Plastic Recycling Companies

Plastic Recycling Market

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  October 2023- Wood has announced a partnership deal with OMV for the commercial licensing of its advanced plastic recycling technology, ReOil®. The contract will back substantial development in chemical-based plastic recycling, assisting in developing a circular economy solution for end-of-life plastics that would otherwise be sent to landfills or waste incineration. OMV, the United Energy, chemicals & materials, and fuels & feedstock company, built the commercial ReOil technology to transform plastic waste into pyrolysis oil, a beneficial resource largely beneficial to manufacture sustainable and high-performing plastics. ReOil provides a pioneering solution to back the development of plastic recycling – it is predicted that nearly 60% of plastic production will come from recycled feedstock by 2050. As per the contract, OMV and Wood will get ReOil jointly to the market, along with Wood's patented heater technology with OMV's chemical recycling process. The organizations have shown a joint technology and engineering providing group to assist clients with the deployment of ReOil at their sites.

Additionally, Wood will operate with ReOil licensees to offer full asset lifecycle support internationally. Wood's Executive President of Projects, Craig Shanaghey, said that Building on the company's exceptional long-term connection with OMV, they are happy to connect on the ReOil technology officially. ReOil is an upheld solution to the compound challenge of plastic waste and is associated with Wood's deliberate precedence to engineer a more sustainable future. He further added that they are looking ahead to operate with OMV to deploy this technology at scale.

List of the Key Companies in the Plastic Recycling Market Includes

• Jayplas


• Joe’s Plastics Inc.


• Kuusakoski Group Oy


• KW Plastics


• Montello S.p. A.


• MTM Plastics GmbH


• Plasgran Ltd.


• Plastipak Holdings Inc.


• Recycled Plastics UK


• RJM International Inc.


• Seraphim Plastics


• Shakti Plastics Industries


• Teijin Limited


• Ultra Poly Corporation


• UltrePET


• Veolia


• Custom Polymers Inc.


• Envision Plastics


• Plastic Recycling Inc.


• KW Plastics Inc.


• UltrePET


• Seraphim Plastics


• MBA Polymers Inc.


• Green-O-Tech India, among others