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Saudi Arabia Plastic Products Market

Saudi Arabia Plastic Products Market

Saudi Arabia Plastic Products Market, By Product (Bottles & Containers, Bags & Pouches, Packaging Materials, Pipes & Fittings, Films & Sheets, Foam Products); By Technology (Injection Molding, Extrusion Molding, Blow Molding); By End User (Automotive & Transportation, Electrical & Electronics, Medical, Construction), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: February 2024
  • Report ID: BWC24099
  • Available Format: PDF
  • Page: 200

Report Overview

Rapid industrialization, growing population, an increasing demand for plastic products in construction and packaging sectors, and government initiatives promoting the plastic industry are key driving factors propelling the growth of the Saudi Arabia Plastic Products Market during the forecast period between 2024 and 2030.

Saudi Arabia Plastic Products Market – Industry Trends & Forecast Report, 2030

Saudi Arabia Plastic Products Market size was estimated at USD 8.56 billion in 2023. During the forecast period between 2024 and 2029, the size of Saudi Arabia Plastic Products Market is projected to grow at a CAGR of 2.74% reaching a value of USD 10.34 billion by 2030. The driving factors of the Saudi Arabia Plastic Products Market include changing trends in various industries like food and beverages, consumer goods, automotive, electrical, and electronics. The increased demand for food packaging, driven by the need to minimize degradation and contamination, is a significant factor. Plastics' ability to act as a barrier and provide durability is crucial, expanding its application in sports, fashion, polymer clay, toy manufacturing, and the textile industry. The versatility of plastics, allowing for molding into various shapes and sizes, contributes to its widespread use. Additionally, its hardness makes it suitable for packaging automotive and electrical spare parts, leading to overall market growth.

Saudi Arabia Plastic Products Market

Plastic Products – Overview

Plastic products encompass a diverse range of items created from synthetic polymers, revolutionizing industries and daily life. Commonly derived from petrochemicals, plastics are versatile, durable, and lightweight, making them integral in packaging, construction, electronics, and consumer goods. Their widespread use, however, has raised environmental concerns due to persistent pollution. Efforts to mitigate the impact include recycling initiatives, biodegradable alternatives, and sustainable production methods. Balancing convenience with ecological responsibility remains a challenge, prompting ongoing innovation and global discourse on reducing plastic consumption and promoting a more sustainable future.

Saudi Arabia Plastic Products Market

Growth Drivers

Growing Popularity of Biodegradable Plastics

A continuous surge in the demand for biodegradable plastics fuels growth of the Saudi Arabia Plastic Products Market. The introduction of new regulations mandating the use of approved oxo-biodegradable materials in plastic products in Saudi Arabia presents a favorable growth trajectory for the market. The increasing preference for eco-friendly biodegradable plastics, driven by both businesses and consumers seeking compliant alternatives, is expected to drive market expansion. The transition has far-reaching effects across various plastic product categories, fostering innovation and the adoption of advanced solutions. By seizing the opportunity, major players in the Saudi Arabia plastic products industry can align with sustainability objectives, drive economic advancement, and contribute to a more environmentally conscious future.

Innovative Engineering Plastics and Polymer Solutions

Saudi Arabia Plastic Products Market is thriving, driven by the surging demand for engineering plastics. These materials boast enhanced strength, durability, and lighter weight, making them preferable in various applications such as componentry, machinery, and construction. Additionally, the market records growth due to the rising need for advanced polymer solutions, particularly in sectors like automotive engineering, construction, solar energy, and water management. Multinational OEMs are increasingly adopting engineered plastic materials, exemplified by Volkswagen's 40% weight reduction with polymer crankshaft covers. The shift signals a broader trend of innovations and adaptation to meet evolving market demands.

Challenges

Environmental Imperatives and Regulatory Measures

In response to mounting environmental apprehensions surrounding polymers, the Saudi Arabia Plastic Products Market faces restrictions due to stringent government regulations and evolving policies. A concerted effort by manufacturers and governments to embrace eco-friendly, non-plastic alternatives aimed at mitigating environmental pollution poses challenges for market expansion. The shift toward non-polymer products and the adoption of practices discouraging plastic usage serve as significant constraints on the market's growth trajectory.

Impact of COVID-19 on Saudi Arabia Plastic Products Market

The COVID-19 pandemic has significantly altered the landscape of the plastic products market in Saudi Arabia, with pronounced effects on various sectors. Notably, the demand for plastic in the building and construction industries, as well as the automotive sector, has witnessed a substantial decrease. The decline can be attributed to a reduction in manufacturing activities within these industries due to global lockdown restrictions and the overall economic slowdown. Additionally, the market has been impacted by the significant drop in crude oil prices, a consequence of reduced demand and storage capacity constraints, hindering overall market growth.

Conversely, the medical industry has experienced an increased demand for plastic products, particularly in the form of personal protective equipment (PPE), such as face masks, shields, goggles, respirators, gloves, gowns, and coveralls. This surge in demand for medical-grade plastics has played a pivotal role in sustaining and propelling the plastic products market forward.

Saudi Arabia Plastic Products Market

Segmental Coverage

Saudi Arabia Plastic Products Market – By Product

Based on product, Saudi Arabia Plastic Products Market is divided into Bottles & Containers, Bags & Pouches, Packaging Materials, Pipes & Fittings, Films & Sheets, and Foam Products segments. The bottles & containers segment is the largest in the Saudi Arabia Plastic Products Market by product. The segment encompasses a wide range of plastic packaging solutions, including bottles for beverages and containers for various products. The demand for packaging materials in Saudi Arabia is driven by diverse industries, such as food and beverages, healthcare, and consumer goods. The bottles & containers segment dominates due to its crucial role in product storage, transportation, and preservation, reflecting the nation's growing reliance on plastic packaging across different sectors.

Saudi Arabia Plastic Products Market Size

Saudi Arabia Plastic Products Market – By Technology

By technology, Saudi Arabia Plastic Products Market is divided into Injection Molding, Extrusion Molding, and Blow Molding segments. The injection molding segment emerges as the largest, holding a substantial share of the market. The method of manufacturing plastic products by injecting molten material into a mold is pivotal in shaping the industry landscape. Its prominence underscores the significant role played by injection molding in driving the overall growth and development of the plastic products market in Saudi Arabia.

Saudi Arabia Plastic Products Market – By End User

By end user, Saudi Arabia Plastic Products Market is divided into Automotive & Transportation, Electrical & Electronics, Medical, and Construction segments. The automotive & transportation segment dominates the market, followed by electrical & electronics, medical, and construction sectors. The automotive and transportation industry holds the largest share, reflecting the significant demand for plastic products in the sector. The prominence is attributed to the versatile applications of plastics in manufacturing components for vehicles, thereby driving the overall market growth.

 Saudi Arabia Plastic Products Market Share

Competitive Landscape

Major players in the Saudi Arabia Plastic Products Market include Tamam Plastics, Saint-Gobain, Sonoco Products Company, Sealed Air Corporation, Saudi Plastic Products Company Ltd, Arabian Plastic Industrial Company Limited, Taldeen Plastic Solutions Ltd, Rowad National Plastic Company, Zamil Plastic Industries Ltd, and Gulfmaid. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

  • In June 2023 - Berry Global, a leading packaging manufacturer, unveiled its latest spray-through overlap made using 50% recycled content to support customers in achieving their sustainability goals with recycled content.

Scope of Report

Attributes

Details

Years Considered

Historical Data – 2019–2023

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

Revenue in USD Billion

Market Coverage

Saudi Arabia

Product/Service Segmentation

Product, Technology, End User

Key Players

Tamam Plastics, Saint-Gobain, Sonoco Products Company, Sealed Air Corporation, Saudi Plastic Products Company Ltd., Arabian Plastic Industrial Company Limited, Taldeen Plastic Solutions Ltd, Rowad National Plastic Company, Zamil Plastic Industries Ltd, Gulfmaid

 

By Product

  • Bottles & Containers

  • Bags & Pouches

  • Packaging Materials

  • Pipes & Fittings

  • Films & Sheets

  • Foam Products

By Technology

  • Injection Molding

  • Extrusion Molding

  • Blow Molding

By End User

  • Automotive & Transportation

  • Electrical & Electronics

  • Medical

  • Construction

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. South Arabia Plastic Products Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Growing food and beverages industry
        2. Growth and expansion of e-commerce sector
      2. Restraints
        1. Increasing environmental concerns
        2. Fluctuations in raw material prices
      3. Opportunities
        1. Growing demand from diverse sectors
        2. Increasing sustainable packaging solutions
      4. Challenges
        1. Limited domestic recycling infrastructure
    3. Product Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. South Arabia Plastic Products Market Overview
    1. Market Technology & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product
        1. Bottles & Containers
        2. Bags & Pouches
        3. Packaging Materials
        4. Pipes & Fittings
        5. Films & Sheets
        6. Foam Products
        7. Others
      2. By Technology
        1. Injection Molding
        2. Extrusion Molding
        3. Blow Molding
        4. Others
      3. By End User
        1. Automotive & Transportation
        2. Electrical & Electronics
        3. Medical
        4. Construction
        5. Others
  5. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. South Arabia Plastic Products Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  6. Impact of Covid-19 on South Arabia Plastic Products Market
  7. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Tamam Plastics
    2. Saint-Gobain
    3. Sonoco Products Company
    4. Sealed Air Corporation
    5. Saudi Plastic Products Company Ltd.
    6. Arabian Plastic Industrial Company Limited
    7. Taldeen Plastic Solutions Ltd
    8. Rowad National Plastic Company
    9. Zamil Plastic Industries Ltd
    10. Gulfmaid
    11. Other Prominent Players
  8. Key Strategic Recommendations
  9. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

 

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

 

List of Figures

 

Figure 1       South Arabia Plastic Products Segmentation 

Figure 2       South Arabia Plastic Products Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2023

Figure 4       South Arabia Plastic Products Market, By Value (USD Billion), 2019–2030     

Figure 5       South Arabia Plastic Products Market Share, By Product, By Value, 2019–2030         

Figure 6       South Arabia Plastic Products Market Share, By Technology, By Value, 2019–2030         

Figure 7       South Arabia Plastic Products Market Share, By End User, By Value, 2019–2030         

 

List of Tables

 

Table 1        South Arabia Plastic Products Market, By Value (USD Billion), 2019–2030     

Table 2        South Arabia Plastic Products Market Share, By Product, By Value, 2019–2030         

Table 3        South Arabia Plastic Products Market Share, By Technology, By Value, 2019–2030         

Table 4        South Arabia Plastic Products Market Share, By End User, By Value, 2019–2030         

Table 5        Tamam Plastics Company Overview

Table 6        Tamam Plastics Financial Overview

Table 7        Saint-Gobain Company Overview

Table 8        Saint-Gobain Financial Overview

Table 9        Sonoco Products Company Company Overview

Table 10      Sonoco Products Company Financial Overview

Table 11      Sealed Air Corporation Company Overview

Table 12      Sealed Air Corporation Financial Overview

Table 13      Saudi Plastic Products Company Ltd. Company Overview

Table 14      Saudi Plastic Products Company Ltd. Financial Overview

Table 15      Arabian Plastic Industrial Company Limited Company Overview

Table 16      Arabian Plastic Industrial Company Limited Financial Overview

Table 17      Taldeen Plastic Solutions Ltd Company Overview

Table 18      Taldeen Plastic Solutions Ltd Financial Overview

Table 19      Rowad National Plastic Company: Company Overview

Table 20      Rowad National Plastic Company Financial Overview

Table 21      Zamil Plastic Industries Ltd Company Overview

Table 22      Zamil Plastic Industries Ltd Financial Overview

Table 23      Gulfmaid Company Overview

Table 24      Gulfmaid Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: Saudi Arabia Plastic Products Market size was estimated at USD 8.56 billion in 2023.
Ans: Saudi Arabia Plastic Products Market size is expected to grow at a CAGR of 2.74% during the forecast period between 2024 and 2030.
Ans: Saudi Arabia Plastic Products Market size is expected to reach a market value of USD 10.34 billion by 2030.
Ans: Major factors driving the growth of the Saudi Arabia Plastic Products Market include increasing industrialization, population growth, rising demand in construction and packaging sectors, and government initiatives promoting the plastic industry.
Ans: Key players in the Saudi Arabia Plastic Products Market include Tamam Plastics, Saint-Gobain, Sonoco Products Company, Sealed Air Corporation, Saudi Plastic Products Company Ltd., Arabian Plastic Industrial Company Limited, Taldeen Plastic Solutions Ltd, Rowad National Plastic Company, Zamil Plastic Industries Ltd, and Gulfmaid.
Ans: The bottles & containers segment accounts for the highest market share in the Saudi Arabia Plastic Products Market by product.
Ans: The injection molding segment accounts for the highest market share in the Saudi Arabia Plastic Products Market by technology.
Ans: The automotive & transportation segment accounts for the highest market share in the Saudi Arabia Plastic Products Market.
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