
Fastest growing region:
Europe is projected to witness the fastest growth during the forecast period. This is owing to rising environmental concerns and favorable government regulations supporting recycling and reuse of plastics in countries like Germany, UK, France and Italy. Initiatives like circular economy action plan are boosting the adoption of advanced recycling technologies in the region
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
