As global efforts to promote plastics recycling intensify, the stage has now been set to adopt recycling technologies as a viable solution to this environmental concern.
Without urgent action, global waste will increase by 70% on current levels by 2050, according to a World Bank report on solid waste management. Driven by rapid urbanization and growing populations, global annual waste generation is expected to jump to 3.4 billion tonnes over the next 30 years, up from 2.01 billion tonnes in 2016, the report finds. The report further stated that the East Asia and Pacific region is responsible for generating close to a quarter (23%) of all waste.
Thus, it has become apparent that the recycling equipment and machinery market is majority driven by the growing awareness of industries such as automotive, industrial machinery, building and construction on the benefits of using recycled materials in their final products. The need to urgently curb green house emissions has also resulted in the development of eco friendly materials which will reduce the carbon foot print globally. In addition to this, stringent laws and regulations imposed by local governments especially in developed regions of Europe and North America will fuel the recycling equipment and machinery demand, according to a report by Global Market Insights, Inc. The report further estimates the recycling equipment and machinery market size to reach $ 1.2 billion by 2025. Asia Pacific is the largest market for recycling equipment and machinery as majority of plastic recycled is imported and processed in China. Other important markets for recycling equipment and machinery are South Korea, Malaysia, Singapore, Thailand, Australia. Asia Pacific recycling equipment and machinery market will grow at around 6% and will surpass $450 million by 2025.
Recent developments point towards eco-friendly and economical recycling where machines are on the route to being able to process and reprocess even multi-material waste.
Reprocessing of mixed waste
Esta historia es de la edición October 2018 de International Plastics News for Asia.
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Esta historia es de la edición October 2018 de International Plastics News for Asia.
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