Plastic Sorting Machine Market Size, Share, Growth, and Industry Analysis by Type (Chute-Type Sorting Machine, Belt-Type Sorting Machine), by Application (Plastic Flakes and Particles, Pretreatment Plastics), and Regional Forecast to 2032

Updated On: 22 April 2024

Report Overview

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The global plastic sorting machine market size was USD 197.9 million in 2022. As per our research, the market is expected to reach USD 354.5 million in 2028, exhibiting a CAGR of 10.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with plastic sorting machine market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market growth and demand returning to pre-pandemic levels once the pandemic is over. 

A plastic sorting machine is a device that helps in the parting of numerous types of plastics from mixed materials. Increase in demand for PVC due to its sustainability among other benefits- the environmental benefit being one of them which has led towards augmented practice of these devices to leading to an upsurge in revenue over time. As businesses focus on automating to boost productivity and quality the market is projected to progress at the speediest rate over the forecast period.  Governments are recycling the garbage produced by various businesses in nations in an effort to reduce pollution and save the environment. Recycling alters used plastic goods into recycle. This recycled can be processed in place of virgin material to create new plastic products which themselves can be recycled over after usage. Recycling saves energy and used plastics are often cheaper than virgin material. Though, recycling used plastics is only a profitable venture if the material has formerly been divided into homogeneous elements by colour and type in order to live up to high quality standards.  Categorisation to a high degree of purity means polymers can be re-used and preserve their value. Recycling has a part to play in cutting carbon emissions. Plastic flakes are small pieces of plastics detached after the recycling process. It has an efficient capability to separate different types of plastics in order for them to be recycled into new products and also has high energy efficiency due to its utilization of air pressure instead of mechanical power. Participating are fixing their efforts on encouraging R&D. Technological development are supporting the regional market growth. Companies coming up with progressive technological solutions for firming their positions.

COVID-19 Impact:  Pandemic hampered the market due to unexpected disruption in the sector

COVID 19 pandemic has extremely affected the whole world. It caused many unexpected disruption and affected the industry. COVID 19 had negative impact on the market due to economic slowdown, unpredictability in financial sector and high unstable market. The pandemic resulted in decreased demand due to a disrupted supply chain, drop in sales of products, delivery schedules. Travel bans imposed affected business collaboration and partnership. Demand had recently reduced due to travel bans and lockdown during the COVID-19 pandemic. The continuous loss in the business due to the lockdown measures is projected to directly influence the growth of the investments in the market.

Latest Trends

"Use of innovative products to boost the market growth "

Technological improvement and development will further enhance the presentation of the product, allowing it to obtain a varied range of requests in the market. Technological advancement will improve performance and propel the market growth. Technological advancement with high demand are increasingly setting a force to increase the productivity. Some players focus on product improvement to meet consumer requirements and likings. Constant innovation in manufacturing of products is anticipated to stimulate product demand.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into chute-type sorting machine, belt-type Sorting Machine.

chute-type sorting machine capture the maximum market shares through forecast period.

• By Application Analysis

According to application, the market can be segmented into plastic flakes and particles, pre-treatment plastics.

Plastic sorting machine market players cover segment as plastic flakes and particles will dominate the market share during forecast period.

Driving Factors

"Increase in demand in various activities to boost the market growth"

There is a substantial upsurge in product demand across a variety of end-use industries including the food and beverage, mining, pharmaceutical, and waste recycling sectors. Ecological benefit being one of them which has led towards augmented usage of these devices to leading to a rise in revenue over time.

"Technological advancement and development to upsurge the market."

Technological advancements and innovation activate unique revenue augmenting opportunity which will upsurge the plastic sorting machine market growth. Growing investment in research and development activities and growing awareness about benefits and shifting from physical sorting activities to automated technologies are expected to deliver profitable opportunities for the market. Constant development are one of the trends in the market in variety of practices.

Restraining Factors

"High cost of investment to hamper the market growth"

High cost is hampering development of plastic sorting machine market. Investment cost required for the industry is not affordable for smaller companies. High initial cost, complex procedure and upkeep condition are involved in the restraining factors. Technical difficulties will reduce the industry revenue.

Regional Insights

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"North America to dominate the region due to increasing plastic waste management"

North America is further expected to witness growth in the plastic sorting machine market share. The region is dominating the market due to rising development of plastic waste processing and management policies and a shift in focus towards recycling accomplishments. The rising administrative and environmental concerns regarding plastic waste management and ecological conversation operations. Upsurge in investments by key market players for the R&D undertakings and enlargement of their production abilities and product portfolios are projected to upsurge the growth. The expansion of regional market is being aided by technological developments.

Key Industry Players

"Key players focus on partnerships to gain competitive advantage"

The key players are dynamically contributing in strategic events that are aimed at maintaining strong market position and increasing market share by merger, partnerships and others. Key players are motivated to introduce new innovative products. They are spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market. The market changes are dynamic such as market expansion, partnership and merger.

List of Market Players Profiled

• Hefei Meyer Optoelectronic Technology Inc. (China)
• Sesotec GmbH (Germany)
• Tomra (Norway)
• Pellenc ST (U.S.)
• Hefei Taihe Optoelectronic Technology Co., Ltd. (China)

Report Coverage

The report provides scrutiny and information according to market sectors. Business overview, financial overview, product portfolio, new project launch, recent development enquiry are the factors included in the profile. The report incorporates completely examined and appraised evidence of the noticeable players and their position in the market by methods for various descriptive tools. The report covers national and regional level market size and forecast. The report gives businesses the facility to research new prospect in many areas. The report shows to be an operational tool that players can use to gain a competitive superiority over their opponents and ensure lasting achievement in the market.