Saudi Arabia Plastic Market Size & Outlook, 2023-2030
Saudi Arabia plastic market, 2018-2030 (US$M)
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Saudi Arabia plastic market highlights
- The Saudi Arabia plastic market generated a revenue of USD 21,680.0 million in 2023 and is expected to reach USD 29,771.5 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 4.6% from 2024 to 2030.
- In terms of segment, packaging was the largest revenue generating end use in 2023.
- Medical Devices is the most lucrative end use segment registering the fastest growth during the forecast period.
Plastic market data book summary
| Market revenue in 2023 | USD 21,680.0 million |
| Market revenue in 2030 | USD 29,771.5 million |
| Growth rate | 4.6% (CAGR from 2023 to 2030) |
| Largest segment | Packaging |
| Fastest growing segment | Medical Devices |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Packaging, Construction, Electricals & Electronics, Automotive, Medical Devices, Agriculture, Furniture & Bedding, Consumer Goods, Utility |
| Key market players worldwide | Basf SE, SABIC, Dow Inc, DuPont de Nemours Inc, Evonik Industries AG, Sumitomo Chemical Co Ltd, Arkema SA, Celanese Corp Class A, Eastman Chemical Co, Chevron Corp, Lotte Chemical, Exxon Mobil Corp, Formosa Plastics Group, Covestro AG, Toray Industries Inc, Mitsui & Co Ltd, Teijin Ltd, INEOS, LG Chem, Lanxess AG, CHIMEI, Huntsman Corp, LyondellBasell Industries NV Class A, Miller Waste Mills |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 3.4% of the global plastic market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia plastic market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 29,771.5 million by 2030.
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Plastic Market Scope
Plastic Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia plastic market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to plastic market will help companies and investors design strategic landscapes.
Packaging was the largest segment with a revenue share of 35.35% in 2023. Horizon Databook has segmented the Saudi Arabia plastic market based on packaging, construction, electricals & electronics, automotive, medical devices, agriculture, furniture & bedding, consumer goods, utility covering the revenue growth of each sub-segment from 2018 to 2030.
Saudi Arabia is focusing on downstream industries as well as the production & recycling of plastics. The country has introduced a series of initiatives to boost the growth of small and medium-sized enterprises (SMEs) involved in processing plastics.
The Saudi Arabian government has implemented various regulations and initiatives to reduce the use of plastic, particularly single-use plastics. For example, in 2019, the country banned the use of plastic bags in supermarkets and other stores. These regulations could lead to a decrease in demand for plastics in applications such as construction, automotive, electrical & electronics, and consumer goods.
Moreover, The COVID-19 pandemic has had a significant impact on the global economy, including the plastics industry. Disruptions to supply chains, changes in consumer behavior, negatively impacting the demand for plastics in the aforementioned applications in the country in the coming years.
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Target buyers of Saudi Arabia plastic market databook
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Our clientele includes a mix of plastic market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia plastic market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia plastic market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia plastic market size, by end use, 2018-2030 (US$M)
Saudi Arabia Plastic Market Outlook Share, 2023 & 2030 (US$M)
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