Investing in a plastic electrical conduit factory in Yemen represents a promising investment opportunity in 2022, particularly in light of Yemen’s Vision 2030, which aims to advance the national economy, enhance the foundations of economic stability, and strive to occupy a prominent position among global economies.
What is a plastic electrical pipe factory?
The plastic electrical pipe factory produces and manufactures plastic electrical pipes of different diameters. The project targets the construction sector, contracting and building companies, and commercial establishments. This project is a good opportunity to provide employment opportunities, improve the economic and social standard of the workforce, and meet part of the demand for plastic electrical pipes.
According to Allied Market Research, the global plastic electrical conduits market is Its value in 2018 was about $16.25 billion and the market value is expected to reach $25.68 billion by 2026. Thus, the market has achieved a compound annual growth rate of 5.7% during the period between (2019: 2026 AD).
Your Project Consulting Company confirms, This project will be among the most successful investments in Yemen, due to the following:
In 2015, Yemen imported approximately $208 million worth of plastics and related products. Yemen’s imports of these products increased in 2021 to $591.6 billion, with the market achieving an average annual growth rate of 22% between 2015 and 2021.
_ In 2026 AD, Yemen’s imports of plastics and related products are expected to reach US$973.8 million.
