Saudi Arabia PVC Market to be dominated by utilization of PVC in electrical and electronics industry through 2028
Initiatives
taken by the government to support the production of PVC are the major drivers
for the Saudi Arabia PVC Market.
According to TechSci Research report, “Saudi
Arabia PVC Market – By Region, Competition, Forecast and Opportunities,
2018-2028F”, the Saudi Arabia PVC Market is
anticipated to register a high CAGR during the forecast period. This can be
ascribed to collaborations and partnerships among leading companies with a
diverse approach to merge the expertise of individual companies and to
strengthen their position in the market.
Polyvinyl chloride (PVC) has become an
indispensable material across various industries, with its utilization in the
electrical and electronics sector playing a significant role in driving the PVC
market in Saudi Arabia. PVC is widely employed in cable and wire production due
to its excellent electrical insulation properties. Its durability, flexibility,
and resistance to chemicals and weather conditions make it an ideal choice for
both indoor and outdoor applications. The increasing demand for power
transmission, telecommunications, and infrastructure development in Saudi
Arabia has resulted in a surge in cable and wire production, thereby driving
the demand for PVC. Additionally, PVC finds extensive use in the manufacturing
of electronic components such as connectors, sockets, and cable harnesses. Its
mechanical strength, flame resistance, and chemical stability make it
well-suited for these applications. With the expansion of the electronics
industry in Saudi Arabia, driven by smart technologies and digital
transformation, the demand for PVC-based electronic components is expected to
rise significantly. Furthermore, Saudi Arabia is witnessing substantial
infrastructure development, including residential, commercial, and industrial
buildings, as well as transportation and energy projects. PVC pipes are
extensively utilized in plumbing, sewage, and drainage systems for these
construction activities. The growth of the construction sector, coupled with
government initiatives to enhance infrastructure, is propelling the demand for
PVC pipes in the country. Notably, Saudi Arabia has prioritized sustainability
and environmental preservation, implementing initiatives to promote the
recycling and proper management of plastic waste, including PVC.
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Through favorable policies and regulations, the
government has encouraged active private sector participation in major
infrastructure projects, promoting the use of recycled PVC materials. These
initiatives have not only contributed to reducing plastic waste but have also
created opportunities for the growth of the PVC recycling market in Saudi
Arabia. A recent initiative taken by the Saudi Arabian government is the
implementation of a new Waste Management Law in 2021, aiming to regulate the
transport, segregation, storage, import, export, and safe disposal of waste,
including PVC materials. The government's focus on waste management reflects
its commitment to sustainable practices and environmental preservation.
Additionally, the government's Vision 2030 plan, aimed at diversifying the
country's economy and reducing dependency on oil reserves, places strong
emphasis on promoting renewable energy and increasing energy efficiency.
These initiatives indirectly impact the PVC market,
creating opportunities for the use of PVC materials in renewable energy
projects and energy-efficient infrastructure. Collaborations and partnerships
have played a pivotal role in expanding the PVC market in Saudi Arabia. Saudi
Arabian PVC manufacturers have formed strategic alliances with international
partners to access advanced technologies and expand their market reach. For
instance, AlQaryan Group, a prominent player in the Saudi Arabian PVC recycling
industry, has established long-term partnerships for onsite metal recycling and
PVC recycling projects. These collaborations contribute to the effective management
of PVC waste and promote a more sustainable approach to resource utilization. However, fluctuations in oil prices and lack in
availability of feedstock are expected to slow down the growth of the market in
the coming years.
The Saudi Arabia PVC Market segmentation is based on
Product Type, End User, By Company, and Region
Based on Product Type, Rigid
PVC held the largest market share in the forecast period. This can be
attributed to the widespread use of rigid polyvinyl chloride (PVC) in various
industries. Its versatility makes it ideal to produce machining shapes, pipes,
sheets, fittings, ducts, and valves. Rigid PVC is particularly valued for its
affordability and excellent strength-to-weight ratio, making it a popular
choice in many applications. With its numerous advantages, it is projected to
maintain its dominance in the market throughout the forecast period.
Some of the major companies operating in the Saudi
Arabia PVC Market include:
- SABIC
- Arabian Plastic Compounds Co., Ltd.
- Interplast Co., Ltd.
- Arabian gulf Manufacturers Ltd.
- Saudi Plastic Products Company Limited
- New Product Industries Co., Ltd.
- Intergulf Ltd.
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“Certain regions, particularly the northern and
central region, are projected to exert significant demand for PVC in Saudi
Arabia. The growth in the competitive landscape and the presence of
well-established companies in the market, committed to enhancing their PVC productivity
each year, are expected to contribute to a remarkable growth of the Saudi
Arabia PVC Market in the forecast period," said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based Global management consulting
firm.
Saudi
Arabia PVC Market By Product Type (Rigid PVC, Flexible PVC, Low-Smoke PVC,
Chlorinated PVC), By End User (Building & Construction, Automotive,
Electrical & Electronics, and Others), By Region, Competition, Forecast and
Opportunities, 2018-2028F has evaluated
the future growth potential of Saudi Arabia PVC Market and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide innovative market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Saudi Arabia PVC Market.
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