Market Research Reports

According to the findings of a recent report by Transparency Market Research (TMR), the molded plastics market in Gulf Cooperation Council (GCC) is highly fragmented, with ten leading companies accounting for merely 40% shares of the global pie in 2014. On the other hand, on the basis of geographical distribution, the GCC molded plastics market is consolidated, with Saudi Arabia accounting for 60% of the plastic converters while 15% belonged to the UAE. As for the new entrants, the report detects that since most of the prominent vendors have relatively smaller production capacity ranging from 10 to 50 kilo tons, higher production capability aimed at specific regional pockets will pave the way. As per the projections of the TMR report, the GCC molded plastics market will increment at a strong CAGR of 8.3% during the forecast period of 2015 to 2023, reaching a valuation of US$14.22 bn by the end of 2023, considerably up from its evaluated worth of US$7.19 bn in 2014. Though there...

In a highly fragmented global molded plastics market, in 2015, the top 10 companies held only 40% of the overall market. Some of these are companies are Chevron Philips Chemical Company LLC, Eastman Chemical Company, SABIC, BASF SE, and LyondellBasell Industries N.V. Top companies in this market have established high brand equity due to a long presence in this market, notes a study by Transparency Market Research. This factor, along with the technical expertise of key companies makes it difficult for new and small companies to compete with them.  “Focus on renewable raw materials to manufacture plastics for packaging industries is one of the key strategies that key players in this market have adopted, says the author of this study. Strengthening global presence by targeting emerging markets with high growth potential has also been adopted to accelerate growth. A case in point is BASF SE. In October 2015, the company established an engineered plastics compounding unit in Sou...