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Plastics recyclers may enjoy positive business outlook

Automatic sorting solutions for plastic scrap globally hit US$ 15 billion (EUR 14.2) in 2023. This segment of recycling technology is expected to see steady growth in the years ahead, according to market analysts.

Transparency Market Research reveals that automatic plastics recycling will be worth US$ 40.7 billion by 2034, a 7.6% compound annual growth over the next decade.

This growth follows the maturing plastics recycling market, which was worth US$ 45 billion in 2023. It is likely to reach US$ 129.5 billion by 2034.

Regions such as Europe and North America are leading the way with comprehensive policies and investments, while Asia Pacific is emerging as a key growth area due to the region’s significant plastic consumption and waste generation.

Heavy investment

Drivers for plastics recycling systems are the growing adoption of advanced sorting and processing technologies, alongside stringent regulations for better recycling practices.

‘Governments and private sectors are investing heavily in recycling technologies to combat growing plastic pollution,’ the analysts note. ‘For example, the European Union introduced new packaging regulations in April 2024 to promote recycling and reduce waste. Such measures are expected to accelerate the adoption of automated recycling systems globally.’

Premium quality

Automatic plastic recycling systems leverage technologies such as near-infrared sorting, robotics, and self-cleaning filters help to efficiently process plastic waste. These systems ensure accurate polymer identification and enhance the quality of recycled materials, meeting the increasing demand for eco-friendly products across industries.

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