The idea of the project is based on the establishment of a factory, which works on the production of plastic bags, and this project targets packaging factories, food factories, supermarkets, hypermarkets, wholesale and retail stores, and others. There is no doubt that this factory will be a good opportunity to employ labor, improve their economic and social level, and cover part of the existing demand for plastic bags.
In 2020, the global market size for plastic bags was estimated at USD 20.4 billion and is expected to reach USD 22.9 billion by 2027; thus, the market has achieved a CAGR of 1.7% during the period (2022-2027).
In 2021, Egypt imported about $4.093 billion worth of plastics and their manufactures.
The average annual growth rate of Egypt’s imports of plastics and their manufactures is 4.7% during the period (2014-2021).
In 2030, Egypt’s imports of plastics and their manufactures are expected to rise to $4.440 billion.
