In recent years, the urgency to address environmental concerns has led to a surge in initiatives aimed at bolstering recycling efforts worldwide. From advanced sorting systems to innovative materials and equipment, the technology within can be key to unlocking the potential to amplify the efficiency and effectiveness of recycling processes. Chris Dow, Business Development Manager at Coperion’s Recycling business unit, explores how technology is revolutionising the recycling market, unlocking new opportunities for growth and sustainability.
The global market for Plastic Recycling*, initially recorded at US$48.9 Billion in 2022, is anticipated to achieve a revised size of US$86.7 Billion by 2030*. The market is witnessing robust expansion with an impressive compound annual growth rate (CAGR) of 7.4% from 2022 to 2030**. To capitalise on this growth as manufacturers, we should focus investment in technology to help create global solutions.
First, let’s look at sorting systems. Traditional recycling plants often rely on manual labour for sorting materials, a process prone to errors and inefficiencies. However, the integration of smart sorting systems has revolutionised this aspect of recycling. These systems are designed to identify and sort various materials based on their composition, shape, and size, streamlining the recycling process and minimising contamination. Enhanced sorting efficiency, enabled by technology, helps to ensure higher-quality recycled materials, thus increasing their market value and demand.
Next is using technology for traceability of materials. Transparency and traceability are crucial in ensuring the integrity of recycled materials throughout the supply chain. New integrated technology offers a decentralised and immutable platform for tracking recyclables from collection to processing and beyond. By recording each transaction and movement of materials, stakeholders can have visibility into each step of the recycling process, fostering trust and accountability. This transparency can help combat illegal dumping and fraud and facilitate the creation of certified recycled products, thereby expanding market opportunities for sustainable goods.
Another interesting area to consider is 3D Printing and Circular Economy. 3D printing, also known as additive manufacturing, has emerged as a disruptive force in the manufacturing industry. By utilising recycled materials as feedstock, 3D printing promotes the principles of a circular economy, where resources are reused and recycled indefinitely. Advanced recycling technologies, such as filament extrusion systems, enable the transformation of plastic waste into high-quality filaments suitable for 3D printing. This not only reduces the demand for virgin materials but also opens up new avenues for revenue generation in the form of recycled filament production and customised 3D-printed products.
From a bigger manufacturing equipment perspective, we also envision a better long-term value proposition (via lower energy costs and fewer decontamination issues) by investing in end-to-end processing technology from sorting to extrusion. By taking a complete circular solution view on the source materials through to valuable recycled product, the industry can tackle some of the world’s most difficult processing challenges. Investments such as twin screw extrusion technology in the recycling process also can enable the ability to process problematic feedstocks and improve throughput and decontamination. We have two centres of excellence dedicated to showcasing the best global recycling solutions, and customers can now tailor-make solutions while bringing the industry to the next level.
In conclusion, the integration of technology into the recycling industry represents a paradigm shift in how we approach waste management and environmental conservation. These innovations are driving efficiency, transparency, and engagement across the recycling value chain. As we embrace these advancements, we not only unlock new opportunities for market growth but also move closer to building a more sustainable and circular economy for future generations.
*/** Source: https://www.researchandmarkets.com/r/g1f74k