Investing in a plastic household appliances factory in Yemen represents a promising investment opportunity in 2022, particularly in light of Yemen’s Vision 2030, which aims to enhance the stability of the national economy, increase the country’s exports, and raise per capita GDP by accelerating industrialization and encouraging public-private partnerships.
What is a plastic houseware factory?
The plastics industry includes several stages, such as molding, casting, foaming, and thermoforming. The plastic household items industry represents one of the most promising industries with an attractive investment environment in the coming period in the Gulf countries. The industry includes plastic household items such as plates, cups, forks, spoons, and baskets. The plastic household items factory relies on the polymer manufacturing stage, followed by the final product formation stage, according to the latest manufacturing technologies and international quality standards.
In 2020, the global plastics market was valued at $579.7 billion. By the end of 2021, this value had risen to $593 billion. This market is expected to expand at a compound annual growth rate (CAGR) of 3.4% over the coming years, reaching a market value and revenue of $750.1 billion by 2028.
According to statistics from the International Trade Center, Yemen imported approximately $532 million worth of plastics in 2020, and this figure is expected to increase to $908 million by 2024.
Based on its analysis of the Yemeni industrial sector and plastic products market, Mashroo3k Consulting confirms that a plastic household appliances factory project in Yemen represents a promising investment opportunity.
For more details on the latest economic indicators and investment opportunities in Yemen, as well as the most prominent funding agencies supporting successful investment projects in the country, you can contact the investor services team at Mashroo3k Consulting.
