Showing posts with label Recycling. Show all posts
Showing posts with label Recycling. Show all posts

Industrial Waste Market in Saudi Arabia Set for Steady Growth

According to the latest market research study published by P&S Intelligence, the Saudi Arabian industrial waste management market is projected to generate an estimated revenue of USD 2,940.0 million in 2024, with expectations to reach USD 4,054.0 million by 2030, advancing at a CAGR of 5.5% during the forecast period. This growth is primarily driven by the expansion of industrial production, the implementation of the Vision 2030 economic diversification plan, increased awareness regarding proper industrial waste disposal, and government-led sustainability and environmental protection initiatives.

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Key Insights

Segmentation Analysis:

The market encompasses various services, including landfilling, recycling, collection, and incineration. Among these, the collection service category holds the largest market share, reflecting the emphasis on systematic waste gathering processes.

In terms of waste sources, sectors such as construction and demolition, manufacturing, chemical, mining, oil and gas, agriculture, and nuclear contribute significantly to industrial waste generation. Notably, the chemical, oil and gas, and nuclear industries are major producers of hazardous waste, a trend expected to persist due to the country's escalating demand for energy and chemical products.

Regional and Geographical Trends:

The Eastern region of Saudi Arabia leads the market, attributed to its dense concentration of industrial activities and facilities. Meanwhile, the Western region is identified as the fastest-growing area, driven by increasing industrialization and supportive government policies promoting waste management practices.

Technological Advancements Shaping the Market:

There is a notable trend toward environmental sustainability, with efforts to leverage advanced technologies for treating industrial waste and extracting valuable resources, such as through waste-to-energy initiatives.

The recycling of plastics and metals is gaining momentum as a crucial approach to environmental sustainability, addressing the challenges posed by non-biodegradable waste materials.

The adoption of artificial intelligence (AI) and automated devices is revolutionizing waste collection, separation, storage, and processing. AI-driven sorting devices enhance the efficiency of handling mixed waste materials, reducing human involvement and increasing operational efficiency.

Competitive Dynamics, Major Players, and Emerging Opportunities:

The market is characterized by a fragmented nature, with numerous players offering diverse waste management services.

Government sponsorships and initiatives play a pivotal role in market growth. The establishment of the National Center for Waste Management (NCWM) under Saudi Vision 2030 aims to standardize regulations and simplify investment incentives, encouraging both public and private sector participation in comprehensive waste management ecosystems.

The mandate for industrial establishments to engage with accredited waste management companies underscores the government's commitment to structured and effective waste disposal practices, presenting opportunities for service providers in the sector.

These insights highlight the dynamic landscape of Saudi Arabia's industrial waste management market, underscored by technological innovation, regional developments, and supportive regulatory frameworks.
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How Technological Advancements Are Helping Recycled Plastic Market Advance

The size of the worldwide recycled plastic market was around $59,777.3 million in 2021, which is expected to advance at a CAGR of 8.5% in the coming years and reach a value of $124,314.1 million by 2030. The primary factors driving the growth of the market include the increasing focus on reducing the volume of plastic waste, supportive government policies and initiatives to surge the acceptance of recycled products, and growing awareness of energy savings.

The revenue produced from plastics recycled from packaging materials is likely to grow with over 8% CAGR in the market in the near future. This can be credited to the relative ease of recycling packaging materials produced from bottles, films, pouches, and wraps. Moreover, the increasing demand for reprocessed products and ease of commercial adoption of power-driven recycling for packaging waste drive the market. Additionally, government initiatives and policies focusing on integrating recyclable materials in the packaging industry, to decrease the volume of non-recyclable waste, are projected to help the market growth.


APAC had the largest revenue share in the recycled plastic market in 2021. The region has a lot of potential for producing recycled plastics due to the increasing imports of plastic waste and accessibility of domestic waste and low-cost labor, which permits easier collection, cleaning, and sorting. These factors have played a major part in the market growth in the countries like China and India, which account for a huge volume of plastic waste production.

The European recycled plastic market will grow at the highest CAGR in the coming years. This can be ascribed to the expansion of domestic recycling facilities, banning of plastic waste import by China, government policies for resurging local manufacturing, and environmental sustainability targets intended at integrating recycled products throughout the supply chain. The adoption of technological advancements in recycling plastic has helped the market in this region advance at a significant pace.

Cutting-edge technologies in the field of plastic recycling are helping in the expansion of the recycled plastic market by keeping more plastics out of the environment and putting it to productive use. The plastic industry is continuously developing and coming up with new ideas for recycled plastics. As per a study published in AMI International, progressive recycling technologies could process 5–15 million tons of added plastic waste every year by 2030.

The food and beverage industry is the largest in terms of recycled plastic market revenue generation, owing to the high volume of plastics consumed for product storage and transportation in bottles, packaging films, trays, bins, and disposables, which is responsible for the generation of a large volume of plastic waste. The volume of waste produced by the food and beverage industry puts companies under pressure to integrate the recycling process into the whole supply procedure. 

One of the key players in the beverage industry, Coca-Cola, has decided to lessen packaging waste in the U.S. and around the globe.  It was decided to collect and recycle a bottle or can for every unit sold by 2030, to make the entire packaging recyclable by 2025, and to make bottles and cans with 50% recycled materials by 2030. The plant-based PET bottle of the company, which is 100% recyclable, has already started making waves in the field.

Hence, the industry is set to grow with the rising technologies entering the domain of plastic recycling.
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