Efficient recycling technology is becoming increasingly more important and it is estimated that the worldwide recycling equipment and machinery market will exceed US$ 1.2 billion (EUR 1.05 billion) by 2025.
The rising trend of recyclability of materials across sectors including the automotive industry and construction is a ‘major factor’ fuelling the worldwide recycling equipment and machinery industry, according to the new report by Global Market Insights. The estimated value of the international recycling tech sector by 2025, may partly be attributed to the ‘active participation’ of regulatory bodies driving a reduction in greenhouse gas emissions and a smaller carbon footprint.
Good news about balers
Baler presses will dominate the machinery landscape with a 30% share in the overall recycling equipment and machinery market, according to the report. Analysts anticipate that metal baling will record a compound annual growth rate of 5.7% over 2018-2025, with a target revenue of US$ 390 million by 2025.
Plastic tech boost
Meanwhile, the plastic recycling equipment and machinery sector is expected to witness ‘significant gains’ over the coming eight years. This niche market will see a year-on-year growth rate of 6.3% during the 2018-2025 period, with a target revenue of US$ 470 million by 2025. The study points out that an estimated 7.7 billion tonnes of plastic is manufactured across the globe every year; out of which 5.4 billion tonnes is not recycled.
Revenue will be up in China
The Asia Pacific region’s market is forecast to exceed US$ 450 million by 2025, with China as a major revenue earner. The key players profiled in the report include: Danieli Centro Recycling, Lefort, Morita Holdings Corporation, Forrec Recycling, BHS Sonthofen, Mid Atlantic Waste Systems, Idromec Spa, and Roter Recycling.