Recycling Equipment and Machinery Market 2020 Latest Trend, Growth Outlook & Forecast to 2026
Selbyville, Delaware, United States, September 10 2020 (Wiredrelease) Global Market Insights, Inc –:With to the interminable production of plastic, paper products, and metals, the global recycling equipment and machinery market has registered commendable gains over the past several years. These materials are recycled using different types of machines, some of which include shredders, baler presses, agglomerators, shears, and extruders, among various others.
Using recycling equipment and machinery, manufacturers can considerably reduce the cost of production for various products by using recycled constituent materials. Moreover, the growing awareness among people regarding the benefits to the environment by using recycled materials has supported growth trends in the industry over time.
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Governments in various parts of the world have established strict rules regarding the recycling of plastic and other forms of waste. The Australian Recycling Label, which has been endorsed by the Government of Australia provides a simplified way to make the citizens understand the recycling information. It makes it easier for the people to put the right packaging in the right bin reducing confusion, saving time, and reducing the amount of waste going to the landfill.
Reportedly, the recycling equipment and machinery market size is expected to reach the billion dollar mark worldwide by 2026, in terms of annual valuation.
Considerable increase in the amount of ferrous scrap
The iron and steel industry is known to be one of the leading industrial emitters of carbon dioxide, accounting for approximately 4% and 7% of anthropogenic emission levels worldwide. According to a recent report, the use of ferrous scrap in the production of steel in Europe has considerably reduced the carbon emission levels and has reduced the cost of climate change significantly.
Electric devices, containers, automobiles, and construction materials are some of the most common products that are made out of steel, and with the economic improvement over the years, the demand for these products has grown exponentially. A huge amount of automotive-parts, electronic devices, and construction items get discarded globally owing to the wise use of cars, consumer electronics, industrial electronics, and re-development activities.
The recycling equipment industry has witnessed widespread application in the use of ferrous scraps. These materials are regarded as one of the most recycled resources in the world. As per reports, in the year 2016, nearly 65 million metric tons of iron and steel scrap were processed globally in the year 2016.
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Wide adoption of mega- shredders
Many industry players are working towards improving the product offerings to meet the growing demands of the customer base. For instance, Swedish co. Kinnarps AB recently purchased a mega shredder for its furniture production plant. The Universal Shredder FRP is capable of shredding nearly four tons of wood waste per hour from the furniture production plant. Once processed, the waste is used as biomass to generate district heating for the entire area where the plant is based.
Some of the prominent recycling equipment and machinery market providers are Danieli Centro Recycling, GAMMA MECCANICA S.P.A, Suny Group, MTB Recycling, Mortia Holdings Corporation, and Shred-Tech Corporation, among numerous others.
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