Global Optical Sorters for Waste Recycling Market

Global Optical Sorters for Waste Recycling Market Size, Share, Growth Analysis, By Type(Municipal Solid Waste (MSW), and Industrial Waste), By Technology(Near-Infrared (NIR) Sorting, and Hyperspectral Imaging (HSI) Sorting) - Industry Forecast 2023-2030


Report ID: SQMIG20I2074 | Region: Global | Published Date: February, 2024 | Pages: 157 | Tables: 61 | Figures: 75

Global Optical Sorters for Waste Recycling Market Insights

Optical Sorters for Waste Recycling Market size was valued at USD 2.5 billion in 2021 and is poised to grow from USD 3.7 billion in 2022 to USD 8.40 billion by 2030, growing at a CAGR of 12.4% in the forecast period (2023-2030).

Global optical sorters for waste recycling market is growing as businesses, governments, and consumers increasingly focus on sustainability and waste reduction. There is a growing concern about the environmental impact of waste, particularly plastic waste. Governments, businesses, and consumers are increasingly interested in finding ways to reduce, reuse, and recycle waste, which is driving the demand for recycling technologies like optical sorters. Also, governments around the world are implementing regulations and policies aimed at reducing waste and increasing recycling rates. These regulations are creating a favorable environment for the growth of the market. Moreover, there is a growing demand for recycled materials, particularly in the manufacturing sector, where recycled materials are seen as a way to reduce costs and improve sustainability. Optical sorters are critical to the process of recovering valuable materials from waste streams. Furthermore, the development of advanced optical sensors and cameras, along with improvements in machine learning and artificial intelligence, have made optical sorters more efficient, accurate, and adaptable to a wide range of waste streams.

US Optical Sorters for Waste Recycling Market is poised to grow at sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 2.5 billion

Largest Segment

Municipal Solid Waste (MSW),

Fastest Growth

Municipal Solid Waste (MSW),

Growth Rate

12.4% CAGR

Global Optical Sorters for Waste Recycling Market 2022-2030 ($ Bn)
Country Share for North America Region- 2022 (%)
Global Optical Sorters for Waste Recycling Market Size By Type 2022-2030 ($ Bn)
Global Optical Sorters for Waste Recycling Market Size By Type 2022-2030 (%)

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Global Optical Sorters for Waste Recycling Market Segmental Analysis

Global Optical Sorters for Waste Recycling market is segmented by type, application, and region. Based on type, the market can be segmented into municipal solid waste (MSW), and industrial waste. Based on technology, the market is segmented into near-infrared (NIR) sorting, and hyperspectral imaging (HSI) sorting. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Global Optical Sorters for Waste Recycling Market Analysis by Type

By type, the market can be segmented into municipal solid waste (MSW), and industrial waste. Municipal solid waste (MSW) dominated the market due to the increasing volume of MSW generated by households and commercial sectors, and the need for efficient and cost-effective sorting and recycling solutions.

However, the industrial waste segment is expected to grow at a faster rate during the forecast period due to the rising industrialization and the increasing adoption of advanced sorting technologies in the industrial sector. The industrial waste segment includes waste generated from manufacturing, construction, and demolition activities, which often contain high-value materials that can be recycled and reused. Optical sorters provide an efficient and reliable way to sort these materials and reduce waste sent to landfills.

Global Optical Sorters for Waste Recycling Market Analysis by Technology

By technology, the market can be segmented into near-infrared (NIR) sorting, and hyperspectral imaging (HSI) sorting. Near-infrared (NIR) sorting dominated the globalmarket. NIR sorting technology is widely used in the waste recycling industry due to its high efficiency in identifying and separating different waste materials based on their optical properties.

However, the HSI sorting segment is expected to witness faster growth during the forecast period due to its higher accuracy in identifying different materials based on their unique spectral signatures. HSI sorting can identify and separate materials with similar optical properties but different spectral signatures, making it a valuable technology for sorting complex waste streams that contain mixed materials.

Global Optical Sorters for Waste Recycling Market Size By Type, 2022 (%), 2021 (%)

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Global Optical Sorters for Waste Recycling Market Regional Insights

North America dominated the market due to the presence of a large number of waste recycling facilities in the region, along with favorable government regulations and increasing demand for sustainable waste management solutions.

However, the APAC region is expected to witness the fastest growth during the forecast period due to the increasing industrialization, urbanization, and government initiatives for waste management. The growing population and rapid economic development in countries such as China, India, and Japan are driving the demand for efficient waste management solutions, including optical sorters for waste recycling. Furthermore, the increasing adoption of advanced sorting technologies in the food industry for sorting food grains and seeds is expected to drive the growth of the market in the APAC region.

Global Optical Sorters for Waste Recycling Market By Geography, 2022-2030, 2023-2030
  • Largest
  • Fastest

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Global Optical Sorters for Waste Recycling Market Dynamics

Global Optical Sorters for Waste Recycling Market Drivers

Increasing need for sustainable waste management solutions

  • One of the key drivers of the optical sorters for waste recycling market is the increasing need for sustainable waste management solutions. Rapid population growth, urbanization, and industrialization have led to a significant increase in the volume of waste generated globally, creating a need for efficient and cost-effective sorting and recycling solutions. Optical sorters provide an effective way to sort and recycle waste materials, reducing the amount of waste sent to landfills and promoting a more sustainable approach to waste management. The increasing focus on sustainability is expected to drive the demand for optical sorters in the coming years.

Global Optical Sorters for Waste Recycling Market Restraints

High cost of equipment and maintenance

  • One of the major restraints of the optical sorters for waste recycling market is the high cost of equipment and maintenance. Optical sorters require significant capital investment and regular maintenance to ensure optimal performance, which can be a significant financial burden for small and medium-sized waste recycling facilities. Moreover, the high cost of equipment can make it challenging for new entrants to enter the market, creating a barrier to competition. The high cost of equipment and maintenance can limit the adoption of optical sorters, particularly in developing regions, hindering the growth of the market.

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Global Optical Sorters for Waste Recycling Market Competitive Landscape

Global optical sorters for waste recycling market is highly competitive, with several established players and new entrants vying for market share. The market is characterized by intense competition, with players focusing on product innovation, quality, and cost-effectiveness to gain a competitive edge. Some of the key strategies adopted by players include partnerships, collaborations, and mergers and acquisitions to expand their market reach and customer base. The competitive landscape of the market is expected to remain intense in the coming years, with players continuing to invest in research and development to introduce innovative products and gain a competitive advantage.

Top Player’s Company Profiles in Global Optical Sorters for Waste Recycling Market

  • Tomra Systems ASA (Norway)
  • Buhler AG (Switzerland)
  • CP Manufacturing Inc. (US)
  • Binder+Co AG (Austria)
  • Steinert GmbH (Germany)
  • Pellenc ST (France)
  • Redwave (Austria)
  • ZenRobotics Ltd. (Finland)
  • Sesotec GmbH (Germany)
  • National Recovery Technologies (US)
  • Green Machine LLC (US)
  • Machinex Industries Inc. (Canada)
  • MSS, Inc. (US)
  • Satake Corporation (Japan)
  • Bollegraaf Recycling Solutions (Netherlands)
  • Kiverco (UK)
  • Van Dyk Recycling Solutions (US)
  • Titech (Sweden)
  • Lubo Systems BV (Netherlands)
  • Forrec srl (Italy)

Optical Sorters for Waste Recycling Market Recent Developments

  • In April 2023, MSS, Inc. announced the acquisition of sorting technology provider Lubo Systems BV.
  • In February 2023, Machinex Industries Inc. announced the launch of its new MACH Hyspec optical sorter for the efficient sorting of plastic materials.
  • In January 2023, Green Machine LLC announced the launch of its new optical sorting system for the efficient sorting of glass materials in the recycling industry.
  • In August 2022, National Recovery Technologies announced a partnership with waste management company Waste Connections to develop new recycling solutions.
  • In June 2022, Pellenc ST announced the launch of its new optical sorting system for the efficient separation of plastic materials.

Global Optical Sorters for Waste Recycling Key Market Trends

  • One key market trend in the optical sorters for waste recycling market is the increasing adoption of advanced sensor-based sorting technologies, such as near-infrared (NIR) and hyperspectral imaging (HSI) sorting systems, which offer high efficiency, accuracy, and cost-effectiveness in sorting a wide range of recyclable materials. Additionally, there is a growing demand for eco-friendly waste recycling solutions, which has led to the development of innovative optical sorting systems that can sort various types of waste materials and reduce the amount of waste sent to landfills. This trend is expected to drive the growth of the optical sorters for waste recycling market in the coming years.

Global Optical Sorters for Waste Recycling Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global optical sorters for waste recycling market analysis, the market is a growing industry that offers innovative solutions for the efficient sorting and recycling of various waste materials. The market is segmented based on waste type and technology, with municipal solid waste (MSW) and near-infrared (NIR) sorting being the dominant segments. The market is driven by increasing awareness of the importance of waste recycling and the adoption of advanced sensor-based sorting technologies. However, high initial investment costs and limited availability of skilled operators may restrain market growth. The market is highly competitive with major players including TOMRA, Buhler, and Sesotec. Recent developments include partnerships, acquisitions, and launches of new optical sorting systems.

Report Metric Details
Market size value in 2021 USD 2.5 billion
Market size value in 2030 USD 8.40 billion
Growth Rate 12.4%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Municipal Solid Waste (MSW), and Industrial Waste
  • Technology
    • Near-Infrared (NIR) Sorting, and Hyperspectral Imaging (HSI) Sorting
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Tomra Systems ASA (Norway)
  • Buhler AG (Switzerland)
  • CP Manufacturing Inc. (US)
  • Binder+Co AG (Austria)
  • Steinert GmbH (Germany)
  • Pellenc ST (France)
  • Redwave (Austria)
  • ZenRobotics Ltd. (Finland)
  • Sesotec GmbH (Germany)
  • National Recovery Technologies (US)
  • Green Machine LLC (US)
  • Machinex Industries Inc. (Canada)
  • MSS, Inc. (US)
  • Satake Corporation (Japan)
  • Bollegraaf Recycling Solutions (Netherlands)
  • Kiverco (UK)
  • Van Dyk Recycling Solutions (US)
  • Titech (Sweden)
  • Lubo Systems BV (Netherlands)
  • Forrec srl (Italy)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Optical Sorters for Waste Recycling Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Optical Sorters for Waste Recycling Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Optical Sorters for Waste Recycling Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Optical Sorters for Waste Recycling Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Optical Sorters for Waste Recycling Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Optical Sorters for Waste Recycling Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Optical Sorters for Waste Recycling Market size was valued at USD 2.5 billion in 2021 and is poised to grow from USD 3.7 billion in 2022 to USD 8.40 billion by 2030, growing at a CAGR of 12.4% in the forecast period (2023-2030).

Global optical sorters for waste recycling market is highly competitive, with several established players and new entrants vying for market share. The market is characterized by intense competition, with players focusing on product innovation, quality, and cost-effectiveness to gain a competitive edge. Some of the key strategies adopted by players include partnerships, collaborations, and mergers and acquisitions to expand their market reach and customer base. The competitive landscape of the market is expected to remain intense in the coming years, with players continuing to invest in research and development to introduce innovative products and gain a competitive advantage. 'Tomra Systems ASA (Norway)', 'Buhler AG (Switzerland)', 'CP Manufacturing Inc. (US)', 'Binder+Co AG (Austria)', 'Steinert GmbH (Germany)', 'Pellenc ST (France)', 'Redwave (Austria)', 'ZenRobotics Ltd. (Finland)', 'Sesotec GmbH (Germany)', 'National Recovery Technologies (US)', 'Green Machine LLC (US)', 'Machinex Industries Inc. (Canada)', 'MSS, Inc. (US)', 'Satake Corporation (Japan)', 'Bollegraaf Recycling Solutions (Netherlands)', 'Kiverco (UK)', 'Van Dyk Recycling Solutions (US)', 'Titech (Sweden)', 'Lubo Systems BV (Netherlands)', 'Forrec srl (Italy)'

One of the key drivers of the optical sorters for waste recycling market is the increasing need for sustainable waste management solutions. Rapid population growth, urbanization, and industrialization have led to a significant increase in the volume of waste generated globally, creating a need for efficient and cost-effective sorting and recycling solutions. Optical sorters provide an effective way to sort and recycle waste materials, reducing the amount of waste sent to landfills and promoting a more sustainable approach to waste management. The increasing focus on sustainability is expected to drive the demand for optical sorters in the coming years.

One key market trend in the optical sorters for waste recycling market is the increasing adoption of advanced sensor-based sorting technologies, such as near-infrared (NIR) and hyperspectral imaging (HSI) sorting systems, which offer high efficiency, accuracy, and cost-effectiveness in sorting a wide range of recyclable materials. Additionally, there is a growing demand for eco-friendly waste recycling solutions, which has led to the development of innovative optical sorting systems that can sort various types of waste materials and reduce the amount of waste sent to landfills. This trend is expected to drive the growth of the optical sorters for waste recycling market in the coming years.

North America dominated the market due to the presence of a large number of waste recycling facilities in the region, along with favorable government regulations and increasing demand for sustainable waste management solutions.

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