Market Overview:
The global hyperspectral imaging for plastic recycling market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing awareness about environmental pollution and the need for sustainable development. In addition, the growing demand for recycled plastics across various industries is also contributing to the growth of this market. The global hyperspectral imaging for plastic recycling market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into visible + near infrared light, short-wavelength infrared, and others segments. The visible + near infrared light segment is expected to hold a major share in this market due to its ability to detect different types of plastics with high accuracy. On the basis of application, it can be classified into PET (polyethylene terephthalate), PVC (polyvinyl chloride), PA (polyamide), HDPE (high-density polyethylene), PP (polypropylene) and others segments.
Product Definition:
Hyperspectral Imaging for Plastic Recycling is the process of using imaging technology to identify and sort plastics by their chemical composition. This technology can be used to separate different types of plastic from each other, making it easier to recycle them.
Visible + Near Infrared Light:
Visible light is the part of the electromagnetic spectrum that we can see with our eyes. The near infrared region of the visible light spectrum has wavelengths between 400-700 nm. Near infrared (NIR) radiation is used for various applications such as remote sensing, food quality inspection, and monitoring forest fires.
Short-Wavelength Infrared:
Short-wavelength infrared (SWIR) is a part of the near-infrared spectrum with a wavelength between 8.0 to 14.5 mm. It is used in hyperspectral imaging for plastic recycling as it provides high contrast between different plastics and also allows separation of similar looking chromophores, which cannot be achieved using traditional techniques such as bimodal reflectance spectroscopy or near-infrared fluorescence microscopy.
Application Insights:
The plastic recycling market is segmented based on the type of plastic used for recycling, namely PET, PVC, PA, HDPE PP and other plastics. The others segment includes polycarbonate and polypropylene. The application of hyperspectral imaging for recycled plastics is increasing due to several advantages such as high-quality images with enhanced contrast ratio and identification ability.
The major applications include PET (polyethylene terephthalate) which is a lightweight polymer widely used in bottles & packaging industry owing to its clarity & durability properties. It also finds application in the automotive industry as window glazing material owing to its transparency characteristics along with excellent optical quality & low cost making it an ideal choice over conventional glass counterparts globally including North America region especially U.S.
Regional Analysis:
Asia Pacific region is expected to witness the highest growth rate of 10.9% over the forecast period, owing to increasing demand for plastic recycling in countries such as China and India. The growing population coupled with rising disposable income will boost demand for packaged food, which is likely to increase product consumption and thereby drive hyperspectral imaging for plastic recycling market growth in this region.
The Middle East & Africa (MEA) market was valued at USD X million in 2017 and is projected to grow at a significant CAGR over the forecast period due to high investments being made by governments across countries such as UAE, Saudi Arabia, Egypt etc.
Growth Factors:
- Increasing demand for recycled plastic products: The global market for recycled plastic products is expected to grow at a CAGR of more than 5% from 2017 to 2021. This growth can be attributed to the increasing awareness about the benefits of using recycled plastic products, which include reduced environmental impact and cost savings.
- Rising demand for lightweight and durable plastics: The use of lightweight and durable plastics is increasing in automotive, aerospace, construction, and other industries due to their properties such as low weight, high strength-to-weight ratio, resistance to corrosion and heat distortion temperature. This is driving the demand for hyperspectral imaging systems for recycling these types of plastics.
- Growing popularity of 3D printing: 3D printing technology is growing in popularity due to its ability to produce customized parts with complex geometries quickly and at low cost. This is leading many companies to adopt 3D printing technology, which requires high-quality filament made from recycled plastic pellets derived from post-consumer waste streams such as PET bottles or food packaging containers. As a result, there is an increased need for hyperspectral imaging systems that can efficiently recycle these types of waste streams into high quality filaments suitable for 3D printing applications .
Scope Of The Report
Report Attributes
Report Details
Report Title
Hyperspectral Imaging for Plastic Recycling Market Research Report
By Type
Visible + Near Infrared Light, Short-Wavelength Infrared, Others
By Application
PET, PVC, PA, HDPE, PP, Others
By Companies
Headwall Photonics, Resonon, IMEC, EVK DI Kerschhaggl, Cubert, Galileo, Specim, Gooch & Housego, Surface Optics, Norsk Elektro Optikk A/S, Wayho Technology, BaySpec
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
158
Number of Tables & Figures
111
Customization Available
Yes, the report can be customized as per your need.
Global Hyperspectral Imaging for Plastic Recycling Market Report Segments:
The global Hyperspectral Imaging for Plastic Recycling market is segmented on the basis of:
Types
Visible + Near Infrared Light, Short-Wavelength Infrared, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
PET, PVC, PA, HDPE, PP, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Headwall Photonics
- Resonon
- IMEC
- EVK DI Kerschhaggl
- Cubert
- Galileo
- Specim
- Gooch & Housego
- Surface Optics
- Norsk Elektro Optikk A/S
- Wayho Technology
- BaySpec
Highlights of The Hyperspectral Imaging for Plastic Recycling Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Visible + Near Infrared Light
- Short-Wavelength Infrared
- Others
- By Application:
- PET
- PVC
- PA
- HDPE
- PP
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Hyperspectral Imaging for Plastic Recycling Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Hyperspectral imaging is a type of imaging that uses multiple wavelengths of light to create an image. This technology is used to study objects and materials in detail, which can be helpful when recycling plastic materials. Hyperspectral imaging can help identify different types of plastics and their properties, such as density, composition, and texture. This information can be used to improve the quality of recycled plastic products
Some of the major players in the hyperspectral imaging for plastic recycling market are Headwall Photonics, Resonon, IMEC, EVK DI Kerschhaggl, Cubert, Galileo, Specim, Gooch & Housego, Surface Optics, Norsk Elektro Optikk A/S, Wayho Technology, BaySpec.
The hyperspectral imaging for plastic recycling market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hyperspectral Imaging for Plastic Recycling Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Hyperspectral Imaging for Plastic Recycling Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Hyperspectral Imaging for Plastic Recycling Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Hyperspectral Imaging for Plastic Recycling Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Hyperspectral Imaging for Plastic Recycling Market Size & Forecast, 2020-2028
4.5.1 Hyperspectral Imaging for Plastic Recycling Market Size and Y-o-Y Growth
4.5.2 Hyperspectral Imaging for Plastic Recycling Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Visible + Near Infrared Light
5.2.2 Short-Wavelength Infrared
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 PET
6.2.2 PVC
6.2.3 PA
6.2.4 HDPE
6.2.5 PP
6.2.6 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hyperspectral Imaging for Plastic Recycling Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Hyperspectral Imaging for Plastic Recycling Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Visible + Near Infrared Light
9.6.2 Short-Wavelength Infrared
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 PET
9.10.2 PVC
9.10.3 PA
9.10.4 HDPE
9.10.5 PP
9.10.6 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Visible + Near Infrared Light
10.6.2 Short-Wavelength Infrared
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 PET
10.10.2 PVC
10.10.3 PA
10.10.4 HDPE
10.10.5 PP
10.10.6 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Visible + Near Infrared Light
11.6.2 Short-Wavelength Infrared
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 PET
11.10.2 PVC
11.10.3 PA
11.10.4 HDPE
11.10.5 PP
11.10.6 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Visible + Near Infrared Light
12.6.2 Short-Wavelength Infrared
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 PET
12.10.2 PVC
12.10.3 PA
12.10.4 HDPE
12.10.5 PP
12.10.6 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Visible + Near Infrared Light
13.6.2 Short-Wavelength Infrared
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 PET
13.10.2 PVC
13.10.3 PA
13.10.4 HDPE
13.10.5 PP
13.10.6 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Hyperspectral Imaging for Plastic Recycling Market: Competitive Dashboard
14.2 Global Hyperspectral Imaging for Plastic Recycling Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Headwall Photonics
14.3.2 Resonon
14.3.3 IMEC
14.3.4 EVK DI Kerschhaggl
14.3.5 Cubert
14.3.6 Galileo
14.3.7 Specim
14.3.8 Gooch & Housego
14.3.9 Surface Optics
14.3.10 Norsk Elektro Optikk A/S
14.3.11 Wayho Technology
14.3.12 BaySpec
