Molded Plastics in GCC Industry Perspective, Comprehensive Analysis and Forecast 2015–2023

The molded plastics market in GCC is highly fragmented in nature. The market comprises a large number of local players.


Albany, NY -- (SBWIRE) -- 11/02/2016 -- Molded plastics are formed or molded products made of polymers or as they are commonly known, plastics. Molded plastics are products that are produced using molds or casts to give the raw material a desired shape. The technologies used for molding plastics include injection molding, blow molding, thermoforming, rotomolding, casting and profile extrusion among others. Molded plastics are primarily utilized in construction, packaging, automotive, furniture, medical, electronics, and consumer goods industries. Molded plastics offer the advantage of developing products and solutions that are lighter and inert. These are typically used as effective substitutes for metal, wood and paper. In addition to inertness and light weight, molded plastics enable shorter process time, which can be attributed to their easy handling and molding technologies. Technologies such as injection molding, profile extrusion and thermoforming enable fast production of molded plastic products in a wide variety of shapes. This has helped applications, especially in packaging and construction industries, to achieve time and cost benefits that are purely attributed to fast process time.

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Currently, the packaging industry is the major consumer of molded plastics in GCC. Molded plastics are used in the manufacture of packaging solutions including bottles and containers for foods, beverages, cosmetics, pharmaceuticals, and personal care items. Molded plastics products such as pipes, fixtures, and conduits are also widely used in a variety of applications in the construction, automotive and furniture industries. PE and PET are expected to be the key raw materials used for molded plastics products used in packaging applications. PVC and PE are the major raw materials that are currently used in construction applications of molded plastics. Construction and packaging industries primarily boost demand for molded plastics in GCC. Hence, growth in these industries is anticipated at an above-average rate in GCC in the next few years. These application segments are primarily driven by rising trade activities and increasing investments in the construction industry in GCC.

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Economic and political instability has resulted in unpredictable demand patterns in Europe and the Middle East which are key export markets for molded plastic producers in GCC. This is anticipated to primarily restrain the molded plastics market in GCC. However, investments in R&D activities and product portfolio expansion are anticipated to provide prospective opportunities for growth of the molded plastics market in GCC in the near future.

In terms of volume, PE molded plastics continued to dominate the molded plastics market in GCC, accounting for over 30% share in 2014. It is also estimated to be the fastest-growing segment of the molded plastics market during the forecast period in GCC. This rapid growth can be ascribed to high growth in the packaging industry in the region during the forecast period.

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Injection molding technology for molded plastics is projected to dominate the molded plastics market in GCC in terms of volume between 2014 and 2023. Injection molding is a versatile technology and can be used to mold plastics into a wide array of shapes, sizes and forms. The market share of injection molding is projected to reach more than 45% mark in terms of volume in GCC by 2023.

In terms of volume, bottles & container product segment dominated the molded plastics market in GCC, constituting more than 40% share in 2014. It is also projected to be the fastest-growing technology segment in GCC during the forecast period owing to large demand from the packaging industry.

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