The project involves the establishment of a factory for the production and manufacture of plastic electrical pipes. The project produces and manufactures plastic electrical pipes of various diameters used in the construction sector.
The project involves the establishment of a factory for the production and manufacture of plastic electrical pipes. The project produces and manufactures plastic electrical pipes of various diameters used in the construction sector. The plastic electrical pipe factory targets the contracting and construction companies sector and commercial stores (electrical appliance stores). Therefore, establishing a factory for the production and manufacture of plastic electrical pipes is considered a great investment opportunity that achieves high economic returns compared to other projects. The plastic electrical pipe factory aims to employ the workforce and improve their economic and social standard. Achieving a high quality level for the factory’s products, and maintaining a competitive price level enables the project to obtain its target share. It also contributes to covering part of the increasing demand for plastic electrical pipe products, and uses the latest methods in the field of manufacturing plastic electrical pipe products.
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In 2020, the global plastic market was estimated to be worth approximately $579.7 billion. This market is expected to reach a value of $750.1 billion by 2028, with a compound annual growth rate (CAGR) of 3.4%.
As for the Gulf Cooperation Council (GCC) region, the plastics industry has grown significantly in recent decades, driven by government efforts to diversify economies and reduce dependence on oil and gas as the sole sources of revenue.
It is also worth noting that the increasing demand for plastics in certain industries has… such as: …automobiles, packaging materials, construction, and water pipes—has also contributed to the growth of this vital industry.
In fact, a report by the Gulf Petrochemicals and Chemicals Association (GPCA) stated that plastics represent the second-largest industrial sector in the region, with products valued at $108 billion.
For those interested in gaining insights into the key indicators of this industry in Saudi Arabia, “Mashroo3k” will present specific points that can serve as a guide for your investment journey, based on the latest available statistics.
Finally, “Mashroo3k” emphasizes that global demand for plastics is expected to triple by 2050.
Current data also indicates a significant rise in plastic consumption among individuals in Gulf Cooperation Council (GCC) countries, with per capita plastic consumption estimated at 94 kg per year, according to the latest available statistics.
According to the Organization for Economic Cooperation and Development (OECD), global plastic production totaled 234 million metric tons in 2000 and surged to 460 million metric tons, reflecting massive growth in the sector.
Given this expansion, “Mashroo3k” strongly recommends investing in this industry, especially as global plastic waste has also increased from 156 million metric tons in 2000 to 353 million metric tons in 2019.
The global plastics market was valued at $593 billion in 2021. By the end of 2022, the market was expected to reach $609.01 billion.
With a compound annual growth rate (CAGR) of 3.7%, the market is projected to expand to approximately $811.57 billion by 2030.
