The global Recycling machinery and equipment market is pre-eminently being driven by the rising need to curb the greenhouse gas emissions and the increasing awareness across various business verticals to incorporate recycled materials in their manufacturing processes to develop sustainable products. Regulatory authorities and governments across various nations have been framing stringent laws to encourage recycling of non-biodegradable materials and the development of advanced recycling techniques. Concurrently, using recycled materials in manufacturing processes has been proved to aid in lowering the CO2 emissions from furnaces involved in producing plastic, steel, and rubber products. In addition to this, the Recycling machinery and equipment industry has assisted manufacturers to significantly cut down the production cost, especially in manufacturing ferrous products.
U.S. Recycling Equipment & Machinery Market Size, By Machine, 2014 – 2025 (USD Million)
As a result of the burgeoning automotive industry across the globe, an enormous amount of auto-parts is being illegally dumped in sensitive habitats like lakes and rivers. The scrap rubber tires are amongst the major auto-parts which are being discarded in a manner that has damaged the environment in more ways than one. Numerous environmental organizations have been critical of this practice and have made strong appeals for recycling of scrap rubber tires. For the record, a rubber tire is a composite, highly-engineered product that is said to be virtually indestructible under various conditions which makes it quite difficult to recycle effectively. However, the Recycling machinery and equipment industry players have been investing heavily in technologies to develop advanced machines like tire shredders to ease the process of tire recycling.
Speaking in the similar context, the statistics published by the Institute of Scrap Recycling Industries Inc. (ISRI), USA are a testimony to the growing prominence of the products being offered by the Recycling machinery and equipment market in the overall global recycling industry. According to ISRI, which is the world’s largest recycling association, the U.S. recycling industry processed a humongous 136 million scrap tires in the year 2016. Apparently, the recycled scrap tires are increasingly being utilized in manufacturing rubberized asphalt, equestrian mats, playground surfaces, and new rubber tires as well. Consequentially, a gradual increase in the recycling of scrap rubber tires and the rapid enhancements in recycling techniques is certain to open up innumerable opportunities for the firms partaking in Recycling machinery and equipment industry in the forthcoming years.
Apart from the ubiquity of rubber, the explosive growth in the manufacturing of plastics has necessitated that these materials are recycled in an environmentally-responsible manner. As per reliable estimates, the annual plastics production around the world reached 322 million metric tons from 230 million over 2005 to 2015 – figures that have alarmed the recycling industry about the state of systems and technologies being currently deployed to recycle plastics. In this regard, the use of high-grade tools such as baler presses, agglomerators, extruders, and granulators which are offered by Recycling machinery and equipment market players is quite effective in recycling plastic waste. Apparently, as the world has been observing an unprecedented usage of plastic products, the Recycling machinery and equipment industry could garner tremendous revenues from paper recycling in the times to come.
Owing to exceptional rise in e-commerce & export activities in developed and emerging nations alike, the demand for recycled paper has witnessed a drastic uptick across various regions in the recent times. Environmental experts believe that it is quite imperative to integrate materials containing high levels of recycled paper due to their numerous benefits over other disposal alternatives. As per some estimates, recycling one ton of paper saves up to 3.5 cubic metres of landfill space, 26,000 litres of water, 270 litres of oil, 4,000 kWh of energy, and 31 trees which underscores the significance of recycling used paper. Since the pulp and paper industry is a large contributor toward the problem of deforestation, soil, and water pollution, recycling paper on a wide-scale has emerged as the need of the hour and requires extensive involvement of the overall Recycling machinery and equipment market.
Projected to surpass an overall remuneration of USD 1.2 billion by 2025, the Recycling machinery and equipment industry is constituted of major firms like Idromec Spa, Mid Atlantic Waste Systems, BHS Sonthofen, Forrec Srl Recycling, Morita Holdings Corporation, and Lefort among others.