- It is predicted that the market for plastic recycling machines in Europe will be valued at US$ 450.3 million in 2023 and will grow at a CAGR of 3.7% to US$ 650.2 million by the end of 2033. The primary factor driving the growth of the European plastic recycling machine market is the increasing awareness about plastic waste management. The European Union has set ambitious goals to reduce plastic waste, which is driving the demand for plastic recycling machines in the region. Additionally, the rising demand for recycled plastic materials in various end-use industries, such as packaging, automotive, construction, and consumer goods, is also fueling the growth of the market
- Based on machine type, the European plastic recycling machine market is segmented into extruder, injection molding machine, and others. The extruder segment is expected to dominate the market during the forecast period due to its high efficiency in recycling different types of plastic materials. On the basis of application, the market is segmented into packaging, building & construction, automotive, textiles, and others. The packaging segment is expected to hold the largest share of the market due to the increasing demand for recycled plastic materials in the packaging industry
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- Key Takeaways from Market Study
- The primary factors driving the growth of the market are the increasing awareness about plastic waste management and the rising demand for recycled plastic materials in various end-use industries.
- The extruder segment is expected to dominate the market during the forecast period due to its high efficiency in recycling different types of plastic materials.
- The packaging segment is expected to hold the largest share of the market due to the increasing demand for recycled plastic materials in the packaging industry.
- The market is highly competitive, with several international and domestic players operating in the region.
- Some of the key players in the market include EREMA Engineering Recycling Maschinen und Anlagen GmbH, Vecoplan AG, NGR Next Generation Recyclingmaschinen GmbH, AMUT GROUP, and STADLER Anlagenbau GmbH, among others.
- The European plastic recycling machine market is expected to continue growing at a steady pace during the forecast period, driven by the rising demand for plastic recycling machines from various end-use industries.
- Key Stratagems by Market Players
- To satisfy the needs of the end user and increase their market share in order to achieve high profit margins, market players are implementing a variety of organic and inorganic strategies.
- technology customization and integration to support the market’s outlook for growth and help with revenue growth. Long-term business ties with the government and domestic plastic waste management facilities also help manufacturers maintain their position as market leaders.
- Key Companies Profiled
- GENIUS MACHINERY
- Aceretech Machinery Co., Ltd
- EREMA Engineering Recycling Maschinen und Anlagen Ges.m.b.H
- Next Generation Recyclingmaschinen GmbH
- Plastics Machinery Group International Ltd.
- POLYSTAR MACHINERY CO., LTD.
- Boston Matthews
- Herbold Meckesheim GmbH
- ZENO
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Lyndex Recycling Systems Limited
