Middle East & Africa Chemical Recycling Of Plastics Market Size & Outlook
Middle East & Africa chemical recycling of plastics market, 2018-2030 (US$M)
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MEA chemical recycling of plastics market highlights
- The MEA chemical recycling of plastics market generated a revenue of USD 901.3 million in 2023.
- The market is expected to grow at a CAGR of 4.1% from 2024 to 2030.
- In terms of segment, depolymerization was the largest revenue generating type in 2023.
- Depolymerization is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 901.3 million |
| Market revenue in 2030 | USD 1,193.3 million |
| Growth rate | 4.1% (CAGR from 2023 to 2030) |
| Largest segment | Depolymerization |
| Fastest growing segment | Depolymerization |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Depolymerization, Dissolution, Conversion |
| Key market players worldwide | Agilyx ASA Ordinary Shares, Basf SE, INEOS, Veolia Environnement SA, Eastman Chemical Co, SABIC, LyondellBasell Industries NV Class A, Maire Tecnimont, Recycling Technologies, JEPLAN |
Other key industry trends
- In terms of revenue, MEA region accounted for 6.9% of the global chemical recycling of plastics market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 6,440.7 million by 2030.
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Chemical Recycling Of Plastics Market Scope
Chemical Recycling Of Plastics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa chemical recycling of plastics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to chemical recycling of plastics market will help companies and investors design strategic landscapes.
Depolymerization was the largest segment with a revenue share of 46.49% in 2023. Horizon Databook has segmented the Middle East & Africa chemical recycling of plastics market based on depolymerization, dissolution, conversion covering the revenue growth of each sub-segment from 2018 to 2030.
Industrial manufacturing in the Middle East & Africa (MEA) has witnessed steady growth in the past few years. A shift in focus toward the non-oil private sector in the region is predicted to boost manufacturing and other end-use industries, as well as diversify the economy of the region.
The efforts taken by various governments in the region to support the growth of plastic recycling in the industrial sector and achieve sustainability goals are anticipated to contribute to the growth of the market in the coming years.
All the Organization of the Petroleum Exporting (OPEC) countries, excluding Venezuela and Ecuador, are located in the MEA region. Moreover, the cost associated with producing virgin plastic is less compared to producing chemical-based recycled plastics in the region, owing to the abundance of crude oil availability. This factor is likely to restrain the market growth in the region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa chemical recycling of plastics market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa chemical recycling of plastics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA chemical recycling of plastics market size, by country, 2018-2030 (US$M)
Middle East & Africa Chemical Recycling Of Plastics Market Outlook Share, 2023 & 2030 (US$M)
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