Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the GCC Building & Construction Plastic Market, The GCC Building & Construction Plastic Market is projected to grow at a CAGR of around 10.3% during the forecast period, i.e., 2023-28. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the GCC Building & Construction Plastic Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook & Forecasts:

• Forecast Period: 2023-2028
• CAGR (2023-2028): 10.3%

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GCC Building & Construction Plastic Market Segmentation Breakdown:

The GCC Building & Construction Plastic Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

• By Type
  • Expanded Polystyrene
  • Polyethylene
  • Polypropylene
  • Polyvinyl Chloride (PVC)
  • Others (Polyurethane, Thermoplastics, etc.,)

Based on Type, Polyvinyl chloride (PVC) is expected to dominate the GCC building and construction plastic market in the coming years.

• By Application
  • Cladding Panels
  • Insulation Materials
  • Worktops and Membranes
  • Windows and Doors
  • Others (Shuttering, Wall Linings, Floor Covering, etc.)
• By End-User
  • Residential
  • Non-Residential

Geographical Growth Insights:

By Country

• The UAE
• Saudi Arabia
• Qatar
• Oman
• Bahrain
• Kuwait

Of them all, Saudi Arabia accounts for the largest share of the GCC Building & Construction Plastic Market. It principally owes to the massive investments by the country in its healthcare industry,

MarkNtel Advisors Highlights Key Market Drivers for GCC Building & Construction Plastic Market:

Rising Construction Activities in the Region Has Boosted the Market Growth

The prime factors expected to drive the GCC Building & Construction Plastic Market include the rising demand for lightweight & low-cost construction plastic materials than other substitutes. In addition, minimal maintenance and utmost strength & durability shall further increase the popularity & adoption of plastics by multiple architects, builders, and designers. Besides, the growing demand for plastic for decorations, fire resistance, and cost-effectiveness shall further augment the market growth in the years to come.

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A Comprehensive Analysis of Leading Companies in GCC Building & Construction Plastic Market

• BASF SE
• Qatar Plastic Products Company (QPPC)
• Saudi Arabia Basic Industries Corporation
• ExxonMobil Chemicals
• The Dow Chemical Company
• LyondellBasell Industries (Lyondell Chemical CO.)
• Ineos Group AG
• Arkema S.A.
• Harwal Group
• Al Barshaa Plastic Product Company LLC
• Others

GCC Building & Construction Plastic Market Challenge:

Environmental Concerns Related to Plastic Would Create a Challenge for the Market

The factors that might restrain the market growth are the rising concerns over the use of plastic waste, coupled with stringent environmental regulations laid across GCC. Since plastics are a threat to both terrestrial & aquatic environments, the norms imposed by the governments of GCC countries to resist the use of plastic might hinder the market growth during the forecast period. Besides, the availability of substitutes like fiberglass and wood might also challenge the demand for plastics used in building & construction activities.

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MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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