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...

The top 10 players in the  global molded plastics market  represented only 40% of its value in 2015, pointing towards the highly fragmented nature of the market. BASF SE, Chevron Philips Chemical Company LLC, LyondellBasell Industries N.V., Eastman Chemical Company, and SABIC are among the top 10 companies in the market. Transparency Market Research (TMR) observes that the high technical acumen and strong brand equity of these players are creating a high entry barrier for new players to penetrate in the market.  The majority of the leading players are aiming at expanding their market shares by product innovation, competitive pricing, and enhancing geographical outreach. “Collaborations between small and multinational players are paving way for molded plastics that comply with world-class quality requirements,” says TMR’s lead analyst. The global market for molded plastics had a valuation of US$124.8 bn in 2015 and is anticipated to rise to US$202.2 bn by 2024, progr...