openPR Logo
Press release

Molded Plastics Market - GCC Industry Analysis 2023

12-13-2016 02:22 PM CET | Industry, Real Estate & Construction

Press release from: Transparency Market Research

GCC, short for Gulf Cooperation Council, represents the alliance of some of the world’s leading producers of petrochemicals – the key raw materials required for the production of synthetic polymers. These six countries are the major exporters of raw polymer to the entire globe and are second only to India when it comes to the growth rate of the polymer market. Thus, GCC countries play a major role in the overall development of the global plastics industry and are a key determinant of growth of the molded plastics market.

With high fragmentation in terms of number of suppliers and a level of extreme consolidation when it comes to geographic placement of major vendors, the GCC molded plastic market features a splendid mix of intense competition and plenty of untapped growth opportunities. Transparency Market Research states that companies in the market will focus more on expansion strategies in the next few years; strengthening product portfolios by including new product verities and ventures in foreign markets will be amongst the most preferred growth strategies.

Get Free PDF Research Brochure for more Professional and Technical Insights:

The overall market will expand at a healthy CAGR of 8.3% over the period between 2015 and 2023, and rise from a valuation of US$7.19 bn in 2014 to US$14.22 bn by 2023. In terms of volume, the GCC molded plastics market stood at 2.82 mn tons in 2014.

Market to Gain Traction across Packaging Sector

In 2014, the GCC molded plastic market attributed a dominant share of nearly 52% to its applications in the packaging industry. The sector will continue to be the dominant application for molded plastic in the GCC market and will account for nearly 56% in the overall market by 2023.

The packaging industry in the region is flourishing owing to the constant rise in trade activities and the substantial rise in the market for industrial and consumer goods in response to the vast rise in the region’s population. This has created manifold growth opportunities for molded plastics in the packaging sector in the past few years and will continue to drive the region’s molded plastic market in the years to come.

The building and construction industry is another highly attractive application area for the GCC molded plastic market as it accounts for a major share in the overall consumption of molded plastics in the region. Stimulated by the rising population in the region, increased government spending on developing residential building projects as well as public and private infrastructure projects will also prove to be beneficial for the GCC molded plastics market in the next few years.

Saudi Arabia, Qatar, and Oman to Present Attractive Growth Opportunities

The GCC molded plastics market will gain the most attractive returns from operations across Saudi Arabia, Qatar, and Oman in the next few years. Saudi Arabia being home to nearly 60% plastic converters in the overall GCC molded plastics market, will continue to be the leading supplier of molded plastic in the market. The market for molded plastics in these countries will also benefit from the flourishing construction industry.

The UAE and Kuwait have been rated as moderately attractive countries for the GCC molded plastics market. The market in these countries has suffered a huge blow from the steep drop in crude oil prices observed recently. However, the construction industry has allowed for average growth of the molded plastics market in these countries.

Some of the leading companies operating in the highly fragmented GCC market for molded plastics, which accommodates over 1,000 plastic converters, are Harwal Group, Al Barshaa Plastic Product Company LLC., Genoa Plastic Industries, Takween Advanced Industries, and Obeikan Investment Group.

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Molded Plastics Market - GCC Industry Analysis 2023 here

News-ID: 395239 • Views: 344

More Releases from Transparency Market Research

Cosmetic Bottles Packaging Market To Experience A Hike In Growth By 2017 - 2022
Global Cosmetic Bottles Packaging Market: Snapshot The global cosmetic bottles packaging market is projected to improve its value to a significant high in the coming years. The buying decision of cosmetic product consumers could be influenced by the technique, material, and design of packaging. Get report details: Besides marketing cosmetic products, packaging could play a critical role in protecting them from damage during handling or traveling. Cosmetic bottles packaging is foreseen to
Track and Field Spikes Market Size, Share, Top Region, Key Players 2017 - 2025
Global track and field spikes market: Snapshot The significant increase in popularity of sports across the world and the dramatic rise in participation of female athletes has been showing a positive impact on the demand for track and field spikes. Apart from this, the escalating number of track and field events, including running, jumping, and throwing, are also boosting their demand substantially. Get report details: Over the forthcoming years, the continual innovation
Pharmaceutical Plastic Bottles Market Key Players, Size, Trends, Opportunities a …
U.S. Pharmaceutical Plastic Bottles Market: Snapshot The U.S. pharmaceutical plastic bottles market derives much of its growth by addressing the growing sustainability concerns by increasing the recycling rate of plastics and lowering the environmental impact in the pharmaceutical industry. The advancements in the technology has emerged as the key growth driver of this market. Apart from this, the rising application of plastic bottles in solid and liquid oral medications is also
Auto-disable Syringes Market Size, Specific Opportunities and Trends Affecting t …
Auto-disable Syringes Market Auto-disable syringes are meant for one-time use only and are built in a manner wherein the internal mechanism blocks the barrel used in the syringe when applied in the first use. Wellbeing syringes are Security Designed Gadget (SED) that utilizes injury assurance component which gives insurance from blood borne microorganisms or substance perils. Contamination avoidance among patients just as medical care experts like specialists, attendants, and other staff

All 5 Releases

More Releases for GCC

GCC Clinical Trial Market Outlook Insight 2025
"GCC Clinical Trial Market Outlook 2025" Report Highlights: • GCC Clinical Trial Market Opportunity: >US$ 500 Million • GCC Disease Prevalence & Statistics • Saudi Arabia Dominating GCC Clinical Trial Landscape: > 500 Trials • Clinical Trials for Cancer in GCC: > 120 Trials • Guidelines For Conducting Clinical Trials by Country • Ongoing Clinical Trials Insight by Country Download Report: Table of Contents 1. GCC Clinical Market Regional Insights 2. GCC Clinical Trial Market Dynamics 2.1 Driving Forces for GCC Clinical Trial
GCC Digital Signage Market-(2017-2023)
Market Forecast By Components (Display Screens, Content Players and Software), By Display Screen Types (Single Screen, Video Wall or Multi Screen and Digital Signage Kiosk), By Display Screen Technologies (LED, OLED and QLED), By Display Screen Size (Below 40", 40"-55" and Above 55"), By End User Applications (Government & Transportation, Retail, Healthcare & Hospitality, Education, Entertainment, Banks & Financial Institutions and Commercial Offices & Buildings), By Countries (Saudi Arabia, Bahrain
GCC Medium Voltage Switchgear Market (2017-2023)
Increasing infrastructure development activities, rising commercial sector and large scale investments in the power transmission & distribution network are the major factors that would drive the market of medium voltage switchgear market in GCC region. According to 6Wresearch, GCC Medium Voltage Switchgear Market is projected to reach $1.4 Billion by 2023. Medium voltage switchgear market in GCC has witnessed robust growth over the past five years due to growing electricity
MEED Insights: GCC Projects Outlook Report 2018
The market has been in freefall for more than two years. It’s never been more important for companies to have concise, accurate and comprehensive market intelligence than today. GCC Projects Outlook 2018 evaluates this new market and highlights the markets, sectors and projects presenting the best growth opportunity. It provides critical data to help you make key business decisions and inform your strategy. Using data from more than 15,000 live projects, this
Changing Dynamics of GCC Fertilizer Industry
Market Insights The changing dynamics of the GCC Fertilizers Market include rising population, falling commodity prices globally, and intense competition from abroad. In 2016, GCC fertilizer sales declined by 21%, to USD 5.2 billion. The same scenario was noted in 2015, wherein, the sales revenue dropped by 10%. The report provides a detailed analysis of the GCC fertilizer market, which is broadly segmented based on type and geography. Based on the type,
Emerging Renewable Energy Implementation in GCC
GCC region is shifting focus from its most prized asset, hydrocarbons. Oil and gas, though, still dominates the trade in and out of the GCC Region but it is looking to develop its renewable sources of energy as well. All the GCC countries have started to take the renewable energy way, contrary to their most important possession, non renewable (Hydrocarbons). The growing economy with growing population has affected a growth