Approximately 80 lakh tons of plastic and plastic waste is discarded into oceans every year; this is leading to increase concern among the people for environment. Thus, several attempts are done to handle this situation and this is augmenting adoption of machines and techniques for plastic recycling. These machines are able to process different waste plastic such as PE, PET, PVC, and PP. However, modern plastic machines or the advanced machines are able to process any type of plastic such as hard, fibers, tear-resistant, bulky, and foamed material. These factors are increasing ease of using the machines and applicability of machines, which is benefiting growth of the global plastic recycling machines market.
Additionally, rising government initiatives and support from government are driving growth of the global plastic recycling machines market. For instance, in 2019, Spark Minda Foundation (SMF) and Rotary Club Panchshila Park Delhi, has installed a waste recycling machine at Delhi High Court. Such initiatives may have a key role to curb plastic pollution in the city and fuel sustainable development of the market.
Rising Demand for Plastic Recycling Machine Drives the Market
Robust use of plastic in several industries and especially across the packaging of consumer goods; rising this demand is likely to create difficulty to dispose it. This is augmenting implication and installation of the plastic recycling machine and in turn benefiting its market growth. Further, recycled plastic has wide ranging applications to manufacture carrier bags, drainage pipe, plastic bottles, and garden sheds. Thus, recycling has proved to be best solution to lower the plastic pollution and save energy, which is propelling growth of the global plastic recycling machine market.
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Additionally, before some years, the plastic generated in the U.S. was recycled by China; but now, China has stopped the plastic recycling for the U.S. Thus, the country has started to recycle their plastic waste by their own. This has boosted the demand for plastic recycling machines in the region. Additionally, growing demand for the advanced plastic recycling machine is estimated to offer opportunities for growth of the market in coming years.
