GLOBAL MICROPLASTIC RECYCLING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market News

Recent Development:

• In February 2023, The REMEDIES project, funded by the European Union (EU) and valued at around US$ 8.8 million, set an ambitious goal of collecting over 400 tons of This project aims to address the issue of microplastic pollution in various mediterranean regions by developing advanced systems for recycling, collecting, monitoring, and converting the extracted waste into new products. The primary objective of The REMEDIES project is to establish a sustainable model that effectively mitigates the impact of microplastics. It is a veteran owned small business that focuses on supporting critical infrastructure with specific tools and processes. The services of the company include project management, process improvement, and technology implementation
• In January 2022, Plastipak Holdings, Inc., a global leader in the design, manufacture, and recycling of plastic containers, completed a major investment to expand its PET recycling capacity at its manufacturing site in Bascharage, Luxembourg. The expansion is set to increase the annual production capacity by 136%. Plastipak Holdings, Inc. is a global leader in the packaging and recycling industries. The company designs and manufactures plastic containers for beverages and other products.
• In September 2022, Novolex, a packaging company that manufactures products with paper, plastic, and renewable materials for food packaging, delivery and carry-out, food processing, and industrial markets, unveiled a substantial investment of US$10 million at its North Vernon facility located in the U.S. This investment aims to enhance the facility recycling capacity specifically for plastic bags and other polyethylene (PE) film materials. The new facility is designed to process a staggering 40 million pounds of feedstock annually.