The global plastic recycling machine market involves a wide range of machines used to recycle post-consumer and post-industrial plastic waste. Some key machines include crushers, shredders, washing systems, drying systems, and granulators. Plastic recycling machines help reduce waste plastic volume and convert it into useful recycled plastic products. With rising plastic waste generation and tightening environmental regulations around plastic disposal, demand for plastic recycling machines is growing.
The need for Plastic Recycling Machine Market Demand stems from the fact that plastic is a material that does not decomposed for hundreds of years in landfills and dumping sites. This creates an enormous burden on the environment. Plastic recycling helps reduce this burden by processing waste plastic into recycled plastic raw material that can be used again to make various plastic products. Recycled plastic products play a key role in green supply chains. The growing focus on sustainability practices among industries is fueling interest in recycled plastics.
Global plastic recycling machine market is estimated to be valued at USD 3.59 Bn in 2024 and is expected to reach USD 5.46 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
Key Takeaways
Key players operating in the plastic recycling machine market are Pellenc ST, ARJES-Recyclingtech, ARS Recycling Systems, B+B Anlagenbau, BHS Sonthofen, Bollegraaf Recycling Solutions, Brentwood Recycling Systems, EC-Shred, GENIUS MACHINERY, Vecoplan, and Viridor.
The key opportunities in the plastic recycling machine market include increasing focus on circular economy principles, greater incentivization of recycled plastic usage, and potential for international expansion to new recycling hubs.
Major companies in the market have been expanding globally to capitalize on the rising need for plastic recycling in new regions and countries. For instance, Pellenc ST recently established operations in Spain and Brazil to offer local sales and service support for plastic recycling machines.
Market drivers
Growing plastic waste volumes due to high use of single-use plastics is a major driver for plastic recycling machines. Lack of proper plastic disposal solutions necessitates advanced recycling.
Rising focus of industries on adopting sustainbale and circular business models encourages use of recycled plastics, boosting demand for recycling machines.
Market restraints
High initial investment cost of modern recycling machines can be prohibitive for some companies.
Lack of standardized plastic waste collection mechanisms in some regions pose challenges to plastic recycling machine manufacturers.
Segment Analysis
The plastic recycling machine market is dominated by the single-screw extruder sub-segment. Single-screw extruders have higher efficiency and productivity compared to other types such as twin-screw extruders. They are able to process most types of waste plastic material including PET, HDPE, LDPE, PP, and PS. They also offer benefits such as lower capital cost and simple design and operation process which has contributed to their widespread adoption among plastic manufacturers and recycling firms. Other major sub-segments include injection moulding equipment, blow moulding equipment and thermoforming equipment which find applications in different stages of plastic recycling.
Global Analysis
The Asia Pacific region currently dominates the global plastic recycling machine market and is expected to witness highest growth during the forecast period. This is due to the rapid industrialization and economic development occurring across countries such as China, India, and Southeast Asian nations. The growing plastic waste generation coupled with implementation of supportive government regulations for plastic recycling are some key factors propelling market revenue in the region.Europe holds a substantial share in the market and is focusing increasingly on sustainable waste management practices to achieve circular economy goals. North America is another major recycling hub owing to strict environmental norms and initiatives to reduce plastic pollution.
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About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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