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SABIC: Recycled plastics market faces two major challenges

 Last Update: 2022-08-19
 Source: Internet
 Author: User

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The growing global emphasis on environmental sustainability has driven the market for recycled plastics, Janardana Ramanujaru, Vice President and Head of South Asia and Australia at Saudi Basic Industries Corporation (SABIC), said in an interview recentl.

Ramanujaru said: “The global market for recycled plastics is expected to grow from US$29 billion in 2021 to US$45 billion in 202The strong growth in global demand for recycled plastics over the next five years is driven by advances in recycling technology and increased demand for It is underpinned by a greater awareness of the environmental benefits of recycling plastic.

Ramanujaru believes that despite the rapid increase in recycling plastic capacity, it still cannot meet deman.

In addition to the source of raw materials, consistency in the certification of recycled plastics across countries is another ongoing challenge for the recycled plastics industr.

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