Middle East & Africa Wood Plastic Composites Market Size & Outlook
Middle East & Africa wood plastic composites market, 2018-2030 (US$M)
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MEA wood plastic composites market highlights
- An overview of the MEA wood plastic composites market trends heading towards 2030. The MEA market generated a revenue of USD 64.6 million in 2021.
- The overall growth of the MEA market from 2021 to 2030. The market is expected to grow at a CAGR of 7.8% from 2022 to 2030.
- A look at the MEA market revenues per segment in 2021. In terms of segment, polyethylene was the largest revenue generating product in 2021.
- The segment witnessing the fastest revenue growth within the market. Polypropylene is the most lucrative product segment registering the fastest growth during the forecast period.
- An overview of MEA market per country. Country-wise, Saudi Arabia is expected to register the highest CAGR from 2022 to 2030.
MEA data book summary
| Market revenue in 2021 | USD 64.6 million |
| Market revenue in 2030 | USD 127.2 million |
| Growth rate | 7.8% (CAGR from 2021 to 2030) |
| Largest segment | Polyethylene |
| Fastest growing segment | Polypropylene |
| Historical data covered | 2018 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Polyethylene, Polypropylene, Polyvinylchloride |
| Key market players worldwide | Compagnie de Saint-Gobain SA, Fortune Brands Innovations Inc, FKuR, JM Holdings Co Ltd, TAMKO Building Products, Trex Co Inc, UFP Industries Inc, Advanced Environmental Recycling Technologies, Beologic, Polyplank, Timber Tech |
Other key industry trends
- In terms of revenue, MEA region accounted for 1.1% of the global wood plastic composites market in 2021.
- Globally, North America 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 4,931.8 million by 2030.
Polyethylene was the largest segment with a revenue share of 65.17% in 2021. Horizon Databook has segmented the Middle East & Africa wood plastic composites market based on polyethylene, polypropylene, polyvinylchloride covering the revenue growth of each sub-segment from 2018 to 2030.
An increasing use of wood plastic composite in construction application is expected to drive the market demand in this region. The Middle East is a hub for oil refineries and the presence of several major oil companies in GCC countries has further strengthened the region’s economy.
The regional government, by taking the depletion of its oil reserves in the near future into consideration has invested in construction sector to strengthen its hospitality sector, which in turn is expected to increase the demand for wood plastic product in the region over the forecast period.
The construction of Palm Islands, Dubai, United Arab Emirates, has boosted the tourist footfall in the region. The regional government is taking steps to make the Middle East region an infrastructural marvel. It is leveraging its abundant oil & gas reserves and increasing its infrastructural monuments.
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Wood Plastic Composites Market Scope
Wood Plastic Composites Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa wood plastic composites market
Middle East & Africa Wood Plastic Composites Market Outlook Share, 2021 & 2030 (US$M)
Middle East & Africa wood plastic composites market
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