The project is a wood-plastic composite (WPC) products factory. The factory produces interior doors, windows, chairs, tables, and kitchens in various sizes, tailored to customer specifications in terms of thickness, size, and shape. The WPC industry relies on a special blend of plastic components with natural fibers from wood or agricultural by-products.
The project is a wood-plastic products factory. The factory produces interior doors, windows, chairs, tables, and kitchens in various sizes according to customer specifications in terms of thickness, size, and shape. The wood-plastic industry relies on a special blend of plastic components with natural fibers from wood or agricultural by-products. After special treatment, the fibers are prepared to blend strongly with the plastic using innovative mixing methods. This is to achieve the dual benefits of the new product (which combines the properties of plastic with those of wood). The plastic components protect the wood from water and insects, while the wood protects the plastic from ultraviolet rays. The new product features the texture and hardness of plastic and the durability of wood. These products are characterized by lightness, strength, and durability, and are manufactured using the latest modern technologies, the best machines and equipment, and relying on the best production lines. This enables the factory to compete with local producers and meet the growing demand for the product. The project targets several sectors, such as the contracting sector, furniture stores, and homes.
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Market Size Study
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Organizational and administrative study
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.
