Middle East & Africa Plastic Resin Market Size & Outlook
Middle East & Africa plastic resin market, 2018-2030 (US$M)
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MEA plastic resin market highlights
- The MEA plastic resin market generated a revenue of USD 11,958.5 million in 2023.
- The market is expected to grow at a CAGR of 21.7% from 2024 to 2030.
- In terms of segment, polystyrene foam was the largest revenue generating type in 2023.
- Melamine Foam is the most lucrative type segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 11,958.5 million |
| Market revenue in 2030 | USD 47,278.2 million |
| Growth rate | 21.7% (CAGR from 2023 to 2030) |
| Largest segment | Polystyrene foam |
| Fastest growing segment | Melamine Foam |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Polyurethane Foam, Polystyrene Foam, PVC Foam, Phenolic Foam, Polyolefin Foam, Melamine Foam, Other Types |
| Key market players worldwide | Basf SE, SABIC, Dow Inc, DuPont de Nemours Inc, Evonik Industries AG, Sumitomo Chemical Co Ltd, Celanese Corp Class A, Eastman Chemical Co, Chevron Corp, Lotte Chemical, Exxon Mobil Corp, Formosa Plastics Group, Toray Industries Inc, Mitsui Chemicals Inc, Teijin Ltd, LG Chem, Avient Corp |
Other key industry trends
- In terms of revenue, MEA region accounted for 8.8% of the global plastic resin market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 236,918.3 million by 2030.
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Plastic Resin Market Scope
Plastic Resin Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa plastic resin 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 resin market will help companies and investors design strategic landscapes.
Polystyrene foam was the largest segment with a revenue share of 31.62% in 2023. Horizon Databook has segmented the Middle East & Africa plastic resin market based on polyurethane foam, polystyrene foam, pvc foam, phenolic foam, polyolefin foam, melamine foam, other types covering the revenue growth of each sub-segment from 2018 to 2030.
Plastic resins market in the region is expected to be driven by the growth of automotive, packaging, industrial machinery, and consumer goods applications. Growing automotive aftermarket coupled with the easy availability of raw materials such as plastic resins and additives is also likely to provide the necessary thrust for the growth of plastic resins market in the region.
The demand for plastic resins in the Middle East & Africa witnessed significant growth over the past few years with the development of packaging industry. This growth can be attributed to the beneficial properties of plastic packaging including rigidity, durability, and assistance in weight reduction.
Although the consumption of plastic resins observed significant rise in packaging industry, the region still registers concerns regarding the impact of the disposal of such plastic materials on the environment, which is projected to slow down the market growth by a minimal level.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa plastic resin market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa plastic resin market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa Plastic Resin Market Outlook Share, 2023 & 2030 (US$M)
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