Khaled Abu Al-Makarem, Chairman of the Export Council for Chemical and Fertilizer Industries, stated that the number of companies in the plastic sector has exceeded 12,000 establishments, with investments surpassing $14 billion.

In a statement to Al-Borsa, Abu Al-Makarem revealed that Egypt’s plastic production reached approximately $8.5 billion last year, with around $3 billion directed towards exports.

He highlighted that plastic exports account for 30% of the export value of the chemical and fertilizer industries sector, with major destinations including Turkey, Italy, Belgium, Spain, the United States, Algeria, Iraq, the UK, Morocco, Germany, and Kenya.

He anticipated a 10% increase in the demand for plastic by the end of this year, due to its essential applications in the automotive industry, household goods, clothing, packaging, agriculture tools, and medical devices. Abu Al-Makarem also emphasized the sector’s capability to produce high-quality products at competitive prices, facilitating entry into European markets.

He mentioned that the council will hold a meeting with the Ministry of Environment next week to develop a system aimed at reducing waste in the sector and establishing mechanisms for waste collection and recycling into environmentally friendly products.