Increased revenue or clients are typically top priorities for business owners when setting goals for their organizations. Businesses won’t be able to decide whether or how to accomplish their goal without market research, though. Knowledge of market size, share, and trends is essential to devise business goals for the forecast period. This Plastic Recycling Machine Market research addresses the aforementioned concerns and needs for the business looking for a competitive edge.
The Europe plastic recycling machine market is estimated at US$ 450.3 million in 2023 and is expected to expand at a CAGR of 3.7% during the forecast years of 2023-2033.
Plastic has diverse application across all verticals, which make it a common material with high requirement. For its end-use industries, it is difficult to replace plastic as it possesses certain properties which transcend its alternatives in terms of use. However, excessive plastic use and plastic waste are already a crisis, and the continuous overutilization of plastic leads to irreversible damage to the environment and to humans as well.
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To manage growing plastic waste generation, the use of plastic recycling machines is a preferred solution at the mass level. Plastic recycling machines not only shred plastic into small pieces for easy handling and further processing but also provide raw material to various end-use verticals such as automotive, aerospace, and others, driving the demand for plastic recycling machines.
Emerging economies across Europe also depend upon recycled plastic for their plastic demand as recycled plastic is cost-effective in nature and also meets all the end-use requirements effectively. Technology plays a demand driver role in the market. The aforementioned factors bolster the market’s growth.
Key Takeaways from Market Study
- The Europe plastic recycling machine market is projected to expand at a CAGR of 7% and be valued at US$ 650.2 million by 2033
- The market witnessed a 2% CAGR for the period of 2018-2022
- Germany to dominate the market with a 1% market share in 2023
- Key companies in the market are GENIUS MACHINERY, Aceretech Machinery Co., Ltd, EREMA Engineering Recycling Maschinen und Anlagen Ges.m.b.H, Next Generation Recyclingmaschinen GmbH, Plastics Machinery Group International Ltd., POLYSTAR MACHINERY CO., LTD., Boston Matthews, Herbold Meckesheim GmbH, ZENO, and Lyndex Recycling Systems Limited, among others
- France accounts for the highest CAGR growth during the forecast period i.e., 3% from 2023-2033
Major Players of Industry
- GENIUS MACHINERY
- Aceretech Machinery Co., Ltd
- EREMA Engineering Recycling Maschinen und Anlagen Ges.m.b.H
- Next Generation Recyclingmaschinen GmbH
- Plastics Machinery Group International Ltd.
- POLYSTAR MACHINERY CO., LTD.
- Boston Matthews
- Herbold Meckesheim GmbH
- ZENO
- Lyndex Recycling Systems Limited
“Efforts led by European Union to manage plastic waste effectively to pullulate the demand for the plastic recycling machine in forthcoming years,”
Market’s Key Stratagems
Manufacturers are experiencing high demand as plastic recycling is gearing up to manage huge piles of plastic waste and prevent them from polluting landfills and entering food chains. Government and private organizations are offering tenders to establish plastic waste recycling infrastructure which includes plastic recycling machinery as well.
Market titans focus on winning such contracts which not only support their revenue growth but also offer their brand recognition. Integration of advancing technology in plastic recycling machines to fuel its demand as it reduces the workforce requirement works efficiency multiplies, reduces power consumption, saves on additional cost, enhances output, and others.
