Every year, countries in the Gulf Cooperation Council (GCC) produce around 10 million tons of plastic waste but, on average, reuse or recycle only some 10%. The key factor influencing the recycled plastics market is the increased demand for food packaging and construction applications. Recycled plastics demand achieved record online sales within the UAE’s food and beverage market in surging 255% year on year in 2020 to reach US$ 412 million, according to a Dubai Chamber analysis.
The UAE’s rigid plastic packaging landscape was not significantly affected owing to the increased consumption of essential consumer goods. Demand rose for packaging used with dietary supplements, such as vitamins usually packaged in plastic enclosures.
On January 18 this year, the UAE announced the creation of a quality-assured trading platform for plastics feedstock aimed at facilitating global trade in recycled plastics. The
Rebound Plastic Exchange (www.reboundplasticexchange.com) is scheduled to open for trading in mid-2022.