Global Saudi Arabia Plastic Components Market Trends, Share, Size and Forecast 2022-2031

Japan, Japan, Fri, Apr 08 2022 08:20:24 / Comserve Inc. / – Saudi Arabia Plastic Components Market with Top Country Data, Industry Analysis, Size, Share, revenue, significant players, developing technologies, trends and forecasts

The plastic components market in Saudi Arabia is expected to grow at a CAGR of over 3.5% globally during the forecast period. Increase in government spending in construction activities has been driving the growth of the market.

– However, the downturn in the automotive industry and the outbreak of COVID-19 across the globe are likely to hamper the growth of the market studied.
– Rising awareness of electric vehicles is expected to drive the market demand over the forecast period and is expected to provide opportunities for the plastic components market in Saudi Arabia over the next five years.
– The sheet, film and plate segment is the most dominant product segment in the market studied.
– Building and construction is the most dominant end-user industry in the market studied.

Get sample PDF for more detailed market information: https://www.sdki.jp/sample-request-87455

Main market trends

Sheets, films and plates to dominate the market

– Plastic films and sheets are lightweight, economical and have many safety benefits and important properties, such as chemical resistance, and are available in a wide variety of colors and thicknesses. The product has applications in industries including food and beverage, pharmaceutical, electronics, medical, construction, home improvement, decoration, repair, and the aerospace industry.
– Surface protection film helps protect surfaces against dust, dirt, fingerprints, scratches, contamination and abrasion which are common in various industries like aerospace, automotive, electronics and construction during production, shipping and storage.
– According to GCC Plastics Industry Indicators, Saudi Arabia accounted for more than two-thirds of GCC polymer resin production.
– Government programs such as Vision 2030 aimed at emphasizing developing sectors such as healthcare, defence, transport and logistics will increase investment in the construction of hospitals, factories and other infrastructure, which will further propel the demand for sheets and films during the forecast period.
– The above-mentioned factors are expected to drive the demand for Saudi plastic components over the forecast period.

Building and construction to dominate the market

– The country’s Vision 2030 plan to reduce its dependence on oil, diversify its economy and develop public service sectors is expected to boost investment in the construction sector. The country is seeking $425 billion by 2030 for infrastructure, energy, mining and other industrial projects, as part of an effort to reduce its dependence on oil.
– In addition, Saudi Arabia is supporting its 2030 goals by allocating an expenditure budget of SAR 1.1 trillion in 2019, of which SAR 246 billion is allocated to Capex to support its infrastructure projects.
– Plastics used in the building and construction industry are polyvinyl chloride (PVC), polystyrene, formaldehyde, phenol-formaldehyde, polyethylene, polypropylene, nylon, polyurethane, acrylic resins and phenolics and melamine.
– Under the National Transformation Program (NTP) 2020 and Saudi Arabia’s Vision 2030, the government has a plan to develop seaports, railway lines, airports and manufacturing facilities. Under NTP 2020, the government plans to invest around $72 billion to develop the country’s transport and tourism infrastructure.
– Hence, all these market trends are expected to drive the demand for the plastic components market in Saudi Arabia during the forecast period.
– However, the global outbreak of the novel coronavirus pandemic (COVID-19) has impacted the growth of the construction industry and is expected to slow down the growth of the market studied.

Get the scoop with the sample report – https://www.sdki.jp/sample-request-87455

Competitive landscape

The plastic components market in Saudi Arabia is partially fragmented. Some of the major companies are Arabian Plastics Industrial Company Limited, Zamil Plastic, Rowad National Plastic Company Ltd, Tamam Plastic Factory and Takween Advanced Industries among others.

1. INTRODUCTION
1.1 Assumptions of the study
1.2 Scope of the study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increased public spending on construction activities
4.1.2 Other Drivers
4.2 Constraints
4.2.1 Slow Growth of Automotive Industry
4.2.2 Adverse conditions resulting from the COVID-19 outbreak
4.3 Industry Value Chain Analysis
4.4 Porter’s Five Forces Analysis
4.4.1 Threat of new entrants
4.4.2 Bargaining power of buyers
4.4.3 Bargaining power of suppliers
4.4.4 Threat of Substitute Products
4.4.5 Degree of competition
4.5 PILON analysis

5 MARKET SEGMENTATION

Ask for it and browse the full report- Plastic components market in Saudi Arabia

The dynamic nature of the business environment in today’s global economy increases the need among business professionals to update themselves with current market situations. To meet these needs, Shibuya Data Count provides market research reports to various professionals in different verticals, such as healthcare and pharmaceuticals, IT and telecommunications, chemicals and advanced materials, goods consumption and food, energy and electricity, manufacturing and construction, industry. automation and equipment and agriculture and related activities, among others.

For more information please contact:

Hina Miyazu

Shibuya Data Count
Email: [email protected]
Tel: + 81 3 45720790

The publication Global Saudi Arabia Plastic Components Market Industry Trends, Share, Size and Forecast 2022-2031 appeared first on Comserveonline.

About the author