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Recycling Equipment and Machinery Market to phenomenally drive the global landscape over forecast timeframe

Author : Rahul Varpe | Published Date : 2019-08-08 

Global Market Insights add New Recycling Equipment and Machinery Market report provides in-depth information about market overview, top vendors, Key market highlights, product types, market drivers, challenges, trends, industry landscape, size and forecast, five forces analysis, Key leading countries/Region.

Owing to the interminable production of plastic, metal and paper products, the global recycling equipment and machinery market has gained remarkable growth in recent years, with an estimated remuneration of over USD 750 million in 2017. The facility to recycle waste using baler presses, shredders, aggregators, among other equipment to help in reducing the impact of non-biodegradable materials on the environment has certainly advanced the developments of recycling techniques.

The recycling equipment and machinery industry has enabled manufacturers to reduce the cost of production for various products using recycled constituent materials, especially in producing ferrous products. Additionally, using recycled raw materials contribute in the reduction of CO2emissions from furnaces or other manufacturing processes involved in producing steel and plastic products.

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Reportedly, CO2 emissions can cut down by up to 58% by using ferrous scrap in the manufacturing of steel, a statistic that proves favorable for the recycling equipment and machinery industry. Further, around 40% of world’s steel is produced from scrap and while making steel from recycled materials 74% lower energy is used up, new raw materials required are reduced by 90% and there is also considerable reduction in release of pollutants.

Electric appliances, construction materials, containers, and automobiles are the most common products made out of steel and with the growing population, demand for these products can be expected to rise exponentially. Reports indicate that automobile frames consist of at least 25% recycled steel whereas basic electrical appliances are said to contain recycled steel up to 75%, attesting the expansion of the recycling equipment and machinery market.

A large amount of auto-parts, electronic devices and construction materials get discarded worldwide as result of increase in utilization of cars, electrical appliances and infrastructure re-development activities. Subsequently, ensuring the proper treatment and usage of ferrous scrap materials has highlighted the application scope of the recycling equipment and machinery industry.

Apart from metal scrap, the swelling volume of plastic waste or surplus has fueled widespread initiatives by governments and businesses to adopt efficient recycling methods for minimizing disposal into the surroundings. Irrespective of the color, size and shape of plastic goods, an industrial shredder can help to convert each part of the product into useful material, making the shredder an indispensable tool offered by the recycling equipment and machinery market.

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Projections made by Europe’s National Union of Rubber and Polymers show that by 2023 the total rubber waste produced could reach 5.3 million tons. As rubber is recyclable and useful in a variety of applications, communities and businesses have undertaken huge efforts to encourage rubber recycling. For instance, Emmet County in Michigan, USA had initiated a drive in May 2018 where people could dispose of old tires for recycling without any cost. To be run until August 21, the initiative provided an opportunity to people having dozens of abandoned tires, agricultural tires and worn out bicycle tires to dispose them off efficiently. As part of this drive, CM Rubber Technologies will shred all the tires and purify the rubber, which can be later used in making playground covers, variety of mats, rubber-modified asphalt and other landscaping material.

In consequence, the Emmet County’s tire recycling enterprise demonstrates the massive growth opportunities available for shredders in the recycling equipment and machinery industry. Market trends are indicative of the rising popularity of tire-derived fuels and rubber-based pavement materials produced from shredded tires, which have in turn inspired developments and innovations in the industry. The recycling equipment and machinery market could garner tremendous revenues from rubber recycling through tire shredders, as the world is seeing an unprecedented consumption of automotive products.

Slated to witness an impressive 6% CAGR from 2018 to 2025, the recycling equipment and machinery market is constituted of key participants like Lefort, Morita Holdings, BHS Sonthofen, Mid Atlantic Waste Systems, Danieli Centro Recycling, Idromec Spa and many others.

Read More News - https://medium.com/@marketnewsforecast/structural-steel-market-report-2019-top-players-are-arcelormittal-posco-voestalpine-severstal-457d5202742e

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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