Middle East & Africa Recycled Ocean Plastics Market Size & Outlook
Middle East & Africa recycled ocean plastics market, 2019-2030 (US$M)
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MEA recycled ocean plastics market highlights
- The MEA recycled ocean plastics market generated a revenue of USD 26.5 million in 2023.
- The market is expected to grow at a CAGR of 3.5% from 2024 to 2030.
- In terms of segment, polyethylene terephthalate (pet) was the largest revenue generating resin in 2023.
- High-density Polyethylene (HDPE) is the most lucrative resin segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 26.5 million |
| Market revenue in 2030 | USD 33.7 million |
| Growth rate | 3.5% (CAGR from 2023 to 2030) |
| Largest segment | Polyethylene terephthalate (pet) |
| Fastest growing segment | High-density Polyethylene (HDPE) |
| Historical data covered | 2019 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | High-density Polyethylene (HDPE), Low-density Polyethylene (LDPE), Polypropylene (PP), Polyethylene Terephthalate (PET), Polystyrene (PS), Polyvinyl chloride (PVC) |
| Key market players worldwide | Simpson Manufacturing Co Inc, Mitek Systems Inc, Eurotech Ltd, Globus Medical Inc Class A, Oceanworks, Aquafil SpA, Ocean Plastics, The Ocean Cleanup, Oceanus, Textil Santanderina, SeQual Technologies, Waterhaul, Bionic, Bureo Skateboards, Tide Ocean, Plastixs, POPSICASE, Parley, Econyl |
Other key industry trends
- In terms of revenue, MEA region accounted for 1.5% of the global recycled ocean 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 1,352.3 million by 2030.
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Recycled Ocean Plastics Market Scope
Recycled Ocean Plastics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Middle East & Africa recycled ocean 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 recycled ocean plastics market will help companies and investors design strategic landscapes.
Polyethylene terephthalate (pet) was the largest segment with a revenue share of 36.6% in 2023. Horizon Databook has segmented the Middle East & Africa recycled ocean plastics market based on high-density polyethylene (hdpe), low-density polyethylene (ldpe), polypropylene (pp), polyethylene terephthalate (pet), polystyrene (ps), polyvinyl chloride (pvc) covering the revenue growth of each sub-segment from 2019 to 2030.
The Middle East & Africa is the world leader in crude oil production. Many major countries of the region are dependent on the oil business, such as Saudi Arabia, Kuwait, Oman, Bahrain, Libya, Iraq, Angola, and Iran. All the OPEC countries, excluding Venezuela and Ecuador, are located in the Middle East & Africa.
The cost associated with producing virgin plastic is less as compared to producing recycled plastic in the region owing to the abundance of crude oil availability. According to an article published by Recycle Today, plastic waste constitutes 12% to 16% of the total solid waste in the Middle East & Africa.
Ocean Sole, a Kenya-based company, is creatively upcycling discarded flip flops, often made of plastics or rubber that pollute oceans and landfills. This company collects flip flops from beach cleanup drives and other sources and pays collectors for them.
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Our clientele includes a mix of recycled ocean plastics market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa recycled ocean plastics market, including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa recycled ocean plastics market from 2019 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa Recycled Ocean Plastics Market Share, 2023 & 2030 (US$M)
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