Plastic Recycling Technologies Market - Global Industry Analysis 2023

Applications of recycled plastics are escalating owing to the advancements in superior recycling technologies. However, at the same time, density of waste plastic is projected to increase as well. Moreover, the modern recycling technologies are generally applicable for comparatively well defined waste streams for instance packaging waste. Packaging is called into subsistence because of the demand from manufacturers & distributors to shield their products. Generated waste plastic disposed off in different treatment facilities. Material recycling, incineration & landfills are the most common treatment facilities. Energy recovery and recycling correspond to each other.

Waste-to-energy (WTE) facilities usually pull out recyclable materials such as plastics, paper & glass prior to sending non recyclable wastes to the WTE facility. WTE facilities in North America and Europe have shown higher total diversion rate from landfills and equally higher mechanical recycling rate. The most recycled plastic worldwide is post consumer PET (polyethylene terephthalate), with an improved recovery infrastructure in developed nations. The second most recycled plastic globally is post consumer polyethylene. Recycled PET and polyethylene accounted for almost 70% of total post consumer plastics recycling.

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The plastic recycling market can be segmented based on plastic types that are produced commercially. Thermoset plastics and thermoplastic polymers are the two key groups that prominently exist in the plastic’s market. Polylactic acid (PLA) & polyhydroxyalkanoates (PHA) are the two new groups of plastics derived from corn that are being used to substitute hydrocarbon-derived thermoplastics in a range of applications. Major steps concerned with post-consumer recycling include collection, sorting, cleaning, size reduction and separation. Primary, secondary, tertiary and quaternary are the broad varieties of recycling and recovery methods, which primarily involves mechanical reprocessing into products with certain properties. Tertiary recycling is one of the biological recycling that is composed of biodegradable plastics.

The regional segmentation of plastic recycling market can be done on the basis of flows of plastic waste in terms of imports and exports. The major importers and exporters of plastic recycling market are China, the USA, the Netherlands, Belgium, Japan, Germany and the U.K, wherein China is the largest importing and an exporting country for waste plastics. Shortage of plastic raw material is one of the problems in China, and recycled plastics are important sources, to cover this need. The supply & demand of primary plastics are directly connected to the long term demand of waste plastic in China.

Availability of clean feedstock, coupled with increasing consumer demand, followed by stringent regulations is likely to bolster the market growth. . Dependable detectors & decision and recognition software are the major advancements in the plastic recycling technologies to increase the efficiency and productivity in the plastic recycling sector. Increase in the public awareness has encouraged local authorities and manufacturers for the development of products with recycled substance. The major restraint for plastic recycling market is recycling mixed plastic waste and collection of plastic recyclables. Implementation of policies to minimize environmental impacts can have a huge impact on recycling market. If the variety of materials were to be reorganized then efficiency of post consumer packaging recycling could be considerably increased.

Some of the major players in the plastic recycling market are B & B plastics incorporation, B. Schoenberg & corporation, PARC corporation, Omni resource recovery, Custom polymers incorporation, United plastic recycling, Coll materials/nicos polymers, Maine plastics incorporation, Norwich plastics, APC recycling, NAM polymers etc.

This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include

North America
Asia Pacific
Europe
Middle East and Africa
Latin America

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