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Saudi Arabia Plastic Recycling Market to Grow at a CAGR of 5.90% During 2022-2027, Aided by the Escalating Environmental Concerns

According to a new report by EMR titled, ‘Saudi Arabia Plastic Recycling Market Report and Forecast 2022-2027’, the market stood at a volume of around 1.6 million tonnes in 2021. The market is further expected to grow at a CAGR of 5.90% between 2022 and 2027 to reach a volume of 2.3 million tonnes by 2027.

The Saudi Arabia plastic recycling industry is being driven by the heightened environmental consciousness among consumers and the government. This can be attributed to the rising pollution levels caused by the generation of plastic waste worldwide, which has adversely affected the ecosystem. In this regard, organisations are increasingly focusing on recycling plastics to allow for the efficient reuse and disposal of items made from plastic. Furthermore, in the packaging sector, recycled plastic products are utilised in a range of applications. Moreover, the government initiatives to promote and expand plastic recycling operations in the region are also expected to positively impact the growth of the market in the coming years.

The growing focus of leading players to utilise advanced technological solutions for the efficient recycling of plastic products is expected to catalyse the industry growth in the forecast period. For instance, in October 2019, Tomra (OTCMKTS: TMRAY) announced the company's plan and commitment to collect 40% of all plastic packaging produced worldwide for recycling by 2030. The company utilises sensor-based sorting systems and reverse vending machines in the recycling process. Tomra is one of the leading recycling companies in Saudi Arabia and has worked closely with the local governments and municipalities in the region. Such developments are expected to bolster the growth of the plastic recycling industry in Saudi Arabia in the forecast years.

Market Breakup by Type and Application:

  • The market is divided, based on type, into polypropylene (PP), polyethylene (PE), and polyethylene terephthalate (PET), among others. Among these, polyethylene (PE) can be bifurcated into HDPE and LDPE. 
  • On the basis of application, the market can be categorised into packaging, textile, automotive, and construction, among others.

Key Findings of the Report:

  • The Saudi Arabia plastic recycling industry is being driven by the heightened eco-consciousness worldwide.
  • The growing demand for PET has significantly contributed to the market expansion. 
  • The increased investments by the key market players in research and development of improved plastic recycling techniques are also aiding the industry growth. 
  • The rising technological advancements in the industry, along with the growing investments by the government in recycling projects are further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the Saudi Arabia market for plastic recycling for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the types and applications of plastic recycling.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the Saudi Arabia plastic recycling market are Saudi Top Plastic Factory (STP), Recycling Industries, Arabian Ladinah for industrials Co. Ltd, Waste Collection & Recycling Co. Ltd (WACSO), and Saudi Investment Recycling Company (SIRC), among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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