The import of plastics waste or scrap to the Philippines is projected to rise steadily between 2024 and 2028. In 2024, the value is forecasted at 7.1282 million USD. Over the next few years, this value will incrementally increase to 8.3634 million USD by 2028. Comparatively, the growth rate from 2024 to 2025 is approximately 4.46%, while from 2025 to 2026, it is around 4.18%. This upward trend reflects a consistent year-on-year growth, indicative of incremental increases each year. The Compound Annual Growth Rate (CAGR) over this five-year period stands close to 4.04%, demonstrating stable long-term growth.
Future trends to watch for include: - Potential regulatory changes impacting import policies for plastic waste. - Innovations in recycling technologies that might alter import demand. - Environmental advocacy and sustainability measures that could influence import volumes and values.
