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Molded Plastics Market will reach US$ 14.22 Mn by 2023

by omkartmr · January 18, 2019


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 Nike Air Max 90 Ultra Essential Vypredaj , 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.


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As per the projections of the TMR report Nike Air Max 90 Ultra BR Vypredaj , 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 are a vast number of suppliers of molded plastics in GCC, there also are plenty of untapped growth opportunities, and expansion strategies as well as improved product portfolio will help the companies to strengthen their stronghold over the competition.


Packaging and Construction Industries Driving Demand


Based on application Nike Air Max 90 Leather Vypredaj , the GCC molded plastics has been segmented into building and construction, automotive and transportation, packaging, consumable and electronics, and others such as furniture and toys. Among these Nike Air Max 90 Essential Vypredaj , the packaging industry accounted for the maximum demand at 52% in 2014, and is expected to remain most profitable, reaching a share of 56% of the overall demand by the end of 2023. The prosperity of the packaging industry in Gulf Cooperation Council is a reflection of consistently improving trade activities and the growth of the industrial as well as consumer goods sectors.


The products packaged with molded plastics undergo several development phases in order to comply with regulatory guidelines and the requirement of the end users. Enhanced performance against wear and tear, increased shelf life of food products, improved durability are some of the requirements that plastics need to meet for packaging applications. The population of this region has escalated quickly in the past decade Nike Air Max 90 Glow Vypredaj , which has helped in creating manifold growth opportunities for molded plastic packaging market.


The building and construction is flourishing in GCC as well, wherein molded plastic are used to manufacture rain water & sewage pipes, electrical conduits, windows & doors, gas distributions pipes Nike Air Max 90 Damske Vypredaj , plumbing, tanks, flooring tiles & rolls, and others. Th. Wholesale Nike Shoes China Wholesale Air Jordan China Cheap Nike Shoes Cheap Air Jordan Cheap Nike Shoes Online Cheap Nike Shoes China Cheap Air Max 270 Flyknit Cheap Air Max 97 Online Cheap Nike Air Max 90 Infrared Wholesale Air Max Discount