The Global and GCC Plastics Market
In 2020, the global plastics market was valued at approximately $579.7 billion. This market is expected to grow to $750.1 billion by 2028, at a compound annual growth rate (CAGR) of 3.4%.
In the GCC region, the plastics industry has experienced significant growth, driven by government efforts to diversify economies and reduce reliance on oil and gas as the primary sources of revenue.
Additionally, rising demand for plastic products in industries such as automotive, packaging, construction, and water piping has contributed to the expansion of this vital sector. A report from the Gulf Petrochemicals and Chemicals Association (GPCA) highlights that plastics represent the second-largest industrial sector in the GCC, with products valued at $108 billion.
For those looking for insights into Saudi Arabia’s plastics industry, Mashro3ak provides the latest key statistics to guide potential investors:
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Saudi Arabia accounts for approximately 72% of total plastic production in the GCC, while the GCC region as a whole represents 9% of the global plastics industry.
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Saudi Arabia ranks eighth globally in plastic production, holding 2% of the world’s total polymer production.
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By the end of Q2 2021, the number of rubber and plastic factories in Saudi Arabia exceeded 222, accounting for 11.9% of all active factories in the country.
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According to the Standard International Trade Classification (SITC):
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Saudi exports of “plastics in primary forms” were valued at SAR 67,824,000,000, with a total weight of 16,978 tons.
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Exports of “plastics in non-primary forms” reached SAR 2,403,000,000, with a total weight of 384 tons.
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