Saudi Arabia Plastic Products Market Overview:
According to MarkNtel Advisors study 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. The market is driven primarily by the kingdom's thriving economy, high standard of living, and increased consumer spending. The country’s most ambitious initiative, Saudi Vision 2023, which includes mega infrastructure development projects, are creating the need for plastic materials, ranging from pipes & fittings to insulation & packaging solutions, for various purposes.
Key Findings of the Study: Saudi Arabia Plastic Products market
Saudi Arabia Plastic Products Market Growth Opportunity
Steady Rise in the Demand for Biodegradable Plastics - The implementation of new regulations in Saudi Arabia requiring plastic products to be made of approved oxo-biodegradable material cites a promising growth prospect for the plastic products market in the country. The demand for environmentally friendly biodegradable plastics is likely to grow as businesses & consumers seek compliant alternatives. This shift impacts a wide range of plastic products and encourages innovations and the adoption of advanced solutions. By capitalizing on this opportunity, the key players operating in the Saudi Arabia plastic products industry can align with sustainability goals, propel economic growth, and contribute to a greener future.
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Scope of the Saudi Arabia Plastic Products Market Report Segmentation
-By Product
· Bottles & Containers
· Bags & Pouches
· Packaging Materials
· Pipes & Fittings
· Films & Sheets
· Foam Products
· Others (Molded Products, etc.)
-By Technology
· Injection Molding
· Extrusion Molding
· Blow Molding
· Others
-By End-User
· Automotive & Transportation
· Electrical & Electronics
· Medical
· Construction
· Others
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Geographical analysis:
-By Region
· North
· East
· West
· South
· Central
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.
Current Landscape of Saudi Arabia Plastic Products Market
The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Saudi Arabia Plastic Products market. The research report profiles major players, including
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· 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
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