Recycling Equipment & Machinery Market Analysis

Recycling Equipment & Machinery Market Analysis

Baler press segment is likely to have a significant share of overall market throughout the forecast time period. This is due to large amount of plastic wastes including biodegradable and non-biodegradable materials, that can be recycled into bales using these machines. Further, baler presses are cost effective in compressing waste into bales and also minimize the convenience charges required to transfer the plastic waste.
 

Shredders will also be growing at a considerable rate in the forecast time period due to its increasing demand for the off-road tire (OTR) sector in the coming years. Proliferating mining sector in major countries including Brazil, India, China, etc. will further propel the industry growth throughout the study period.
 

Plastics, ferrous & non-ferrous materials, wood, paper, cardboard and rubber are the key materials processed by recycling equipment and machinery. Plastics accounted for more than half of the total share of recycling equipment & machinery market in 2018. Growing concerns over the plastic wastage and environmental degradation are likely to be key driving factor for increasing adoption of these materials. Recycled plastics will capture significant attention, as out of total plastic waste nearly 10% of the plastic waste gets recycled every year around the globe. Increasing government intervention for conservation of landfills in developed countries will drive the market development in the forecast time period.
 

Ferrous & non-ferrous metals will have the second highest share of the overall industry in the coming years. Increasing urbanization & industrialization across the globe are creating the requirement for more ferrous & non-ferrous materials. Recycling of these materials offer greater advantages including low energy consumption and greenhouse gas emission, which will further drive its consumption in the various end-user industries.
 

Europe faced increasing concerns over plastic wastage in countries including Germany, UK, and Netherlands. In 2016, European countries collected more than 25 million tons of plastic waste, out of which around 8.5 million tons of plastic was recycled. Plastic packaging waste accounted for more than 60% of share of total plastic waste collected in the same year. New packaging law proposed by the parliament in Germany are likely to reduce the plastic wastage in the coming years.
 

Asia Pacific will also hold a significant share of the overall industry in the forecast time period. Growing industrialization and increasing plastic waste generation within the region are responsible for the industry growth. China reported around 11% increase in the recycling of plastics and metals in 2017 over the previous year. Moreover, the country has imposed a ban on plastic waste imports all over from the world in order to reduce pollution caused by plastic. These trends are likely to create an opportunity for the development of recycling facilities within other countries of the region, which will further create recycling equipment & machinery market demand in future.