The Saudi Arabia Plastic Products market is projected to grow at an astronomical rate owing to the factors such as burgeoning demand for plastic among electronics and electrical due to significant growth in the demand for smartphones and other smart appliances along with rising investment in the construction activities fuelling the demand for fitting & pipes, roofing etc. Besides these, improving lifestyle of people due to increase in per capita income propelling sales of automotive and increasing product demand from healthcare & pharmaceutical are anticipated to upsurge the growth of Plastic product in the country over the forecast period.
According to MarkNtel Advisors’ research report “Saudi Arabia Plastic Products Market Analysis, 2021”, the Saudi Arabia Plastic Products market is anticipated to grow at a CAGR of around 5% during 2021-26. Based on Technology, Injection Molding is witnessing significant market growth in 2020. This is due to burgeoning spending toward the infrastructure development as a part of Saudi Vision 2030 and introduction of various smart city project which is mounting the demand for injection moulding due to its material stability and recyclability, higher energy efficiency and durability.
“Saudi Arabia Plastic Products Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Plastic Products providers across the region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Automotive & Transportation Acquired the Significant Market Share
Based on End-User, Automotive & Transportation acquired a considerable market share in the Saudi Arabia Plastic Products in 2020. The automotive sector is among the major consumption of plastic products due to its high usage in various automotive components and parts such as in thermal insulator and noise & vibration dampener, seat cushioning etc. Apart from this, the increasing demand for luxury cars, strong growth in the automotive and transportation sector, and rising inclination towards the adoption of an electric vehicle to curb carbon emission are some of the factors strongly contributing towards the market growth of the Plastic Products in the forthcoming period as revealed by the MarkNtel Advisors’ research report “Saudi Arabia Plastic Products Market Analysis, 2021”.
According to MarkNtel Advisors’, the key players with a considerable market share in Saudi Arabia include 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 etc.
Key questions answered in the study