New Study: GCC Building & Construction Plastic Market to Display Significant Growth During 2021-26

According to MarkNtel Advisors, the GCC Building & Construction Plastic Market is likely to grow at a CAGR of 10.3% in the forecast period of 2021-26. The market growth primarily owes to the rapidly growing building & construction industry in GCC entwined with the easy handling & low maintenance of plastics. These properties of plastics are constantly enhancing their popularity and are expected to surge their demand for building & construction activities across the GCC region in the forecast period.

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Key Questions Answered in the Study
1. What are the current and future trends in the GCC Building & Construction Plastic Market?
2. How has the industry been evolving in terms of geography and services adoption?
3. How has the competition been shaping across various countries, followed by their comparative factorial indexing?
4. What are the key growth drivers & challenges for the GCC Building & Construction Plastic Market?
5. What are the customer orientation, purchase behavior, and expectations from the Building & Construction Plastic providers?

Polystyrene (PS) Accounted for Significant Share of GCC Building & Construction Plastic Market

Based on the Type, the GCC Building & Construction Plastic Market segments into Thermosets, Thermoplastics, Engineering Materials, and Others. Thermoplastics further bifurcate into Commodity Materials, Polyvinyl Chloride (PVC) & Chlorinated Polyvinyl Chloride (CPVC), Polypropylene (PP), Polystyrene (PS), and Thermoplastic Olefin (TPO). Of them all, Polystyrene (PS) accounted for a decent share in recent years. PS retains heat across infrastructures while maintaining low temperatures at refrigerated spaces. Besides, its lightweight property facilitates utmost safety at times of lifting heavy materials. Furthermore, the minimal transportation cost of Polystyrene, excellent thermal insulation, high impact resistance, coupled with its easy installation & handling, made it a popular choice across GCC in the past few years.

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Thermosets to Dominate the GCC Building and Construction Plastic Market with the Largest Share

Based on Type, the GCC Building & Construction Plastic Market segments into Thermosets, Thermoplastics, Engineering Materials, and Others. Of them all, Thermosets dominated the market with the largest share in recent years and are expected to continue their dominance in the forecast period. It principally owes to their burgeoning demand for constructing building components like canopies, window & skylight, barrel vaults, roof domes & louvers, security glazing, translucent walls & signage, cladding panels, roofing, etc.

Since thermosets are tough, flame resistant, robust, & easy to blend and make plastic favorable for multiple construction applications, their demand is flooding across GCC. Hence, based on these aspects, they are projected to attain the largest market share in the forecast period, reveals MarkNtel Advisors in their research report, "GCC Building & Construction Plastic Market Analysis, 2021."

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Key Market Competitors
According to MarkNtel Advisors, the leading players in the GCC Building & Construction Plastic Market are BASF SE, Dow Chemical, Qatar Plastic Products Company (QPPC), Saudi Arabia Basic Industries Corporation, ExxonMobil Chemicals, The Dow Chemical Company, LyondellBasell Industries (Lyondell Chemical CO.), Ineos Group AG, Arkema S.A., Harwal Group, Al Barshaa Plastic Product Company LLC.

Market Segmentation
1. By Type (Thermosets (Silicone, Polyurethane, Phenolic, Thermoplastics), Thermoplastics (Commodity Materials, Polyvinyl Chloride (PVC) and Chlorinated Polyvinyl Chloride (CPVC), Polypropylene (PP), Polystyrene (PS), Thermoplastic Olefin (TPO)), Engineering materials (Polyoxymethylene (POM) or Polyacetal, Polycarbonates (PC), Polyethylene Terephthalate (PET), Acrylonitrile Butadiene Styrene (ABS)), Others (Polyamides (nylon), Polyphenylene Ether (PPE)))
2. By Application (Cladding Panels, Insulation Materials, Worktops and Membranes, Windows & Doors, and Others (Shuttering, Wall Linings, Floor Covering, etc.))
3. By Countries (Saudi Arabia, United Arab Emirates, Bahrain, Kuwait, Oman, Qatar)
4. By Competitors (BASF SE, Dow Chemical, Qatar Plastic Products Company (QPPC), Saudi Arabia Basic Industries Corporation, ExxonMobil Chemicals, The Dow Chemical Company, LyondellBasell Industries (Lyondell Chemical CO.), Ineos Group AG, Arkema S.A., Harwal Group, Al Barshaa Plastic Product Company LLC)

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About us:
MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.