GCC Building & Construction Plastic Market Research Report: Forecast (2023-2028)

Market Definition

The building & construction plastic refers to the plastics used in building and construction applications. They are widely used in various applications in the construction industry, such as pipes and fittings, insulation materials, roofing, flooring, and wall coverings.

Market Insights & Analysis: GCC Building & Construction Plastic Market

The GCC Building & Construction Plastic Market is projected to grow at a CAGR of around 10.3% during the forecast period. i.e., 2023-28. The market for building and construction plastics in the GCC region is primarily driven by the growing construction industry, as the region has been experiencing significant infrastructure development in recent years. Furthermore, the growing need to replace or renovate weak structures, coupled with massive investments in the public & private sectors, raising the number of building & construction projects across the GCC region, accelerating the market growth

Since plastics used in building & construction activities provide durability, strength, weather resistance, and overall weight reduction to structures, they are gaining popularity among architects & builders widely. The market for building and construction plastics in the GCC region is expected to grow at a steady pace in the coming years, driven by the increasing demand for lightweight, cost-effective, and durable building materials.

Market Dynamics

Significant Driver: Rising Construction Activities in the Region Has Boosted the Market Growth

The prime factors expected to drive the GCC Building & Construction Plastic Market include the rising demand for lightweight & low-cost construction plastic materials than other substitutes. In addition, minimal maintenance and utmost strength & durability shall further increase the popularity & adoption of plastics by multiple architects, builders, and designers. Besides, the growing demand for plastic for decorations, fire resistance, and cost-effectiveness shall further augment the market growth in the years to come.

Challenge: Environmental Concerns Related to Plastic Would Create a Challenge for the Market

The factors that might restrain the market growth are the rising concerns over the use of plastic waste, coupled with stringent environmental regulations laid across GCC. Since plastics are a threat to both terrestrial & aquatic environments, the norms imposed by the governments of GCC countries to resist the use of plastic might hinder the market growth during the forecast period. Besides, the availability of substitutes like fiberglass and wood might also challenge the demand for plastics used in building & construction activities.

Market Segmentation

Based on Type:

• Expanded Polystyrene
• Polyethylene
• Polypropylene
• Polyvinyl Chloride (PVC)
• Others (Polyurethane, Thermoplastics, etc.,)

Based on Type, Polyvinyl chloride (PVC) is expected to dominate the GCC building and construction plastic market in the coming years. PVC is one of the most widely used plastics in the construction industry, owing to its properties such as durability, chemical resistance, and versatility in various applications. PVC is commonly used in applications such as pipes and fittings, windows and doors, roofing, flooring, and wall coverings. It is also known for its cost-effectiveness and ease of installation, which makes it a popular choice among contractors and builders. Moreover, the growth in the construction industry in the GCC region is expected to further drive the demand for PVC in the coming years. The rising population, urbanization, and increasing infrastructure development in the region are expected to increase the demand for building materials, including PVC, thus contributing in enhancing the GCC Building & Construction Plastic Market size.

Country Landscape

Geographically, the GCC Building & Construction Plastic Market expands across:

• Saudi Arabia
• The UAE
• Qatar
• Bahrain
• Kuwait
• Oman

Of them all, Saudi Arabia accounts for the largest share of the GCC Building & Construction Plastic Market. It principally owes to the massive investments by the country in its healthcare industry, which propels the demand for top-notch infrastructure, hospital bed capacity, and long-term care centres, thereby proposing several construction projects. Hence, it directly impacts the GCC Building and Construction Plastic Market, owing to the increasing demand for cost-effective, durable, and low-maintenance plastics.

In addition, privatization of hospitals and growing expenditure in healthcare shall also drive the demand for several engineering plastics and lead the country to rule the market with the largest share in the forecast period. Moreover, the burgeoning focus on the tourism sector is leading to significant investments by the country toward constructing hotels, recreational facilities, and other public infrastructure to cater to the tourists. Furthermore, the launch of initiatives like Saudi Arabia Vision 30 shall also surge building & construction activities, thereby fuelling the demand for plastics within the country.