Investing in a glass recycling plant project in Iraq represents an investment opportunity in 2022. Iraq is currently distinguished by its commitment to providing full support to drive investment in the country, supporting Vision 2030 to advance the national economy, rebuild and strengthen the foundations of the non-oil economy, and strive to position the Iraqi economy in a distinguished position among global economies.
What is a glass recycling plant?
Glass is a major component of industrial and household waste, with damaged glass products, such as glass bottles, broken glassware, light bulbs, and more, frequently found in landfills.
There are various methods for separating and collecting glass waste. Most glass recycling plants prefer to separate and group glass waste into groups based on color, as glass retains its true color even after undergoing the recycling process.
The Iraqi government encourages manufacturing industries and aims to increase their contribution to the country’s gross domestic product (GDP). Mashroo3k Consulting Company indicates that by the end of 2022, the manufacturing industries’ contribution to the country’s GDP is expected to reach 3,088.5 billion dinars. Daily per capita waste production is expected to increase by 8%, bringing the total amount of regular waste removed from Iraq annually to 10,593,576.6 tons/year.
For more details on the latest economic sector indicators and investment opportunities in Iraq, as well as the most prominent funding agencies supporting successful investment projects in Iraq, you can contact the investor services team at Mashroo3k Consulting.
Global Glass Recycling Indicators
Glass recycling involves converting waste glass into usable products, using less energy than the energy required to manufacture new glass products. Studies indicate that for every ton of glass waste recycled, 315 kg of carbon dioxide is saved from being released into the atmosphere during the manufacture of new glass.
In 2020, the global glass recycling market was valued at USD 3,013.2 million, and is expected to grow at a CAGR of 6.9% to reach USD 4,807.1 million by 2027.
