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Solvent Recycling Market Insights, Trends Forecast 2022-28

Solvent Recycling Market Insights, Trends Forecast 2022-28

The global solvent recycling market size was valued at USD 589.62 million 2021, at a CAGR of 5.8% during the forecast period 2022-2028. Plastics that are now unrecyclable may be able to be recycled with the help of solvent-based procedures. Many sectors, including the electronic and electrical industries, and medical and food packaging, use multilayer plastic materials. Approximately 100 million tonnes of multilayer plastics, which can have up to twelve layers of different polymers, are produced annually worldwide. Almost all multilayer plastics cannot be recycled and instead wind up in landfills or incinerators. By recycling multilayer plastics, solvent-based recycling can contribute to resolving this challenge.

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The world's rapid industrialization is enabling the solvent recovery systems market to experience robust growth. Chemicals used in industry are recycled, and potentially dangerous solutions are removed before being prepared for reuse. Systems for recovering solvents reduce the need for raw materials and the price of solvents. Therefore, these factors can plant the seeds of market expansion for solvent recovery systems. Solvent recycling systems can be used to recover heterogeneous azeotropic solutions, aqueous non-azeotropic solutions, non-azeotropic solutions, and aqueous homogenous azeotropic solutions. Recycling using solvents is a cutting-edge approach to the challenge of rising plastic waste. Solvent-Targeted Recovery and Precipitation (STRAP) processing is a novel technique developed by University of Wisconsin-Madison (UW-Madison) researchers for solvent extraction of the plastics in multilayer plastics. With the aid of a series of solvent washes, plastics are segregated in this method in a commercial multilayer plastic made of polyethylene, polyethylene terephthalate, and ethylene vinyl alcohol.

The Solvent Recycling Market Segmentation:
The global solvent recycling market on the basis of Type, the market is categorized into Off-site Solvent Recycling and On-site Solvent Recycling. On the basis of Application, the market is divided into Printing Industry, Pharmaceuticals Industry, Painting and Coating Industry, and Oil and Chemical Industry. On the basis of the Distribution Channel, the market is segregated into Distributor and Direct Sales.

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The Solvent Recycling Market Regional Analysis:
Plant operators in Western Europe, Japan, and North America are anticipated to hold the lion's share of the market in the coming years due to the considerable emphasis placed by government authorities on adopting sustainable industrial practices. Moreover, the need for solvent recycling equipment in this established region of the world will be fueled by the authorities' attention to the disposal of dangerous solvents as part of their effort to protect the environment. The Asia Pacific region is anticipated to expand quickly as a result of the region's high-growth economies' quick industrialization.

Key players' profiles in the solvent recycling market report are Yang Linhong, Veolia, Tradebe, Shinko Organic Chemical Industry, Nippon Refine, Maratek Environmental, Gage Products Company, CycleSolv, Clean Planet Chemical, Clean Harbors

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