Skip to main content

Demand across Construction and Packaging Industries to Help GCC Molded Plastics Market Achieve Massive Growth, states TMR

The market for molded plastics across the GCC countries is highly fragmented, with the top ten vendors accounting for a cumulative share of nearly 40% in 2014. Geographic distribution-wise, the market is highly consolidated, with over 60% plastic converters in the market located in Saudi Arabia and nearly 15% in the UAE. The market is thus highly competitive in certain regional packets and is extremely difficult to penetrate. However, as most large vendors have production capacities within the range of only 10 to 50 kilo tons and are confined to specific regional pockets, there’s plenty of scope for growth for new vendors.


Though domestic demand will be a key enabler of growth for molded plastic vendors in GCC countries in the next few years, the market will see an increased trend of expansion through ventures in export markets owing to better bottom-line growth prospects and higher profit margins. In a recent market research report, TMR states that companies in the GCC molded plastic market will put increased focus on product portfolio expansion, investments aimed at technological advancements in production capabilities, and consolidations in foreign lands.






Rising Consumption of Molded Plastics in Construction and Packaging Sectors to be Key Determinant of Growth

The rising demand for molded plastics across the construction and packaging sectors are considered to be the key enabler of growth of the GCC molded plastics market. Rise in trade activities and increased consumption of industrial and consumer goods in GCC countries have bolstered the packaging industry in the region. This has, in turn, proved to be highly beneficial for the molded plastics market in the region.

Government initiatives towards the development of the construction industry, with an aim of supporting the rising population in GCC countries, have also presented significant growth opportunities for the molded plastics market in the region. However, the market for molded plastics in the region has suffered a massive blow from the recent economic downturn in Europe as Europe is the key exporter of molded plastics produced in GCC countries. Over the next few years as well, the GCC molded plastics market will suffer the negative impact of unpredictable demand in Europe.

Browse The Full Article Here: 

Bahrain to Present Sluggish Growth Opportunities

The GCC molded plastics market is expected to gain the most lucrative returns in countries such as Saudi Arabia, Oman, and Qatar. Saudi Arabia, being the production hub of the GCC molded plastics market, will be the leading market for molded plastics. Oman and Qatar will lead to increased demand for molded plastics on account of the favorable growth of the construction and packaging industries.

However, the market will witness sluggish growth in Bahrain owing to low market penetration and slow economic growth. One of the other important reasons making the Bahrain market grim in terms of growth prospects the fact that most raw materials need to be imported, adding to the cost of the final product and reducing market’s attractiveness.

The GCC molded plastics 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.

For the purpose of this study, the market has been segmented as follows:

GCC Molded Plastics Market – Product Segment Analysis
  • Pipes & conduits
  • Bottles & containers
  • Cables & wires
  • Others (Including medical devices, automotive components, miscellaneous consumer goods, etc.)
GCC Molded Plastics Market – Application Analysis
  • Packaging
  • Consumable & Electronics
  • Automotive & Transportation
  • Building & Construction
  • Others (Including toys, furniture, etc.)
This review of the market is based on a recent market research report published by Transparency Market Research, titled “Molded Plastics Market - GCC Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”

Labels:
Location: Albany, NY, USA

Comments

Post a Comment

Popular posts from this blog

Superabrasives (Turning, Cutting, Buffing, Drilling, Boring, Grinding) Market Research Report 2025

An abrasive is a material which molds or provides finishing to a work piece through a process which includes buffing, grinding, cutting, as well as polishing. Abrasion typically depends on the difference in the hardness of the material and the abrasive (with the latter being the harder of the two). Unlike regular abrasion where any two solid materials that repeatedly rub against each other tend to wear away, superabrasives possess the kind of hardness that enables them to stay usable for a longer period of time. On the basis of hardness, the top two superabrasives include diamond and cubic boron nitride (CBN). Industrial diamonds used as superabrasives are exceptionally hard materials. However, they display several technological limitations. For instance, when a diamond comes in contact with a ferrous alloy such as steel or a nickel superalloy, the resulting formation of carbide leads to its abrasion. Also, a diamond-containing tool can only be used at moderate temperatures a
Post a Comment
Read more

Rapid Prototyping Market - Rapidly Gaining Importance in Aerospace Sector, Research By 2024

Rapid prototyping is a technique in which the physical modeling of a design is done with the help of specialized machining technology. It was developed initially in the mid-1980s, the principle used in this technology is of solid modeling with the help of computer programs (i.e. CAD). Solid modeling makes use of computer aided-design (CAD) data to completely describe not just the external shape of parts or equipment, but its interior volume as well as the outside surfaces. The computer model is sliced into thin layers and the part of the product or commodity to be modelled or developed as per the requirement, is eventually fabricated by adding layers onto each other. Obtain Report Details @   http://www.transparencymarketresearch.com/rapid-prototyping-market.html The primary benefit of the system is that almost any shape can be manufactured using computerized programs. Time and money savings vary from 50% to 90% compared to conventional systems. Types of rapid prototypi
Post a Comment
Read more

Welding Products Market Growth in Wind Power Sector to Create Opportunities, TMR

The global welding products market is moderately fragmented with the key players such as Lincoln Electric, ESAB, and ITW leading in the market. These three players accounted for a collective share of 30% in 2013, states a new report by Transparency Market Research (TMR). This market is capital intensive and thus, local vendors find it difficult to compete with the larger players. Local players are unable to compete with large players on the basis of quality, services, functionalities, and features. Thus, these small players are entering into the market by introducing products that are low in price. Some of the players operating in the welding products market are: Voestalpine AG, Sonics & Materials Inc., Fronius International GmbH, Rofin-Sinar Technologies Inc., Arcon Welding, Bohler, Panasonic, Daihen Corp, and OBARA Co. In order to increase their production capacities and focus on innovations, companies are adopting the strategy of merging or acquiring other players. Acco
Post a Comment
Read more