Report Ocean recently published an extensive intelligence report titled “GCC Building & Construction Plastic Market Report: Size, Share, Competitive Landscape, Technology, Latest Updates, and Forecasts to 2030.” This report provides a comprehensive analysis of the market at a micro-level, focusing on insurers, major market sectors, products, and distribution methods within the industry.
The competitive segment of the report offers a summary of key competitors, their financial conditions, recent developments, competitive analysis, and market advancements. This analysis enables market participants to effectively identify relevant opportunities by assessing the strengths and weaknesses of major competitors.
The term “GCC Building & Construction Plastic Market” refers to the six countries that make up the Gulf Cooperation Council’s market for plastics used in building and construction. In the construction industry, pipes and fittings, insulation materials, roofing, flooring, and wall coverings are all common uses for building and construction plastics.
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Insights into the Market Over the Forecast Period, the GCC Building & Construction Plastic Market is anticipated to expand at a CAGR of approximately 10.3%. i.e., 2023-28, as stated in the research report by Report Ocean.
Since the GCC region has been experiencing significant infrastructure development in recent years, the expanding construction industry is the primary driver of the market for building and construction plastics. Plastics used in building and construction activities provide durability, strength, weather resistance, and overall weight reduction to structures, gaining widespread popularity among architects and builders. In addition, the growing need to replace or renovate weak structures and massive investments in the public and private sectors have raised the number of building and construction projects across the GCC region, accelerating market growth. The market for building and development plastics in the GCC locale is supposed to develop at a consistent speed before long, determined by the rising interest for lightweight, savvy, and sturdy structure materials.
Driver of Market Dynamics: The GCC Building & Construction Plastic Market is expected to be driven primarily by the rising demand for construction plastic materials that are both lightweight and inexpensive in comparison to other alternatives. Moreover, insignificant upkeep and most extreme strength and solidness will additionally expand the notoriety and reception of plastics by different engineers, developers, and architects. In addition, in the years to come, the market expansion will be further bolstered by the rising demand for plastic decorations due to its cost-effectiveness, fire resistance, and other attributes.
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Challenge: Growing Concerns About the Use of Plastic Waste and Stringent GCC Environmental Regulations Could Pose a Challenge to the Market Plastic-related environmental concerns could pose a challenge to the market. The regulations imposed by governments in GCC nations to discourage the use of plastic may impede market expansion during the forecast period due to the fact that plastics pose a threat to aquatic and terrestrial environments alike. In addition, the demand for plastics utilized in building and construction activities may be hampered by the availability of alternatives like fiberglass and wood.
Type-Based Market Segmentation:
Polyethylene, polypropylene, expanded polystyrene, polyvinyl chloride (PVC), and other materials (such as thermoplastics and polyurethane)
In terms of type, the GCC building and construction plastic market is expected to be dominated by polyvinyl chloride (PVC) in the upcoming years. PVC is one of the most frequently used plastics in the construction industry because of its durability, resistance to chemicals, and adaptability to a wide range of applications. Pipes and fittings, windows and doors, roofing, flooring, and wall coverings are all common uses for PVC. It is also well-known for being inexpensive and simple to install, making it a popular choice for builders and contractors. In addition, the GCC region’s expanding construction industry is anticipated to further boost PVC demand in the coming years. According to Report Ocean’ research report, “GCC Building & Construction Plastic Market Analysis, 2023,” the region’s growing population, urbanization, and infrastructure development are expected to raise demand for building materials like PVC.
Landscape of the Country as It Is:
Saudi Arabia, Qatar, the United Arab Emirates, Kuwait, and Oman make up the majority of the GCC Building & Construction Plastic Market. It is primarily attributable to the country’s significant investments in its healthcare sector, which drive the demand for top-notch infrastructure, hospital bed capacity, and long-term care facilities and prompt the proposal of numerous construction projects. As a result, it has a direct impact on the GCC Building and Construction Plastic Market due to the growing demand for low-maintenance, cost-effective, and long-lasting plastics.
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In addition, the country will dominate the market with the largest share during the forecast period due to the privatization of hospitals and rising healthcare costs. This will also increase demand for a number of engineering plastics. In addition, the nation is making significant investments in the construction of hotels, recreational facilities, and other public infrastructure to accommodate tourists as a result of its growing focus on the tourism industry. In addition, the introduction of initiatives like Saudi Arabia Vision 30 will also increase building and construction activities, thereby boosting domestic demand for plastics.
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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