Plastics, while revolutionizing our world, have left an undeniable impact on the environment, prompting a global call for sustainability. In this insightful video, Onur Dursun, Senior Consultant, Chemicals & Materials Growth Advisory at Frost & Sullivan, explores the critical issues surrounding global plastic waste and sheds light on Saudi Arabiaโ€™s remarkable commitment to sustainable solutions.

Environmental Impact of Plastics:

Plastics have transformed industries and lifestyles, but their environmental consequences are stark. The world faces a plastic waste crisis, demanding a shift towards sustainability and circularity in the plastics industry.

Saudi Arabiaโ€™s Pledge:

Saudi Arabia is committed and is taking decisive action. With a pledge to invest 100 Billion Saudi Riyals by 2035, the goal is to divert more than 90% of the total waste generated away from landfills. This ambitious initiative is spearheaded by the National Center for Waste Management and a subsidiary of the Public Investment Fund (PIF), the Saudi Investment Recycling Company.

Industry Collaborations:

In the pursuit of plastic circularity, SABIC and SIRC are joining forces to establish a chemical recycling plant. SABIC, in reaffirming its commitment, plans to process 1 million tons of plastics through its Trucircle solutions initiative, marking a significant step towards a circular carbon economy.

FMCG Commitment:

Major Fast-Moving Consumer Goods (FMCG) companies are also stepping up. Over 80 consumer packaged goods companies are working towards incorporating between 15% to 50% recycled content in their packaging by 2050. This commitment showcases a collective effort to address the environmental footprint of plastic packaging.

Current Recycling Status:

Frost & Sullivanโ€™s analysis indicates that approximately 10% of the total plastic waste generated in the Kingdom, around 3 million tons, is currently being recycled. The potential for growth in reaching the countryโ€™s waste management targets is substantial.

Whether youโ€™re an investor or an industry player, gain valuable insights for crafting effective market entry plans in the evolving landscape of plastic recycling via this video:

Be Part of the Transformation!

Join Frost & Sullivan on this impactful journey towards a sustainable future for Saudi Arabia and the planet. From assessing growth possibilities to guiding market entry, Frost & Sullivan is dedicated to providing the knowledge and direction needed for success. The plastic recycling sector is at the brink of a significant transformationโ€”be informed, be involved!

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