Dublin, June 19, 2024 (GLOBE NEWSWIRE) -- The "GCC PVC Additives Market 2024-2030 Share, Trends, Value, Analysis, Outlook, Forecast, Growth, Industry, Companies, Size & Revenue: Market Forecast By Type By Fabrication Process By Application By End User By Countries And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
GCC PVC Additives Market size is projected to grow at a CAGR of 7.1% during 2024-30F.
The PVC additives market in the GCC has experienced notable growth, fuelled by several pivotal factors. A primary catalyst has been the burgeoning infrastructure development in the region, spurred by the rapid expansion of urban areas. Moreover, the flourishing hospitality sector has significantly contributed to this expansion. As, there has been an increased demand for various products, including pipes and fittings, wire cables, profiles and tubing, driving substantial market growth for PVC additives such as plasticizers, stabilizers, flame retardants, and others in the GCC region.
The escalating emphasis on automobile manufacturing in GCC nations such as Saudi Arabia, highlighted by initiatives such as the PIF-Hyundai joint venture, is anticipated to spur the demand for PVC additives, given their essential contribution to manufacturing vehicle interior and exterior components.
Furthermore, expansions such as Samvardhana Motherson's operations in the UAE indicate an increasing need for automotive components, thereby reinforcing the market for PVC additives in the region. Despite the growth prospect, the market faces some challenges that could impede its growth such as the growing adoption of sustainable alternatives like bio-based plastics and HDPE in industries including packaging, consumer goods and others. Also, the fluctuating raw material prices is another challenge of the market.
However, the GCC region is also witnessing a surge in demand for packaging solutions across sectors such as food, beverages, pharmaceuticals, and cosmetics, driven by the need for convenience and advancements in technology. The GCC PVC Additives industry has witnessed significant growth during the past years, underpinned by the growing urbanization which has led to an increased demand for housing, commercial spaces, and infrastructure facilities, all of which require PVC products like pipes, fittings, and profiles.
Market Segmentation by Type
Plasticizers had the highest revenue share in 2023 underpinned by its ability to impart flexibility, elasticity, and durability to PVC products. They help in reducing the rigidity of PVC resin, making it more pliable and easier to process during manufacturing processes.
Market Segmentation by Fabrication Process
Extrusion offers high levels of efficiency and cost-effectiveness compared to other fabrication processes. It allows for continuous production of long lengths of PVC products with consistent quality and minimal waste leading to its high revenue share in 2023.
Market Segmentation by Application
Pipes and fittings are gaining traction in the market, being essential components of water supply, sewage, drainage, irrigation, and plumbing systems. The indispensable nature of PVC pipes and fittings in these applications ensures a consistent demand and substantial revenue share within the PVC additives market.
Market Segmentation by End Use
The construction segment is leading the GCC PVC Additives Market share with the rising investment in construction and infrastructure development projects spanning residential, commercial, and industrial sectors fuels the widespread utilization of PVC additives in construction activities.
Market Segmentation by Country
The presence of a robust petrochemical infrastructure provides Saudi Arabia with a competitive advantage in PVC additives manufacturing, leading to higher revenue generation within the market.
Key Highlights of the Report
- GCC PVC Additives Market Overview
- GCC PVC Additives Market Outlook
- GCC PVC Additives Market Forecast
- Historical Data and Forecast of GCC PVC Additives Market Revenues and Volume, for the Period 2020-2030F
- Historical Data and Forecast of GCC PVC Additives Market Revenues and Volume, By Type, for the Period 2020-2030F
- Historical Data and Forecast of GCC PVC Additives Market Revenues and Volume, By Fabrication Process, for the Period 2020-2030F
- Historical Data and Forecast of GCC PVC Additives Market Revenues and Volume, By Application, for the Period 2020-2030F
- Historical Data and Forecast of GCC PVC Additives Market Revenues and Volume, By End Use, for the Period 2020-2030F
- Historical Data and Forecast of GCC PVC Additives Market Revenues and Volume, By Countries, for the Period 2020-2030F
- Porter's Five Force Analysis
- Drivers and Restraints
- GCC PVC Additives Market Trends
- GCC PVC Additives Market Opportunity Assessment
- GCC PVC Additives Market Competitive Benchmarking
- GCC PVC Additives Market Key Manufacturers
- GCC PVC Additives Market Production Capacity Analysis
- Company Profiles
- Key Strategic Recommendations
Company Profiles
- Patcham FZC
- Lanxess
- Fortune Emirates General Trading L.L.C
- Radhey Polymers L.L.C
- Arkema
- BASF SE
- Songwon Industrial Co.
- Wuxi Jubang Auxiliary Co.,Ltd
- Adeka Al Otaiba Middle East LLC
- Cargill Incorporated
- Power Additives
- LyondellBasell Industries Holdings B.V
- Kaneka Corporation
- LG Chem
- Dow Chemical Company
Market Scope and Segmentation
By Type
- Plasticizers
- Flame Retardants
- Stabilizers
- Impact Modifiers
- Processing Aids
- Others
By Fabrication Process
- Extrusion
- Injection Moulding
- Others
By Application
- Pipes & Fittings
- Profiles & Tubing
- Rigid Sheet & Panels
- Bottles
- Wire Cables
- Others
By End User
- Packaging
- Construction
- Automotive
- Consumer Goods
- Others
By Countries
- Bahrain
- Kuwait
- Oman
- Qatar
- Saudi Arabia
- UAE
For more information about this report visit https://www.researchandmarkets.com/r/7gu04z
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