What is ‘plastic recycling’?
‘Plastic recycling’ is the process of recovering scrap or waste plastic and reprocessing the material into useful products. Due to purposefully misleading symbols on plastic packaging and numerous technical hurdles, less than 10% of plastic has ever been recycled.
Why are plastics recycled?
Recycling takes 88% less energy than making plastic from raw materials while helping reduce fossil fuel consumption; Diverting discarded plastics from the refuse stream and turning them into new goods keeps these persistent materials out of landfills and the natural environment.
Why will recycled plastic help to protect the environment?
In addition to reducing greenhouse gas emissions, recycling plastic water bottles also helps to decrease the amount of pollution in the air and water sources. Many landfill facilities will incinerate plastic bottles to save waste, which can emit toxic pollutants or irritants into the air.
Recycling saves energy and water, lowers pollution and greenhouse gas emissions, improves air and water quality, preserves landfill space and conserves natural resources. We can benefit from the raw materials and energy that have already gone into their production.
Two types of plastic are recycled?
Broadly, there are two major ways to recycle plastic:
(1) mechanical recycling (“chop and wash”), where the plastic is washed, ground into powders and melted,
(2) chemical recycling, where the plastic is broken down into monomers. Before recycling, most plastics are sorted according to their resin type.
Recycle plastic is useful for
By turning bottles, packaging and other plastic refuse into new goods, recycling helps the environment and creates new economic opportunities. Plastics recycling keeps still-useful materials out of landfills and encourages businesses to develop new and innovative products made from them.
Recycling the plastic is good for our environment as well as good for business
Recycling of plastic will not only help to reshape and clean the environment and to form the circular economy,but you can earn a damn good amount of money because it has an immense opportunity with least risk.
What is a plastic recycling business?
A plastic recycling business involves reprocessing used plastic to make it reusable. Plastic recycling business has many lines of businesses like collecting plastic, outsourcing the reprocessing, selling the recycled plastic etc.
Is the plastic recycling business profitable?
Thus, recycling plastic bottles and other products provide us with huge business opportunities. Plastic recycling business is very profitable if carried out with proper business planning.Plastic is a known non-biodegradable substance which means that it is not possible to break it through natural means.
How much plastic is recycled in a year?
Since the production of plastic in the 1950s, 8.3 billion metric tons of plastic has been generated till recently. These plastics mostly become trash after one time use. It is estimated that nearly 6.3 billion metric tons of plastic has become waste. Every year nearly 400-500 million tons of plastic waste is generated which continues to rise every year. Most of the products we use have been replaced by plastic. The shocking part in all these is that only 10-15% of total production of plastic waste is recycled.
How 3R’s used in the process of recycling the plastic?
The 3R’s in plastic recycling is
Reuse: Reuse old plastic bags for multiple shopping trips.Many grocery stores offer durable, washable bags to customers at an affordable price. Using these bags on a regular basis can create less waste than paper or plastic, and washing them regularly removes dirt and germs.
Reduce : Reduce your use of disposable shopping bags by using a reusable bag or container when shopping.we people are reduced using the plastic bags is very useful for our environment.
Recycle : Many people these days are setting up plastic waste recycling plant where plastic wastes like plastic bottles, polythene, polybag, plastic containers, boxes, packets, sheets and their likes are recycled into useful products.
Steps to start a low budgeted plastic recycling business
This business would not only help in improving the environment but it is one of the recent businesses people are getting into. More and more people are starting plastic recycling businesses.steps are:
Research about the market
Make a business plan
Plan the location and get a license
Equipment for a make a business
Promote our business
Research about the market
The recycling market is new and has not gained much attention yet. It’s better to research the market, their functions, and aim to understand their work better. Look out for the plastic company who are willing to work with you and who are ready to pay for the recycled plastic. The best thing to do is to learn about the different types of plastic, their demands and the value of recycled plastic in the market. All these things will give you some depth on this business.
Allocate your budget for primary research.visit existing recycling business plants.
During your research,you will know the types of plastic,and its selling price and market which are mentioned below.
To start a plastic recycling business in low investment,you must be aware of the sourcing point of raw materials and scrap and point of sale after recycling. In addition to exploring ways to utilize plastic waste as raw material, Neste is helping the plastics industry and various plastics-consuming companies to reduce their crude oil dependency and climate emissions by producing durable and recyclable renewable plastics from bio-based raw materials, such as waste fats and oils.
Make a business plan
Make a plan, contact NGOs or talk to some local volunteer who can help you in gathering the plastic across. You can talk to different authorized placements of recycling bins to receive more plastic wastes. Plan everything according to the area you want to start your business at and you can also talk to different shops or organizations who can provide you with the waste plastic material. It is best if you plan how you want to carry your business forward and contact people from the business for further help.
Contact to your nearby kabadiwala(Kabadi meaning “junk or scrap dealer”).The kabadiwala have 2- 3 collection centres in cities where the significant city population can dump their waste, and you can collect easily.contact municipality and source scrap from there in the low cost that is (1-3) Rs/Kg.
Make a marketing for your business.promotion,awareness,brand and sell.marketing is you can put any several ways one main marketing strategy is using through online or social media.
Must understand your sales funnel,purchase funnel and marketing funnel.
Plan a location and get a license
If you have decided and made plans for execution of this business, make sure you get a business license. Decide a location that you think would fit for a plastic recycling company; get a license for that location. Make sure the location you choose has enough space for installing the equipment. It is important that you consider taking up a location outside of a busy area.
You can take a lease for 15 – 25 years and rent on a monthly basis( ideally 20,000Rs for 500sq.M).you will get a continuous supply of electricity,water and transportation to run recycling plant smoothly.now get your license done by regulatory bodies,environment and other local or government bodies.
Equipment for make a business
Talk to an already existing recycling business person; ask him about the equipment that are needed for this business. Search for the equipment online or offline or you can also buy them on E.M.I. You would also need to furnish the location with the required things for the employees. The machines which are normally used are shredders, crushers, extruders, solar dryer and washer. You would need a large vehicle to transport, so it’s better you count this in as well.
To setting up the equipment:
Though you should ensure that you get proper facilities wherever you have purchased the land. The factory setup can easily cost you Rs 5 to 10 lakhs. The setting up of machines for recycling costs from Rs 3.5 lakhs to 35 lakhs and beyond. Don’t make cost a factor while buying the machine as it should execute the task very well based on the requirement.
Cost of other utilities will come around 1-2 lakhs per month. You can add the cost of labor and technician as well. The other requirement includes the money required to purchase plastic waste. This doesn’t cost much, around 20-30 thousand rupees per month is enough. Money required in advertisement, transportation, finishing, packing and manufacturing will add up as well. One can expect a total of 10-25 lakh rupees investment for the first time with a monthly expense of Rs 1-2 lakhs.
Promote our business
It is very important to promote your business and promoting a business like this would require push from the local NGOS and volunteers. They can help promote it at other NGOS, parks, schools etc. Getting it online on all the social media platforms would also help creating awareness and people getting involved in it. You can also get in touch with schools and initiate plastic collection there. In this business you would need to be in regular touch of the volunteers and schools or parks to get the waste plastic supply regularly.
You will get the tax benefits for 3 years and can take loan up to 2cr without putting any collateral in the bank as this business falls under SMEs and manufacturing sector.you can attract new customers, enhance your chances of winning contracts and improve customer loyalty by demonstrating your environmental responsibility through recycling efforts.
This is not your conclusion this is the one key point to start a business and earn more and more. if you put all the revenue sources together, you will make a profit of at least 16 – 22%
These are the essential guidelines who want to start a plastic recycling business in low investment or high investment.