Global challenges such as rising environmental concerns, rapidly depleting natural resources, increasing cost of raw materials and growing amount of wastes have forced several industries to adopt recycling strategies. Recycling helps the community and the environment in reducing waste, conserving natural resources, saves energy, prevents pollution and reduces greenhouse gas emissions. The global recycling industry includes sorting recyclable materials, separating them out from non-hazardous materials and also disintegrating them into non-combined materials such as industrial wastes, metals, plastics, papers, chemicals and several others.
Metal recycling market is segmented into ferrous and non-ferrous metal. Ferrous metal segment dominates the global metal recycling market. Iron and steel are the most widely recycled metals among ferrous metals. Iron and steel are used in manufacturing of several equipment and devices such as construction materials, electrical devices, vehicles and industrial machinery. Among non-ferrous metals, aluminium holds the largest market share as recycling process is more cost effective than primary aluminium extraction.
Recycling of plastic is critically important due to their significant impact on global warming and ozone layer depletion. Plastic has a wide range of applications across various industries such as automotive, defence, energy and healthcare. The plastic recycling market is driven by stringent government regulations and growing demand from packaging industry. The recycling companies are installing advanced technologies such as waste-to-energy (WTE) facilities in order to streamline instant waste recycling.
The increasing use of electronic devices, growing amount of industrial waste along with rigid government regulations has led to the emergence of resource circulation equipment (RCE) market. RCE is mainly used to process solid wastes such as paper, metal, plastic and other waste materials found in construction, automotive, electrical and electronics industries.
ASDReport.com has a good collection of reports on recycling market. The reports cover various topics and products related to recycling sector such as waste management, solvent recycling, water treatment, food waste management, medical waste management and much more.