Plastic waste sorting is a discipline associated with the proper control, storage, allocation, and processing of different type of plastic waste. The market for plastics is expected to witness demand from the various sectors including automotive, healthcare, defense, and energy industries etc. Apparently, market for plastic waste sorting equipment is foreseen to witness considerable growth during the forecast till 2024. The global market for plastic waste sorting equipment is anticipated to be driven from municipalities, recyclers, and government and private organizations. Furthermore, growing industrialization is anticipated to drive the plastic waste sorting equipment market, demanding novel processing equipment.
Depending on the type and material characteristics plastic waste is either directly processed on the site or else taken to the large recycling center. Different contemporary types of equipment are utilized based on the type of materials and dynamic processes incorporated in plastic sorting. Different treatment methods such as optical waste sorting, flotation waste sorting, and densitometry waste sorting, are incorporated in recycling and processing of different plastic types.
Plastic waste sorting equipment simplify plastic waste administration and fast-tracks sorting & processing for plastic recycling maneuvers. Increase in awareness programs towards sustainable waste management practices, reduced environmental impact through plastic recycling, increasing urbanization and industrialization, laws & regulations enforced by the different regional governments are anticipated to serve as major drivers for the plastic waste sorting equipment market. Furthermore, large number of, recyclers are adopting to new and advanced technical solutions and are shifting from physical sorting activities to automated technologies. Besides this, initiatives undertaken by emerging economies and public-private sector partnership in regards ecological protection is anticipated to pose immense opportunities for plastic waste sorting equipment market in the years to come.
On the other hand, restraining factors such as the absence of required infrastructure for plastic segregation & waste collection and limited efforts in the direction of plastic waste management are anticipated to hinder the market growth. Furthermore, initial high capital investments and selection of suitable equipment are some factors that are expected to hamper the plastic waste sorting equipment market growth. Additionally, cost constraints associated with the cheap manufacturing of new plastic equipment in comparison to recycled ones and difficulties in supply chain management activities are anticipated to challenge market dynamics.
Plastic waste sorting equipment’s market can be segmented on the basis of sorting equipment, Based on sorting equipment, the market can be segregated into palletizer, extruder, label separator, vacuum sizing machine, and stretching machines.
Regional administrative authorities are collaborating with both, private vendors and public-sector-based vendors to proliferate the plastic waste processing activities in utmost territories and industry verticals.
Asia-Pacific market is anticipated to be the fastest growing market during forecast period till 2024 owing to the development of plastic waste processing and management policies and a shift in focus towards efficient recycling accomplishments. Additionally, North American and European country including the U.S. and the U.K. are anticipated to grow at a considerable pace in the plastic waste sorting equipment segment due to increasing administrative and environmental concerns regarding plastic waste management, ecological conservation operations.
The top companies in the plastic waste sorting equipment market include Redwave Energy Inc., Tomra Systems ASA, MSS, Inc., Eagle Vizion, ALMO Process Technology, Promeco SpA, Pellenc Selective Technologies, Austin AI, Inc., Sherbrooke O.E.M LTEE and EMS Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.