- Rise in use of plastics across a wide range of industry verticals is boosting the sales prospects in the plastic recycling machine market
- Plastic recycling machine manufacturers are developing highly efficient machineries with the ability to protect the environment from adverse effects due to plastic waste
ALBANY, N.Y., Feb. 2, 2022 /PRNewswire/ -- The global plastic recycling machine market is projected to expand at a CAGR of 5.4% during the forecast period from 2021 to 2031, according to analysts by Transparency Market Research (TMR).
Plastic is being extensively adopted by a wide range of end-use industries around the world, owing to its numerous advantages such as easy availability, durability, lightweight, flexibility, and cost-effectiveness. Moreover, it is in high demand across healthcare, electronics, and automotive industries due to its versatile nature and low maintenance properties. Moreover, rise in use of plastics for transportation and goods packaging purposes is creating ample opportunities in the plastic recycling machine market.
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Plastic Recycling Machine Market: Key Findings
- Rising concerns on adverse environmental impact of plastics & their non-biodegradability and greenhouse gas emission are some of the burning issues today. Due to increasing awareness on these issues, many businesses are inclining toward plastic recycling, which, in turn, is fueling prominent sales prospects in the global plastic recycling machine market, notes a TMR report.
- As presently available plastic recycling machines utilize next-gen technologies, they hold the ability to recover any type of scrap plastics and convert them into usable products. This recycled plastic is widely used in different end uses such as furniture, electrical & electronic components, automotive parts, clothing, containers, bottles, and construction industry. This explains why the global plastic recycling machine market is prognosticated to gain valuation of US$ 481.2 Mn by 2031 during the forecast period.
- Government and private organizations across the globe are increasing research activities on the plastic biodegradability. They are also growing focus on decreasing environmental impacts on plastic pollution. These efforts are resulting in an increase in demand for plastic recycling activities, which, in turn, are driving growth opportunities in the global plastic recycling machine market.
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Plastic Recycling Machine Market: Growth Boosters
- Rise in utilization of products manufactured using recycled plastic in different end-use industries, including automotive, construction, and electronics is bolstering the demand for plastic recycling machines around the world
- Increase in applications of technologically advanced tools in plastic recycling processes is expected to favor the growth of the plastic recycling machine market
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Plastic Recycling Machine Market: Regional Analysis
- The market in Asia Pacific is expected to register growth at a CAGR of 6.8% during the forecast period, owing to increasing focus on companies from varied industries to shift their businesses in this region. Moreover, rising awareness on the importance of plastic waste management is anticipated to boost the expansion of the plastic recycling machine market.
- North America is estimated to contribute considerable share to the plastic recycling machine market, owing to increase in knowledge among regional people and businesses on carbon footprints
Plastic Recycling Machine Market: Competition Landscape
- Companies operating in the global plastic recycling machine market are increasing efforts to spread awareness about their products by participating in different trade shows
- Several enterprises from the plastic recycling machine market are increasing R&D projects in order to advance the quality of their existing products and launch advanced products
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Plastic Recycling Machine Market: Key Players
Some of the key players profiled in the report are:
- EREMA Engineering Recycling Maschinen und Anlagen Ges.m.b.H
- Aceretech Machinery Co., Ltd
- Ko Win Yang Industrial Co., Ltd
- Genius Machinery Co., Ltd.
- Next Generation Recyclingmaschinen GmbH
- Matila Industrial Co., Ltd
- Polystar Machinery Co., Ltd
- Plastics Machinery Group International Ltd.
- Boston Matthews, and Starlinger
Global Plastic Recycling Machine Market: Segmentation
Plastic Recycling Machine Market, by Product Type
- Single Stage
- Two Stage
- Multi Stage
Plastic Recycling Machine Market, by Capacity
- Up to 100 kg/hr.
- 100 kg/hr. to 300 kg/hr.
- 300 kg/hr. to 500 kg/hr.
- Above 500 kg/hr
Plastic Recycling Machine Market, by Machine Type
- Automatic
- Semi-automatic
Plastic Recycling Machine Market, by Price
- Low
- Medium
- High
Plastic Recycling Machine Market, by End-user
Post-industry
Post-consumer-recycling
Plastic Recycling Machine Market, by Distribution Channel
- Direct Sales
- Indirect Sales
Plastic Recycling Machine Market, by Technology
- Shredders
- Extrusion
- Grinder
- Mixer
- Sorting
- Washing
- Others
Plastic Recycling Machine Market, by Plastic Type
- Single Use Plastic
- Multi Use Plastic
Plastic Recycling Machine Market, by Category
- Rigid
- Flexible
Plastic Recycling Machine Market, by Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- Japan
- Rest of Asia Pacific
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
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