MarkNtel Advisors recently published a detailed industry analysis of the Saudi Arabia Plastic Products Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Saudi Arabia Plastic Products Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2028
The Saudi Arabia Plastic Products Market size was valued at USD 8.3 billion in 2022 and is projected to grow at a CAGR of around 3.2% during the forecast period, i.e., 2023-28.
What are the major Driver the Saudi Arabia Plastic Products industry?
Proliferating Construction & Real-Estate Activities – Saudi Arabia is experiencing a significant transformation in its infrastructure as a part of their Vision 2030. Under this, the kingdom has envisioned diversifying its economy and developing public service sectors, seaports, railway lines, airports, & manufacturing facilities to minimize its economic dependence on oil & gas. For instance:
- Several plans are underway to construct the world’s largest airport, King Salman International Airport, in Riyadh. This ambitious project aims to accommodate a remarkable passenger capacity of 185 million, surpassing the combined capacities of London Heathrow & Dubai International Airports.
As such, Saudi Arabia is heavily investing in its construction sector. In fact, it plans to seek around USD 425 billion by 2030 for infrastructure, energy, mining, & other industrial projects, which would require a substantial amount of plastic to make components like hinges, screws, & bigger construction parts for wall covering, electric wiring, waterproofing, flooring, & decoration, among others.
Besides, Polyurethane spray and rigid polystyrene foam have also gained traction in the country owing to their excellent insulation properties. Hence, the emergence of the world’s largest construction site across the country, driven by Saudi Vision 2030 and burgeoning real estate activities, presents lucrative prospects for the Saudi Arabia Plastic Products Market through 2028.
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What segments define the Saudi Arabia Plastic Products Market from 2023 to 2028? How do these segments contribute to market dynamics and growt
By Product
- Bottles & Containers
- Bags & Pouches
- Packaging Materials
- Pipes & Fittings
- PVC (Polyvinyl Chloride) Pipes
- PE (Polyethylene) Pipes
- PP (Polypropylene) Pipes
- Others (Couplings, Elbows, Tees, Valves)
- Films & Sheets
- Foam Products
- Expandable Polystyrene (EPS)
- Extruded Polystyrene (XPS)
- Polyurethane (PU)
- Others (Molded Products, etc.)
By Technology
- Injection Molding
- Extrusion Molding
- Blow Molding
- Others
According to report, Among all, the Extrusion Molding Technology holds the most prominent share of the Saudi Arabia Plastic Products Market.
By End-User
- Automotive & Transportation
- Electrical & Electronics
- Medical
- Construction
- Others
According to report, Here, the automotive & transportation sector is likely to contribute considerably to the growth of the plastic products market during 2023-28, as it is one of the most prominent consumers of plastic products due to their high usage in various components & parts, such as thermal insulators, noise & vibration dampeners, seat cushions, etc.
Explore the Complete Saudi Arabia Plastic Products Market Analysis Report –
https://www.marknteladvisors.com/research-library/saudi-arabia-plastic-products-market.html
Geographical Analysis: Saudi Arabia Plastic Products
By Region
- North
- East
- West
- South
- Central
Saudi Arabia Plastic Products Market Share & Competitive Landscape:
The Saudi Arabia Plastic Products Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the Saudi Arabia Plastic Products Market are:
- Newell Brands Inc.
- Compagnie de Saint-Gobain S.A
- Sonoco Products Company
- Sealed Air Corporation
- Berry Plastics Corporation
- Tamam Plastic Factory
- Taldeen Plastic Solutions Ltd.
- Rowad National Plastic Company
- Falcon Plastic Products Company
- National Plastic Factory
Saudi Arabia Plastic Products Industry Recent Development:
On 21 June 2023, Berry Global, a leading packaging manufacturer, unveiled its latest spray-through overcap made using 50% recycled content to support customers in achieving their sustainability goals with recycled content.
Questions Addressed in this Study
1.What factors are driving the Saudi Arabia Plastic Products Market growth?
2.How is the Saudi Arabia Plastic Products Market expected to grow over the next five years?
3.What are the key insights into the current trends in the Saudi Arabia Plastic Products Market?
4.What is the current size of the Saudi Arabia Plastic Products Market, and how is it projected to change in the future?
6.What is the future outlook for the Saudi Arabia Plastic Products Market in terms of technological advancements and market expansion?
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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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