Automatic Plastic Recycling Machine Market Size is predicted to represent a 8.1% CAGR during the forecast period for 2024-2031.
An automatic plastic recycling machine turns discarded plastic into recyclable particles or crystals that can be used to make new plastic items. Plastic recycling machinery is mainly used in industries to reduce waste, and growing international firms are penetrating the market. With expenditures, the demand for plastic recycling machines will gradually expand worldwide. The government's activities and developments in the plastic recycling sector to produce recyclable items based on polymers are expected to contribute to the growth of the plastics-based polymeric recycling industry's earnings. Additionally, cutting-edge technologies like incinerator burning technologies minimize the waste produced by plastic polymers, giving developing competitors profitable chances to expand the market.
However, the market expansion is hampered by the high-cost standards for the well-being and security of the automatic plastic recycling machine market and the product's inability to prevent fog in environments with dramatic temperature fluctuations or high automatic plastic recycling machines because research, development, and commercialization of related technologies can be quite expensive. The need for plastic recycling devices across end-user sectors was hampered by supply chain interruptions during the COVID-19 outbreak. Plastic is widely used in many industries, particularly consumer goods and packaging. Nevertheless, the pandemic's decreasing popularity of novel goods due to the products' interrupted supply chain led to a depreciation of market investment, significantly reducing interest in plastic packaging and hampering plastic recycling efforts worldwide.
Competitive Landscape
Some of the Major Key Players in the Automatic Plastic Recycling Machine Market are:
- GENIUS MACHINERY
- Polystar Machinery
- Vecoplan
- KOWIN
- Munchy
- Doll Plast
- B+B Anlagenbau
- EREMA
- Sorema
- Herbold Meckesheim
- Archana Extrusion Machinery
- ASG Recycling
- Other Prominent Players
Market Segmentation:
The automatic plastic recycling machine market is segmented by type and application. By type, it is divided into single-stage and multi-stage plastic recycling machines. By application, it is divided into polyethylene terephthalate (PET), polyvinyl chloride (PVC), polyethene (PE), polypropylene (PP), and others.
Based on the Type, the Single Stage Plastic Recycling Machine Segment is Accounted as a Major Contributor to the Market
The single-stage plastic recycling machine automatic plastic recycling machine category is expected to hold a major global market share in 2023. These machines are perfect for handling hygienic resources like trash from production and unused injection components. Because they can be arranged in a single line alongside different recycling devices, these machines also conserve storage space.
Polyethylene Terephthalate (PET) Segment to Witness Growth at a Rapid Rate
The polyethylene terephthalate (PET) segment is projected to grow rapidly in the global automatic plastic recycling machine market because it is relatively conveniently recycled plastic. PET is used in many products. Researchers and industry participants are actively contributing to the industry's growth of reused PET inventories because of the material's varied qualities and plenty of usage possibilities, especially in countries like the US, Germany, the UK, China, and India.
In the Region, the North American Automatic Plastic Recycling Machine Market Holds a Significant Revenue Share
The North American automatic plastic recycling machine market is expected to register the largest revenue share in the market in the near future. It can be attributed to due to the rising need for polymers in the food packaging and automobile sectors. The need for recyclable plastic machines will be driven by governmental initiatives and strategies to reduce the pace of plastic evaporation and concentrate on producing novel offerings using recovered polymers from plastics. In addition, Asia Pacific is projected to grow rapidly in the global automatic plastic recycling machine market because of its many uses for polymers in the merchandise and packaging industries, as well as its substantial customer base. The popularity of products throughout different sectors is anticipated to benefit from the growing use of plastic polymers in the production of vehicle parts and electronics across businesses.
Recent Developments:
- In March 2024, Vecoplan will assist manufacturers in implementing a sustainable economy. Europe aspires to be environmentally friendly, and polymer recycling plays a significant role in this. The proportion of recyclables is the primary component of the EU packaged goods and material for packaging regulation.
- In May 2024, Coperion and Herbold Meckesheim will introduce cutting-edge goods and manufacturing technologies at the International Food and Agriculture that significantly improve plastic recycling efficiency and produce higher-quality products.
Automatic Plastic Recycling Machine Market Report Scope
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Report Attribute |
Specifications |
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Growth Rate CAGR |
CAGR of 8.1% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, By Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; Southeast Asia; South Korea |
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Competitive Landscape |
GENIUS MACHINERY, Polystar Machinery, Vecoplan, KOWIN, Munchy, Doll Plast, B+B Anlagenbau, EREMA, Sorema, Herbold Meckesheim, Archana Extrusion Machinery, ASG Recycling, and other prominent companies. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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