Waste is now a global problem, and one that must be addressed in order to solve the world's resource and energy challenges. Plastics are made from limited resources such as petroleum, and huge advances are being made in the development of technologies to recycle plastic waste among other resources. Mechanical recycling methods to make plastic products and feedstock recycling methods that use plastic as a raw material in the chemical industry have been widely adopted, and awareness has also grown recently of the importance of Thermal recycling as a means of using plastics as an energy source to conserve petroleum resources.
Plastic, in many applications, can do a better job at a lower cost than other materials. Each plastic should be selected on the basis of its properties. Thus, each plastic is not an answer to all problems. Here in this project report we have considered Ten Plastic materials, out of that major four plastic materials have LDPE, HDPE, PP, Pet bottles and Derlin. Industrial applications like various components for Textiles, Transport Containers, Storage Containers, Bottle crates, Galvanized components for Automobiles and plumbing, woven sacks for packing a variety of products like fertilizers, powdered chemicals, pesticides, etc. sheet lining of Tanks/Vessels for chemicals.
Plastic recycling refers to a process that is performed either mechanically or chemically to recover plastic waste from discarded items for production of reusable plastic. The global plastic recycling market has been gaining a steady momentum over the past few years due to the growing awareness about carbon emissions and the need to reduce them. Citing this reason, the report states that the global plastic recycling market, which was valued at US$31.5 bn in 2015 is expected to reach a figure of US$56.8 Bn by 2024. During the forecast period of 2016 and 2024, the global market is expected to progress at a CAGR of 6.9%.
The market is witnessing growth because of a growing preference for recycled plastics over virgin plastics as a results of severe pollution caused by the disposal of used plastics in oceans and therefore the scarcity of landfill areas in many countries. Factors such as increasing use of recycled plastics in many new applications within the packaging, automotive and therefore the electrical & electronics industry and lots of favorable initiatives promoting the utilization of recycled plastics worldwide offer lucrative opportunities for the expansion of the recycled plastics market. Higher cost of recycled plastics. Stringent competition with virgin plastics in terms of performance may be a major factor restraining the growth of the market. The ban on import of certain waste plastic scraps to China and irregular collection of the waste plastics for its reprocessing are a number of the factors challenging the expansion of the worldwide recycled plastics market globally. Entrepreneurs who invest in this project will be successfull
Few Indian major players are as under
Garden Polymers Pvt. Ltd.
Himalayan Packaging Inds. Pvt. Ltd.
Kkalpana Industries (India) Ltd.
South Asian Petrochem Ltd.
Renaissance Corporation Ltd.
Jain Plastics & Chemicals Ltd
