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Report: Egypt Plastic Recycling Market expected to up from $ 380.25 m in 2024 to reach $ 473.96 m by 2030
A recent report expected the Egypt Plastic Recycling Market to rise from $ 380.25 million in 2024 to reach $ 473.96 million by 2030, rising at a CAGR of 3.70%.
The report – available on Research and Markets which is the World’s largest market research store – said the Egyptian plastic recycling market has experienced substantial growth in recent years, driven by a combination of environmental awareness, government policies, and the rising demand for sustainable solutions.
According to the World Bank, as of 2022-2023, Egypt’s plastic recycling sector garnered investments totaling between $ 0.02-0.04 billion, with the volume of recycled plastic reaching approximately 1.5 million tons.
The country’s plastic production industry, which produces around two million tons annually, has emerged as a significant contributor to the national economy, making up about 12% of the GDP.
Factors for expanding Egypt’s plastic recycling market:
Several factors are driving the expansion of Egypt’s plastic recycling market. One of the key drivers is the increasing environmental awareness among the public. Growing concerns about the environmental impact of plastic waste have led to heightened demand for recycling services and sustainable alternatives. For example, Egypt’s ban on single-use plastic bags in 2017 has encouraged more consumers and businesses to consider eco-friendly practices, further boosting the demand for recycled materials.
Additionally, the Egyptian government has implemented various initiatives to promote recycling, such as financial incentives for companies that invest in recycling infrastructure and the establishment of the National Solid Waste Management Program (NSWMP). These measures aim to improve waste management and reduce the environmental impact of plastic waste.
As per Institutional Research Department of the Arab Academy for Science, Technology & Maritime Transport, Egypt faces considerable challenges in solid waste management, generating approximately 80,000 tons of solid waste daily. However, only about 60% of this waste is collected and disposed of appropriately.
Rising Demand from Key Industries:
The demand for recycled plastic materials in Egypt has been significantly influenced by several key industries that are increasingly turning to recycled plastics as a sustainable, cost-effective alternative to virgin materials. These industries include packaging, automotive, construction, and consumer goods. Their growing adoption of recycled plastics is a crucial factor in the expansion of the plastic recycling market in Egypt.
The packaging industry is one of the largest consumers of recycled plastics worldwide, and Egypt is no exception. This sector is experiencing a surge in demand for recycled materials due to a combination of consumer preferences, regulatory changes, and environmental concerns.
As global awareness of plastic waste intensifies, consumers are increasingly demanding products packaged in sustainable materials. In response, packaging manufacturers are turning to recycled plastics, especially from PET (polyethylene terephthalate) and HDPE (high-density polyethylene), as eco-friendly alternatives to virgin plastics.
Packaging companies in Egypt are also driven by regulatory pressures, such as the government’s ban on single-use plastic bags, which pushes manufacturers to adopt more sustainable practices. Additionally, the use of recycled plastic can result in significant cost savings for companies. Recycled plastic often comes at a lower price compared to virgin plastic, providing packaging manufacturers with an affordable option that still meets quality and safety standards.
The packaging industry’s innovation, such as incorporating recycled plastics into flexible packaging materials like films and pouches, further supports the growing demand for recycled plastics, making it an essential sector in Egypt’s plastic recycling market.
The automotive industry in Egypt is another key sector driving the demand for recycled plastics. As automakers aim to meet environmental standards and improve fuel efficiency, they are increasingly incorporating recycled materials into vehicle production.
According to The Observatory of Economic Complexity (OEC), Egypt exported $48.7 million in cars in 2023, ranking as the 67th largest exporter of cars globally. During the same year, cars were the 162nd most exported product from Egypt.
Technological Advancements in Recycling:
Technological advancements in recycling processes are also driving the growth of Egypt’s plastic recycling market.
In recent years, there has been a significant investment in advanced recycling technologies that improve the efficiency and quality of recycled plastic materials.
These technologies include innovations in sorting, cleaning, and processing plastic waste, which allow for higher-quality recycled plastics that can be used in a wider range of products.
One example of such advancements is the development of more efficient mechanical recycling processes that can handle mixed plastic waste streams.
These processes have allowed for a higher rate of material recovery and greater purity of recycled plastics, making them more suitable for use in industries such as packaging, automotive, and consumer goods.
Chemical recycling technologies, which break down plastic polymers into their raw materials, are gaining traction in Egypt. This method allows for the recycling of plastics that are traditionally difficult to process, such as multilayer packaging and mixed plastics.
As these technologies become more widespread, they will enhance Egypt’s ability to recycle a broader range of plastics, further boosting the recycling market.
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