Dublin, April 01, 2024 (GLOBE NEWSWIRE) -- The "Saudi Arabia Plastic Pipes Market, Competition, Forecast & Opportunities, 2028" report has been added to ResearchAndMarkets.com's offering.
Demand for Plastic Pipes on the Rise in Anticipation of Booming Infrastructure Development
The Saudi Arabia plastic pipes market is poised for significant growth over the next five years, thanks to an aggressive infrastructure push by the Saudi government. These advancements are in line with the country's mega projects, including the Riyadh Metro, King Abdullah Economic City, and the Red Sea Development Project, which all require extensive plastic piping systems for water supply, sewage, and drainage. The robust growth in market size is expected to be reflected in the compound annual growth rate (CAGR) recorded during the forecast period of 2024-2028.
Strong Government Initiatives Fuel Market Expansion
The Saudi Arabian government's commitment to infrastructure development has been a key catalyst for the plastic pipes market. Large-scale urban development plans are underway, aiming to transform cities like Riyadh into one of the top 10 largest cities globally by 2030. Additionally, the efforts to enhance the country's energy sector through projects by Saudi Aramco are set to attract further opportunities, thereby boosting market growth. A notable initiative includes the increase in oil production capacity to 13 million barrels per day by 2027 and a more than 50% rise in gas production by 2030.
Residential and Commercial Construction to Intensify Demand
The construction boom isn't limited to mega projects—the residential, commercial, and industrial building sectors in Saudi Arabia are also experiencing rapid growth, consequently increasing the demand for plastic pipes. The government's push for modern water and energy infrastructure only adds to the mounting need for reliable plastic pipes.
Local Availability of Raw Materials a Key Growth Driver
The Saudi plastic pipes market benefits from the local availability of key raw materials, such as PVC resin, ensuring a reliable supply chain. The inherent advantages of plastic pipes, including durability, low maintenance, and cost-effectiveness, also contribute to their popularity in the region.
Sustainability and Desalination Efforts to Sustain Market Vigor
With one of the world's highest water consumption rates, Saudi Arabia's initiatives in desalination are projected to heighten the demand for PVC materials. The transport of desalinated water relies heavily on PVC pipes, further underlining the demand in the market.
A Snapshot of Market Participants
The market features key players such as Saudi Plastic Products Company Ltd. (SAPPCO), Saudi Basic Industries Corporation (SABIC), and several others who contribute significantly to the market's development. These players are responding to the country's needs through their broad range of offerings encompassing various pipe types and applications.
Future Outlook: A Thriving Market
The Saudi Arabia plastic pipes market is segmented across type, end-user, diameter, and region, representing a comprehensive landscape of the market. The increased attention to sustainable and technologically advanced cities, like the anticipated Neom city project, will continue to drive demand for plastic pipes. These factors combine to envision a thriving future for the plastic pipes market in Saudi Arabia through to 2028.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 84 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $1.37 Billion |
| Forecasted Market Value (USD) by 2028 | $3.43 Billion |
| Compound Annual Growth Rate | 16.5% |
| Regions Covered | Saudi Arabia |
A selection of companies mentioned in this report includes, but is not limited to:
- Saudi Plastic Products Company Ltd. (SAPPCO)
- Saudi Basic Industries Corporation
- New Products Industries Co Ltd
- Arabian Gulf Manufacturers Ltd
- Al Watania Plastics
- Munir Munif Plastic Factory
- Almona Plastic Product Company Ltd. Co
- Arabian Plastic Manufacturing Company Ltd
- Saudi Plastic Products Company Ltd. (SAPPCO)
- Hepworth
For more information about this report visit https://www.researchandmarkets.com/r/akgjx1
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