Press Release

Burgeoning Demand for Engineering Plastics in Saudi Arabia to Boost GCC Building and Construction Plastic Market During 2023-28

The GCC Building & Construction Plastic Market is projected to grow at a CAGR of 10.3% in the forecast period of 2023-28, says MarkNtel Advisors in their research report. It owes to the rapidly increasing construction activities across residential & non-residential sectors, coupled with the rising demand for plastics due to their low price, durable, & flexible physical properties. 

Additionally, the growing use of recycled plastic in building & construction projects entwined with various initiatives by the government toward constructing green buildings shall also propel the demand for plastics in building & construction activities across the GCC region and fuel the overall market growth in the forecast period, further states the research report, "GCC Building & Construction Plastic Market Analysis, 2023."

Polyvinyl Chloride (PVC) & Chlorinated Polyvinyl Chloride (CPVC) to Reign the GCC Building and Construction Plastic Market Though 2026

Based on Type, the GCC Building and 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, under Thermoplastics, Polyvinyl Chloride (PVC) & Chlorinated Polyvinyl Chloride (CPVC) is expected to dominate the market with the largest share in the forecast period.

It owes to the wide application of PVC & CPVC in pipeline systems for wastewater & industrial purposes due to its no corrosion or scaling properties. Besides, PVC & CPVC are lightweight and can be easily molded & assembled into different shapes, resulting in a vast application and burgeoning demand. Furthermore, since this plastic is easy to remove & recycle, the demand for PVC & CPVC is booming due to its versatility. Hence, it is likely to drive the market in the forecast period and lead the segment to dominate with the largest share.

Saudi Arabia to Reign the GCC Building and Construction Plastic Market Through 2028

Based on the Geography, the GCC Building and Construction Plastic Market expands across Saudi Arabia, United Arab Emirates, Bahrain, Kuwait, Oman, and Qatar. Of them all, Saudi Arabia accounts for the largest market share due to massive investments by the country in its healthcare industry. It propels the demand for top-notch infrastructure, hospital bed capacity, & long-term care centers, i.e., several construction projects in the country, thereby directly impacting the GCC Building and Construction Plastic Market.

Besides this, privatization of hospitals and increasing expenditure in healthcare shall augment the demand for engineering plastic and lead the country to hold the largest market share in the forecast period, reveals MarkNtel Advisors in their research report, "GCC Building & Construction Plastic Market Analysis, 2023."

Key Market Competitors

According to MarkNtel Advisors, the leading players in the GCC Building & Construction Plastic Market are BASF SE, 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.

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?

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, 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)