The Middle East & Africa recycled plastic market is expected to grow from US$ 3,810.47 million in 2021 to US$ 6,276.50 million by 2028; it is estimated to grow at a CAGR of 7.5% from 2021 to 2028.
Technological advancements in plastic recycling are supporting the demand for recycled plastics. Recycling plastic is one solution that is considered more sustainable over the long term. There has been a rise in research and development activities to improve plastic recycling in the past few years. Scientists are also focusing on the development of plastic-ingesting bacteria. A crucial step of recycling plastic is breaking it down into smaller particles; the goal is to reduce plastics to their constituents' compounds, thereby making them less harmless and more useful for repeat applications. The polymer compounds of plastics are very stable, which is why plastics are widely used. The bacteria "Ideonella sakaiensis" can break plastics into ethylene glycol and dimethyterephtalate (DMT). The plastic broken using this method is used in many applications such as constructing roads and other structures. Another technological innovation in plastic recycling is the use of the artificial intelligence (AI) sorting method. AI is used to separate plastics from metal caps and is the perfect solution for garbage recycling due to garbage's highly irregular and unpredictable nature. A sensor may be able to identify a material's composition and separate them. AI is becoming a key ally for the development of the plastic recycling sector. Artificial intelligence allows for more efficient management of recycling plants and the implementation of image recognition systems to select and classify waste. With the increase in plastic recycling industries, artificial intelligence will enable more efficient management of recycling and waste sorting plants.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the recycled plastic market at a notable CAGR during the forecast period.
Middle East & Africa Recycled Plastic Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Recycled Plastic Market Segmentation
The Middle East & Africa recycled plastic market is segmented into type, source, application, and country. Based on type, the market is categorized into polyethylene terephthalate, polyethylene, polypropylene, polystyrene, and others. In terms of source, the Middle East & Africa recycled plastic market is segmented into plastic bottles, plastic films, plastic foams, plastic fibers, and others. Based on application, the market is segmented into packaging, textile, automotive, building and construction, electrical and electronics, and others. In terms of country, the Middle East & Africa recycled plastic market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa.
Middle East & Africa Recycled Plastic Market – Companies Mentioned
Remondis SE & Co. Kg, Veolia, Alpek S.A.B. de C.V., and Plastipak Holdings Inc. are among the major companies operating in the Middle East & Africa recycled plastic market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 3,810.47 Million |
| Market Size by 2028 | US$ 6,276.50 Million |
| CAGR (2021 - 2028) | 7.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
1. Remondis SE & Co. Kg
2. Veolia
3. Alpek S.A.B. de C.V.
4. Plastipak Holdings Inc.
The Middle East and Africa Recycled Plastic Market is valued at US$ 3,810.47 Million in 2021, it is projected to reach US$ 6,276.50 Million by 2028.
As per our report Middle East and Africa Recycled Plastic Market, the market size is valued at US$ 3,810.47 Million in 2021, projecting it to reach US$ 6,276.50 Million by 2028. This translates to a CAGR of approximately 7.5% during the forecast period.
The Middle East and Africa Recycled Plastic Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Recycled Plastic Market report:
The Middle East and Africa Recycled Plastic Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Recycled Plastic Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Recycled Plastic Market value chain can benefit from the information contained in a comprehensive market report.
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