Recycling Equipment Market Trends

  • Report ID: 6337
  • Published Date: Aug 23, 2024
  • Report Format: PDF, PPT

Recycling Equipment Market Trends

Growth Drivers

  • Growing need for recycling hazardous materials: The U.S. Environmental Protection Agency (EPA) has identified and categorized under the F, K, P, and U lists of the Code of Federal Regulations. The F-list comprises hazardous wastes from common industrial and manufacturing processes including spent and electroplating solvents, and other metal finishing wastes. Furthermore, the EPA has classified the producers of these wastes as large-quantity generators, which include industrial processes that generate 2,205 lbs. of hazardous waste every month, small quantity generators with byproducts between 220 lbs. to 2,205 lbs, and very small quantity generators that produce less than 220 lbs. per month.

    Metal scrap is typically coated with cutting fluid, with potentially hazardous compounds such as paint waste, degreasers, lubricants, cutting fluids, and wastewater pretreatment sludges. Furthermore, depending on the cooling lubricant used and metal type swarf, grinding fines, shavings, and other metal waste could also be considered unsafe and lead to health problems. Metal scrap and fluid separation separating machines cater to the above-mentioned challenges and facilitate cost-saving by decreasing the total scrap weight that needs to be hauled away. This further creates an opportunity to reuse cutting fluids.

    Furthermore, the introduction of automated equipment solutions for scrap segregation and recycling has aided in streamlining the overall process. The NxtCut mid-market scrap shear launched by Lindemann in August 2024 is designed to automate the processing of moderate volumes of assorted scrap metal. NxtCut 1025-8 variation caters to bulky mixed steel scrap using advanced structural analysis and an enclosed magnetostrictive pusher cylinder. Its energy efficiency aligns with the company’s commitment of ‘green steel cycle’. Focus on sustainability has gained traction to combat compliance consequences in cases of hazardous fluid leaking into the environment.
  • Increasing government initiatives to reduce carbon emissions: Governments of various countries have initiated programs to help reduce greenhouse gases and carbon footprints to mitigate the associated health risks. For example, the EU has set goals for its 27 Member States, targeting an increased rate of recycling and a reduced landfilling rate by 2025, making 55% of waste and 65% of packaging waste recyclable or reusable.  Hence, the programs are accompanied by increased demand for equipment and technology for recycling to encourage sustainability.  

    This is further expected to protect the available natural resources and the amount of waste that might end up in landfills is also anticipated to be reduced. Furthermore, the availability of landfills is limited, and the amount of waste generated by increasing populations and consumerism is surging. Hence, governments are encouraging recycling practices through the implementation of laws such as landfill levies, landfill bans, and recycling targets.

    Collaborative efforts among governments, businesses, and communities are vital to facilitate a conducive approach toward recycling. Initiatives such as extended producer responsibility programs and deposit-return schemes incentivize responsible recycling practices, thereby allowing the transition toward a circular economy. The ongoing efforts to support sustainable industrial process are projected to drive the recycling equipment market growth.

Challenges

  • Products made from recycled material lack quality: The quality of recycled aggregate (RA) is often compromised owing to its intrinsic porosity. The possibility of materials losing their essential physical and functional qualities hampers recycling equipment market adoption. However, the reinforcement of RA with permeable crystalline materials has showcase promising potential to attenuate this challenge and play a key role in the sustainable development of future constructions.  

Recycling Equipment Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

5.6%

Base Year Market Size (2023)

USD 27.3 billion

Forecast Year Market Size (2036)

USD 52.5 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, South Korea, Australia, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Author Credits:  Richa Gupta


  • Report ID: 6337
  • Published Date: Aug 23, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of recycling equipment was over USD 27.3 billion.

The market size for recycling equipment is anticipated to cross USD 52.5 billion by the end of 2036 expanding at a CAGR of 5.6% during the forecast period i.e., between 2024-2036.

The major players in the market are General Kinematics Corporation, Lidl US, LLC, Recycling Equipment Manufacturing, Inc., Charoen Pokphand Group, and others.

The plastic segment is anticipated to generate a share/size of 35.3% during 2024-2036.

The Asia Pacific recycling equipment sector is poised to hold 40.3% share by the end of 2036.
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