Generally, Plastic Recycling is a process of amassing waste or scrap plastic and recycling them into useful products. The plastic recycling process contributes to the greater cause of conserving environmental resources or saving oceans and seas from harmful pollutants.
Plastic recycling is a six-step process which include collecting, sorting, shredding, cleaning, melting, and making pellets.
Owing to the recent environment preservation campaigns, plastic recycling market has seen a promising growth rate during the past years.
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The Most Recent Developments in the Plastic Recycling Industry
With the newer innovations in the realm of recycling technologies, the plastic recycling process has become more cost-effective and hassle-free.
Reliable detectors, sophisticated decision, and recognition software are some of the technological approaches that are helping enhance the productivity, efficiency, and accuracy of automatic sorting of plastics.
Inventing higher value applications for recycled polymers in closed-loop recycling processes is another important innovation of plastic recycling process.
There processing of non-bottle plastic packaging has become reasonable, because of the latest developments in the washing or cleaning and sorting technologies.
Latest News related to Merger and Acquisition
As per a recent report by Research Dive, the leading players of the plastic recycling market include Clear Path Recycling, REPLAS, PLASgran Ltd, Reprocessed Plastic Inc., Envision Plastic Industries LLC,CarbonLITE Industries, KW Plastic Inc., Luxus Ltd,B.SCHOENBERG & CO., INC., Wellman Advanced Materials,Advanced Environmental Recycling Technologies Inc., Custom Polymers, Kuusakoski, and wTe Corporation.
These market players are adopting several smart strategies including product innovation and launches, current technology upgradation, mergers and acquisitions, and partnerships and collaborations to grab the highest market size.
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Here’s a few recent news impacting the plastic recycling market:
• Mitsubishi Chemical Corporation is going to acquire two engineering plastics recyclers of Switzerland--MingerKunststofftechnik AG and Minger Plastic AG respectively through its group company Mitsubishi Chemical Advanced Materials. This acquisition has been made as a part of the company’s efforts to endorse the circular economy.
• Association of Plastic Recyclers has acquired Resource Recycling, Inc., the producer of a number of recycling trade publications and conferences.
• According to a recent news, Ascend Performance Materials, the largest fully-incorporated producer of polyamide 66 resin has recently signed a memorandum of understanding (MoU) withPoliblend and EssetiPlast GD from D’Ottavio Group.
• This purchase by Ascend consists of a manufacturing unit in Mozzate, Italy, the masterbatch portfolio of EssetiPlast GD and the engineering plastics portfolio of Poliblend.
• Byzen Digital Inc. recently announced about its merging with Clean-Seas, a Delaware corporation. This merge is focused mainly at the world’s growing waste plastic crisis. Byzen will cease operations as a digital holding company and Clean-Seas will take over the Byzen operations allowing the combined company to focus on the global waste plastic crisis.
• Graf Industrial Corp. (NYSE: GRAF; GRAF WS; GRAF U), a special purpose acquisition company ("GRAF"), proclaimed recently that it is in negotiations relating to a potential business combination with a polypropylene recycling company (the "Target"), pursuant to which the Target would become a publicly traded company (the "Transaction").
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