PLASTIC RECYCLING MACHINE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• In February 2024, Bühler Group which is a plant equipment manufacturer, introduced new plastic recycling technology, including the SORTEX N PolyVision and SORTEX A/B machines. It is designed to produce high-quality PET flakes efficiently.
• On January 16, 2024, Coca-Cola India beverages company and Reliance Retail a retail company, launched a PET collection and recycling initiative called 'Bhool Na Jana, Plastic Bottle Lautana.' This project includes reverse vending machines and collection bins in Reliance Retail stores across Mumbai, with plans for nationwide expansion.
• In September 2023, Genius Machinery Co., Ltd. launched a new plastic washing recycling line for the South American market, featuring the screw press dewatering machine (Squeeze Dryer) to expand its product portfolio and revenue
• In March 2022, ICMA SANGIORGIO helped SABIOMATERIALS to scale up its production of biodegradable polymers by supplying an additional compounding line, aiming to meet the growing demand for sustainable plastics
• In January 2021, Unilever and Alibaba Group developed an AI-enabled recycling system to automatically identify and sort plastic packaging, aiming to enhance plastic recycling in China and promote a circular economy.