Middle-East and Africa Thermoplastics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Middle-East and Africa Thermoplastics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market for Middle-East & Africa thermoplastics is expected to grow at a CAGR of arpund 5% during the forecast period. Growing demand from various key end-user industries is expected to drive the market growth through the forecast period.

Key Highlights

• Impact of COVID-19 pandemic is expected to hinder the growth of the market.
• Saudi Arabia dominated the Middle-East and Africa thermoplastics market.

Key Market TrendsPackaging Industry to Dominate the Market

• Packaging accounts for the largest application segment in the Middle Eastern market. The prime reasons for the growing application of engineering plastics, in the packaging segment, are better wear and chemical resistance, ease of molding, recyclability, puncture resistance, and high mechanical strength.
• Some of the major applications of engineering plastics, in the packaging segment, are as follows: packaging of bottled water, flexible packaging, such as sausage skin, flexible foils, such as shopping bag.
• Polyethylene terephthalate (PET) is one of the plastics majorly used for packaging purposes, mostly in the food and beverage industry. Portability, design flexibility, ease of cleaning, light weight, and protection against moisture, are a few properties of PET, which makes it suitable for packaging purposes. In addition, low handling hazards, low toxicity, and absence of bisphenol A (BPA) and heavy metals are some of the other factors that allow PET to be used for food packaging.
• PETs are used for making clamshells, bakery and take-out containers, microwaveable food trays, carbonated soft drink bottles, and other packages. Other applications include packaging materials for cooking oils, shampoo, hand wash, and more products.
• Polyamide is another major engineering plastic that finds major application in the packaging sector. Bi-axially oriented and non-oriented polyamide films are used in medical and food packaging, owing to the former’s high impact strength and good heat resistance.
• Increasing household and commercial applications for containers, plastic bags, canisters, and tableware, among others, are expected to drive the consumption demand for plastics in the packaging sector, during the forecast period.
• The usage of plastics for packaging products is expected to experience a fairly steady demand, during the forecast period. Requirements for rubber gloves in the healthcare sector, stretch films, garbage bags, and other medical devices, are anticipated to witness greater demand, in the coming years.

Saudi Arabia to Dominate the Middle-East and African Market

• The market openness and investment opportunities in Saudi Arabia are less when compared to other emerging economies. However, the government, in its 10th development plan, is reforming economic policies, with investments in diversified sectors, and is trying to attract private investments in the country, to make it a diversified economy that is not dependent on oil.
• Saudi Arabia is focusing on establishing itself as the new automotive hub in the Middle East. Though the country is a large importer of vehicles and auto parts, it is now trying to attract original equipment manufacturers (OEMs) to open their production plants in the country, to develop the domestic auto industry.
• Though the electronics market in Saudi Arabia slowed down in the recent past, it has good market potential with the rising population and demand for electronic goods, such as smartphones, LED and LCD TVs, tablets, electrical machines and equipment, and washing machines.
• Government and private investments in different sectors in the country are expected to lead the increase in industrial and commercial building and construction activity. The country’s primary growth in construction has been largely powered by the massive investments done by the government and increased inflow of FDI.
• Such growth in various industries is expected to drive the market for thermoplastics in Middle Eastern region during the forecast period.

Competitive Landscape

The Middle-East and Africa thermoplastics market is consolidated with the top five players accounting for major share of the market. The prominent players in the market include SABIC, LyondellBasell Industries Holdings B.V. (incl. A. Schulman Inc.), Solvay, LANXESS, and Evonik Industries AG, among others.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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