The Latin America, Middle East and Africa Recycled Plastics Market would witness market growth of 12.0% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 4,789.1 kilo tonnes, showcasing a growth of 9.8% (2024-2031).
Plastic bottles serve as a significant source for the Recycled Plastics Market, contributing to the sustainable management of plastic waste. Through efficient collection and recycling processes, post-consumer plastic bottles are transformed into high-quality recycled resin, known as rPET (recycled polyethylene terephthalate). Thus, the Brazil market would utilize 1,597.9 kilo tonnes of Recycled Plastics for Plastic bottles by 2031.
The Brazil market dominated the LAMEA Recycled Plastics Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,326.8 million by 2031. The Argentina market is showcasing a CAGR of 13.2% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 11.8% during (2024 - 2031).
Pipes and fittings for stormwater management, sewer lines, and drainage systems are frequently made from recycled HDPE and PVC (polyvinyl chloride). Made from recycled plastics, polystyrene (EPS) is an insulating material used in floors, roofs, and walls to decrease heating and cooling costs and increase energy efficiency. Roofing materials, including shingles, tiles, and membranes, are made from recycled plastic.
Bio-based plastics are developed from renewable sources such as plant-based feedstocks, algae, and bacteria. Creating biodegradable plastics that break down into natural components under specific environmental conditions reduces plastic pollution and environmental impact. Implement smart recycling technologies using artificial intelligence (AI), machine learning, and robotics to improve plastic waste's sorting, separation, and processing. Integration of sensor-based systems for real-time monitoring and optimization of recycling processes.
Dubai is increasingly focusing on sustainable development and reducing its environmental footprint. The government of Dubai has implemented regulations and policies to promote sustainable construction practices. Initiatives such as green building codes, sustainable procurement policies, and waste management regulations encourage using recycled materials, including recycled plastics, in construction projects in Dubai. It offers a cost-effective and resource-efficient alternative to traditional construction materials in Dubai. Using recycled plastics helps reduce material costs, lower construction expenses, and improve the overall efficiency of construction projects in Dubai. The Dubai Statistics Center reports that 1,941 of the 13,236 buildings under construction in Dubai in 2022 were completed. Rapid urbanization has boosted the demand for housing, business space, and public facilities. The substantial expansion of cities such as Dubai and Abu Dhabi have required additional infrastructure and real estate projects. Thus, due to these aspects, the market will expand across the LAMEA region in upcoming years.
Free Valuable Insights: The Worldwide Recycled Plastics Market is Projected to reach USD 106.6 Billion by 2031, at a CAGR of 9.2%
Based on Product, the market is segmented into Polyethylene, Polypropylene, Polyethylene Terephthalate, Polyvinyl Chloride, Polystyrene, and Others. Based on Source, the market is segmented into Plastic Bottles, Plastic Films, Polymer Foam, and Others. Based on Application, the market is segmented into Packaging, Building & Construction, Electrical & Electronics, Textiles, Automotive, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Product (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Source (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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