Plastic Recycling Market 2024: Industry Growth, Competitive Analysis, Future Prospects and Forecast 2030

According to MarkNtel Advisors study the Global Plastic Recycling Machine Market size is projected to reach USD 5.65 billion by 2030 with the estimated to growth-rate (CAGR) of around 7% during 2024-30.

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Key Findings of the Study: Plastic Recycling market

Global Plastic Recycling Machine Market Driver:

Adoption of Recycled Plastic Products – There is a rising public concern about plastic pollution, which leads to the generation consuming sustainable products and addressing plastic pollution. The inclination towards the utilization of recycled plastic is enhancing the Global Plastic Recycling Machine Market. This will facilitate the connection between the global sustainable goals & waste management objectives. Also, the optimum usage of recycled plastic provides further benefits, such as decreasing the production of new plastic wastes that are dumped directly in landfills, hence aiding in conserving the natural resources present in the environment. Additionally, the production of recycled products requires less energy, which would indirectly save the environment from carbon emissions.

Global Plastic Recycling Machine Market Challenge:

Expensiveness of Recycling Machinery – The innovation & advanced technology that helps in reducing the plastic from the environment is available at high prices. This is the major reason behind the limitation in the market growth. These machines are expensive because of the installation, assembling, and transportation expenses, skilled & professional labor costs, etc. Besides this, the high cost of raw materials, complexity of the technology, low economic scale, and other aspects are also hindering the Plastic Recycling Machine Market growth.

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Scope of the Report and Plastic Recycling Market Segmentation:

By Type

• Granulators- Market Size & Forecast 2019-2030, USD Million & Thousand Unit
• Shredders- Market Size & Forecast 2019-2030, USD Million & Thousand Unit
• Extruders- Market Size & Forecast 2019-2030, USD Million & Thousand Unit
• Grinders- Market Size & Forecast 2019-2030, USD Million & Thousand Unit
• Mixers- Market Size & Forecast 2019-2030, USD Million & Thousand Unit
• Sorters- Market Size & Forecast 2019-2030, USD Million & Thousand Unit
• Washing Systems- Market Size & Forecast 2019-2030, USD Million & Thousand Unit
• Drying systems- Market Size & Forecast 2019-2030, USD Million & Thousand Unit
• Pelletizers- Market Size & Forecast 2019-2030, USD Million & Thousand Unit
• Others- Market Size & Forecast 2019-2030, USD Million & Thousand Unit

By Technology

• Automatic- Market Size & Forecast 2019-2030, USD Million & Thousand Unit
• Semi-Automatic- Market Size & Forecast 2019-2030, USD Million & Thousand Unit

By Category

• Single-stage Plastic Recycling Machines- Market Size & Forecast 2019-2030, USD Million & Thousand Unit
• Two-stage Plastic Recycling Machines- Market Size & Forecast 2019-2030, USD Million & Thousand Unit
• Multi Stage Plastic Recycling Machines- Market Size & Forecast 2019-2030, USD Million & Thousand Unit

By Application

• Post-Industrial Recycling (PIR) - Market Size & Forecast 2019-2030, USD Million & Thousand Unit
• Post-Consumer Recycling (PCR) - Market Size & Forecast 2019-2030, USD Million & Thousand Unit
• Improvement Applications- Market Size & Forecast 2019-2030, USD Million & Thousand Unit

By Distribution Channel

• OEMs- Market Size & Forecast 2019-2030, USD Million & Thousand Unit
• Aftermarket- Market Size & Forecast 2019-2030, USD Million & Thousand Unit

OEM (Original Equipment Manufacturer) would account for the largest market share.

Plastic Recycling Market Development:

• February 2024: Buhler Group introduced SORTEX N PolyVision and SORTEX A/B range machine. The new plastic recycling solutions technology machines can help deliver the highest yield in the recycling sector.
• September 2023: Genius Machinery Co., Ltd. introduced its new plastic washing recycling line for the South American Market. The main element of this product is the SQUEEZE DRYER, which can facilitate the company with lucrative growth in the worldwide market.

Geographical Analysis:

By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

North America dominates the Plastic Recycling Machine Market globally and is presumed to have a strong foothold in the forecast years as well.

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