Saudi Arabia Plastic Recycling
Market is anticipated to observe impressive growth during the forecast period,
2024-2028. The major factors driving the market growth include widespread application
of recycled plastics in packaging, automotive, construction, textile is
augmenting the growth of the market. Plastic recycling is a method that allows different types of plastic to
be recovered and utilized in the creation of new items. As a result, it is a
crucial mechanism that promotes environmental preservation by lowering
pollution and waste. The recycling process consists of the following steps:
collection, sorting, washing, shredding, and compounding. The other factor
supporting the market’s growth is increasing awareness
about plastic degradability among the population of Saudi Arabia. Additionally, increasing research &
development activities by the various academic & research institutions and
plastic recycling companies to develop new recycling processes or using the
recycled plastics in different application areas is further expected to support
the market growth. Besides, growing initiatives taken by the government to minimize plastic waste and
adopt sustainable approaches is further expected to fuel the market growth. The
Saudi Arabian government has launched a number of programmes to encourage and
implement plastic recycling across the country. In the meantime, as a result of
rising industrialization numerous big and small businesses are coming up with
creative ways to use plastic materials in an environmentally responsible way.
These are a few of the elements influencing Saudi Arabia's expanding plastic
recycling market.
Rising Demand for PET Plastic
in End-User Industries
Polyethylene
terephthalate, also known as PET, is a thermoplastic organic substance used to
create plastic bottles. Worldwide demand for bottles made of polyethylene
terephthalate (PET) plastic is rising as a result of the many benefits these
containers offer, including their low weight, flexibility, and unbreakability.
The global PET bottles market is expanding as a result of factors like growing
applications of PET bottles in the beverage industry for packaged water,
juices, flavored water, functional water, carbonated drinks, and others. They
may also be recycled numerous times, which reduces their manufacturing costs
greatly and makes them environmentally friendly. Additionally, because
PET bottles are lightweight and don't need special handling, transportation
costs are greatly diminished. As per various studies, plastic waste from
drinking water bottles in Saudi Arabia was estimated at 8,27,114 tonnes each
year, which produced 26,79,851 tonnes of CO2 per year. As a
result, given that more individuals are choosing e-commerce services, demand is
anticipated to rise significantly throughout the projection period. Hence,
increasing demand from various end user industries is propelling the growth of Saudi Arabia Plastic Recycling Market.
Hazardous Impact of
Plastic Decomposition on Environment
Change in lifestyle has expanded
the usage of plastic enormously. Landfills are conventionally used for plastic
disposal and depending upon the plastic structure, it takes almost 20 years or
more to decompose and settle properly, which results in scarcity of landfill
areas in Saudi Arabia. Also, plastics like PLA require industrial composting
for its decomposition. This conventional landfill method has deep-rooted
harmful effects on environment which causes contamination of groundwater and
soil, resulting in poor crop yielding. KSA government has an ambition to
redirect 99% of the waste away from landfill, with about 80 per cent to be
recycled. Hence, increasing environmental concerns is
propelling the growth of Saudi Arabia Plastic
Recycling Market.
Recent Developments
- Construction of giant petrochemicals plant by Aramco and TotalEnergies
is expected to start from the first quarter of 2023 with an equity of 62.5% and
37.5% respectively. In July 2022, SATORP was certified with ISCC+ for its
initiatives like plastic recycling.
- BEEAH is expanding its product portfolio in Saudi Arabia in support of
Saudi vision 2030. In a new launching of BEEAH, it is incorporating artificial intelligence-based
machinery for plastic waste segregation.
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Market
Segmentation
Saudi Arabia
Plastic Recycling Market is segmented into type, source, method and end-user. Based on type, the market is divided
into Polyethylene,
Polyethylene Terephthalate, Polypropylene, Polyvinyl Chloride, Polystyrene and
Others. Based on source,
the market is divided into Bottles,
Films, Fibers, Foams and Others. Based on Methods the market is segmented into Mechanical,
Thermal, Chemical, and Landfill. In terms of end-user, the market is segmented
into Packaging, Building & Construction,
Textile, Electrical & Electronics and Automotive and Others.
Market
Players
Saudi Top Plastic Factory (STP), Recycling
Industries, Arabian Ladinah for Industrials Co., Ltd, Waste Collection &
Recycling Co. Ltd (WACSO), Saudi Investment Recycling Company (SIRC) are some
of the leading companies operating in the market.
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 –
2021
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Estimated Year
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2023
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Forecast Period
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2024
– 2028
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Quantitative Units
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Revenue in USD Million, Volume Units and CAGR for 2018-2022
and 2023-2028
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Report coverage
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Revenue
forecast, Volume forecast company share, competitive landscape, growth
factors, and trends
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Segments covered
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Type
Source
Method
End-user
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Regional scope
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Northern
and Central Saudi Arabia, Western Saudi Arabia, Southern Saudi Arabia,
Eastern Saudi Arabia.
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Key companies profiled
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Saudi Top Plastic Factory (STP), Recycling Industries, Arabian
Ladinah for Industrials Co., Ltd, Waste Collection & Recycling Co. Ltd
(WACSO), Saudi Investment Recycling Company (SIRC).
|
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Customization scope
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10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
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Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also
provide the editable version of the report in PPT/Word format on special
request)
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Report
Scope:
In this
report, Saudi Arabia Plastic Recycling Market has been segmented into following
categories, in addition to the industry trends which have also been detailed
below:
·
Saudi Arabia Plastic Recycling Market, By Type:
o Polyethylene
o Polyethylene Terephthalate
o Polypropylene
o Polyvinyl Chloride
o Polystyrene
o Others
·
Saudi Arabia Plastic Recycling Market, By Source:
o Bottles
o Films
o Fibers
o Foams
o Others
·
Saudi Arabia Plastic Recycling Market, By Region:
o Northern and Central Saudi
Arabia
o Western Saudi Arabia
o Southern Saudi Arabia
o Eastern Saudi Arabia
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present Saudi Arabia Plastic Recycling Market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company
Information
- Detailed analysis and profiling of additional market players (up to
five).
Saudi Arabia Plastic Recycling
Market is an upcoming report to
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confirm the date of release, please contact us at [email protected]