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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.
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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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