The project report includes Present Market Position and Expected Future Demand, Market Size, Statistics, Trends, SWOT Analysis and Forecasts. Report provides a comprehensive analysis from industry covering detailed reporting and evaluates the position of the industry by providing insights to the SWOT analysis of the industry.
Plastic is a very common material that is now widely used by everybody in this world. Plastic is used in many ways as it is light weight and compact. The maintenance that is required is very less. Common plastic items that are used are bags, bottles, containers and food packages.
A plastic is any one of a large and varied group of materials, which consists of essential ingredient combination of carbon with oxygen, hydrogen, nitrogen and other organic and inorganic elements. While solid in the finished state, at some stage in its manufacture it has been or can be formed into various shapes by flow-usually through the application singly or together of heat and pressure. They play an important role in the economy of all industrially advanced countries.
Though plastic is a very useful material that is flexible, robust and rigid they become waste after their use and they pollute the atmosphere. To protect the environment as well as to take advantage of plastic, recycling procedure is used. Plastic recycling is the process of reprocessing used scrap and waste plastic into new plastic material. Recycling old plastic products uses 20%-40% less energy than manufacturing it from new. To aid the recycling process, plastics come with plastic identification code to identify the different polymers that are used in the manufacture of plastic.
The demand for plastics depends largely on growth in user segments and overall macro-economic growth. It has been seen that the consumption of polymers is closely linked to the economic development of a country. In this respect, plastics are similar to rubber and driven by the same factors. Thus all used plastics will either go for recycling or land filling. If all plastics could have been recycled, we could reduce our oil consumption and save 25% of our landfill space. Plastics waste recycling is considered to be one of the most viable projects all over the world today.
Developed countries like Japan, Korea, reprocess plastic waste in a big way. There are new techniques introduced every day; however, the polymer industry can develop new grades and types of plastics, that too faster than the recycling equipment industry can develop identification & sorting techniques as well as equipment. There is still much that can be done to improve the collection and infrastructure of the recycling industry. Incentives to increase collection and use of recycled or bio based materials come mainly from legislatively mandated initiatives or from positive business climates (such as dramatic increases in oil prices or consumers demand). There is a very good scope and market potential for recycling. New entrepreneurs should venture into this field.
Reprocessed plastic granules are used to produce packing covers, carry bags, buckets and mugs etc. Hence there is a good scope to recycle used plastic scrap to produce plastic granules, subject to guidelines laid down in Environment Act.
Granules are in demand by various industrial units manufacturing plastic products. There is a good scope for selling plastic granules in any part of the country. Granules of different colours also can be produced with the same equipment by separating waste material by colour.
Plastic recycling refers to the process of recovering waste or scrap plastic and reprocessing the materials into functional and useful products. This activity is known as the plastic recycling process. The goal of recycling plastic is to reduce high rates of plastic pollution while putting less pressure on virgin materials to produce brand new plastic products. This approach helps to conserve resources and diverts plastics from landfills or unintended destinations such as oceans.
The Need for Recycling Plastic
Plastics are durable, lightweight and inexpensive materials. They can readily be moulded into various products which find uses in a plethora of applications. Every year, more than 420 million tons of plastics are manufactured across the globe. Consequently, the reuse, recovery and the recycling of plastics are extremely important.
What Plastics Are Recyclable?
There are six common types of plastics. Following are some typical products you will find for each of plastic:
• PS (Polystyrene) – Example: foam hot drink cups, plastic cutlery, containers, and yogurt.
• PP (Polypropylene) – Example: lunch boxes, take-out food containers, ice cream containers.
• LDPE (Low-density polyethylene) – Example: garbage bins and bags.
• PVC (Polyvinyl chloride)—Example: cordial, juice or squeeze bottles.
• HDPE (High-density polyethylene) – Example: shampoo containers or milk bottles.
• PET (Polyethylene terephthalate) – Example: fruit juice and soft drink bottles.
Looking Ahead
Recycling is critical to effective end-of-life plastic management. Increasing recycling rates have resulted from greater public awareness and the increased effectiveness of recycling operations. Operational efficiency will be supported by ongoing investment in research and development.
Recycling of a greater range of post-consumer plastic products and packaging will further boost recycling and divert more end-of-life plastic wastes from landfills. Industry and policymakers can also help stimulate recycling activity by requiring or incentivizing the use of recycled resin versus virgin plastics.
The global Recycled Plastic market is projected to grow from US $44.03 billion in 2021 to US $76.23 billion in 2028 at a CAGR of 8.2% in forecast period.
It is intended to prepare a Feasibility Report to install a Reprocessed Plastic Granules production facility with an installed capacity of 450000 Kgs/Year as a Green Field Project.
