Market Overview

Market Overview

Global Plastics achieved a peak revenue of $200.0 millionin Y2023; recorded a valuation of 712 billion U.S. dollars.

Plastic Recycling market valued at USD 46.5 Billion in 2022, is projected to rise and reach an impressive US$86.7 billion by 2030: Compound Annual Growth Rate (CAGR) of 4.7% between 2023 and 2030.

The Petrochemicals market is anticipated to attain approximately USD 910.5 billion.

Forecasts indicate a compound annual growth rate (CAGR) of 4.2% from 2024 to 2030, positioning the market to surpass 1,050 billion U.S. dollars by 2033.

The Petrochemical sector stands as a pivotal cornerstone within the country's Industrial Strategy, "Operation 300bn."

This strategic initiative aims to elevate the GDP from AED 133 billion to AED 300 billion by the year 2031.

The plastic recycling market is poised for substantial growth, with an anticipated CAGR of 5.34% and is set to reach an impressive 1.44 million tonnes by 2030.

Simultaneously, the plastic packaging market is expected to experience growth at a CAGR of 5.02% during the forecast period from 2024 to 2029.