Saudi Arabia Plastic Recycling Market Report and Forecast 2024-2032

Saudi Arabia Plastic Recycling Market Outlook

The Saudi Arabia plastic recycling market stood at a volume of around 1.79 million tonnes in 2023. The market is further expected to grow at a CAGR of 6.2% in the forecast period of 2024-2032 to attain a value of around 3.06 million tonnes by 2032.

Increasing Demand for Polyethylene Terephthalate (PET) to Aid the Saudi Arabia Plastic Recycling Industry

The polyethylene terephthalate (PET) segment is expected to hold a significant market share in the Saudi Arabia plastic recycling industry during the forecast period. This development can be attributed to the increased usage of PET to manufacture products such as plastic bottles and food containers. PET is popularly used because of its cost-effectiveness, lightweight, high overall strength, excellent electrical insulating properties, and easy transportability. In addition, it also has FDA approval guaranteeing its safety upon contact with food and beverages.

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Packaging Sector to Augment the Growth of the Saudi Arabia Plastic Recycling Industry

Based on application, the packaging segment is expected to hold a significant share in the Saudi Arabia plastic recycling industry. This growth can be associated with the rapid adoption of recycled plastic products in the packaging of goods. The growing e-commerce industry and the rapid urbanisation are supporting the growth of the segment.

Plastic Recycling: Market Segmentation

Nowadays, products made from plastic are ubiquitous in our environment owing to their cheap and multifunctional properties. However, this increase has led to a significant environmental crisis globally, as plastic waste is non-biodegradable and has hazardous consequences on the planet if not dealt properly. In this regard, plastic recycling is a process through which various plastic materials can be recovered and reused in the form of new products. Therefore, it is an essential mechanism that helps in reducing wastage and decreasing pollution and supports environmental conservation. The steps for the recycling process include collection, categorising, washing, shredding and, lastly, compounding.

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By type, the market is divided into:

• Polypropylene (PP)
• Polyethylene (PE)
• Polyethylene Terephthalate (PET)
• Others

The polyethylene (PE) segment can be divided based on type into HDPE and LDPE.

Based on application, the industry can be categorised into:

• Packaging 
• Textile 
• Automotive
• Construction
• Others

Rising Environmental Concerns and Increased Government Investments to Drive the Saudi Arabia Plastic Recycling Industry

The rapid increase in pollution levels caused by plastic has led to severe consequences on the entire ecosystem globally. Consequently, plastic recycling is increasingly being utilised as a positive approach ensuring safe and efficient disposal and subsequent reprocessing of plastic products. The government in Saudi Arabia has introduced multiple initiatives to support and implement plastic recycling nationwide. Meanwhile, due to increased industrialisation, many large and small enterprises are developing innovative ways of employing plastic materials in an eco-friendly manner. These are some of the factors contributing to the growth of the plastic recycling industry in Saudi Arabia.

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According to estimates, Saudi Arabia is expected to notice a double increase in solid waste generation, out of which 5-17% is attributed to plastic waste. While the recycling process in Saudi Arabia is in its early stages, an integrated approach of waste recycling and recovering new products in major cities is estimated to reduce the requirement of costly raw materials and fossil fuels in the country.

Key Industry Players in the Saudi Arabia Plastic Recycling Market

The report gives a detailed analysis of the following key players in the Saudi Arabia plastic recycling market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Saudi Top Plastic Factory (STP)
• Recycling Industries
• Arabian Ladinah for Industrials Co., Ltd.
• Waste Collection & Recycling Co. Ltd (WASCO)
• Saudi Investment Recycling Company (SIRC)
• Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model and SWOT analysis.

Key Highlights of the Report

Saudi Arabia Plastic Recycling Market Report Snapshots

Saudi Arabia Plastic Recycling Market Size

Saudi Arabia Plastic Recycling Market Growth

Saudi Arabia Plastic Recycling Companies