The import of plastics waste or scrap to Australia has seen a fluctuating trend. In 2023, the value stood at $9.5329 million, showing a slight increase of 2.84% from the previous year. Over the last two years, the import value rose by 12.14%, and the average annual growth rate (CAGR) over the past five years was 2.75%.
Future projections indicate a steady increase with a forecasted value of $10.88 million in 2028. The forecasted five-year CAGR is 2.13%, representing a total growth rate of 11.13% by 2028.
Trends to watch for:
- Government regulations and policies on waste management.
- Global market demand and supply dynamics for recycled plastics.
- Technological advancements in recycling processes.
- Shifts in consumer behavior towards sustainability.
