Recycled Plastic Granules Market, By Product Type (PP Granules, PE Granules, HDPE Granules, LDPE Granules, Polycarbonate Granules, Polystyrene Granules, and Others), By Application (Automotive, Consumer Product, Textile, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Feb 2025

Code : CMI5112

Pages :121

Formats :

Excel and PDF

Industry : Polymers and Resins

Market Challenge - High costs associated with the recycling process and technology

This market is facing significant challenges due to the high costs associated with plastic recycling process and technology. Recycling plastic requires multiple steps of sorting, cleaning, and processing the used plastic into fluid and feedstock. This recycling process is complex and requires sophisticated machinery. The machinery and equipment needed for sorting, cleaning, and processing used plastic comes with very high initial investment costs. Additionally, the maintenance and operation of these recycling plants incurs substantial operating expenses.

Market Opportunity - Innovations in recycling technologies enhancing efficiency and effectiveness

This market is witnessing significant new opportunities arising from ongoing innovations in recycling technologies. Carbios has developed an enzymatic recycling technology that breaks down PET plastics into their original building blocks, which can then be used to produce new, high-quality plastic. New melt filtration and degradation techniques are helping produce higher quality recycled plastic granules from mixed plastic waste streams. Emerging recycling robotics and automation are optimizing operations and reducing labor costs.