Middle East Polymer Market, By Product (Polyethylene (PE), Polypropylene (PP), Acrylonitrile Butadiene Styrene, Polyamide (PA), and Others) Industry Trend and Forecast to 2030.
Middle East Polymer Market Analysis and Insights
The Middle East polymer market is expected to gain significant growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyses that the market is growing with a CAGR of 4.7% in the forecast period of 2023 to 2030 and is expected to reach USD 75,295.96 million by 2030. The major factor driving the growth of the Middle East polymer market is the rising demand for polymer based product from industries sector such as packaging materials, automotive, aerospace and marine and construction, among others.
Polymer are made up of multiple units of small molecule units called monomers by the process called polymerization. Based on the source of origin, the polymer is categorized into natural and synthetic polymers. Natural polymers, also known as bio polymers, like silk, rubber, cellulose, wool, and many others. Synthetic polymers is a chemical based products, mostly using petroleum as their feedstock, added with others catalyze and enzymes which are prepared by chemical reactions in labs, for example like polystyrene, nylon, silicone, neoprene, polyethylene and many others. Polymers are widely used in various way possible in various industries ranging from automotive, aerospace, marine, construction materials, packaging, and textiles, households, medicals and pharmaceuticals appliance.
The Middle East polymer market report provides details of market share, new developments, and the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, products approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2020-2016)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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By Product (Polyethylene (PE), Polypropylene (PP), Acrylonitrile Butadiene Styrene, Polyamide (PA), and Others),
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Countries Covered
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Country (UAE, Saudi Arabia, Israel, Oman, Qatar, Kuwait, Bahrain, and the Rest of the Middle East).
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Market Players Covered
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SABIC, Lyondellbasell Industries Holdings B.V, BASF SE, Sumitomo Chemical Co. Ltd., Saudi Polymer LLC, Qatar Petrochemical Company (QAPCO)Q. P.J.S.C, Venus Petrochemicals (Bombay) Pvt. Ltd, Middle East Polymers & Chemicals L.L.C, Petro Rabigh, Exxon Mobil Corporation, Borouge, Reliance Industries Limited.
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Market Definition
The polymer has many useful properties which make it suitable for various end-use industry applications. It has low strength and hardness but is very ductile and has good impact strength; it will stretch rather than break. Polymer-based products have a good electric insulator, offering electric treeing resistance but can become electrostatically charged. Hence, owing to these properties, the demand for polymers is gaining momentum in various industries such as automotive, electrical and electronics, food and beverage, and consumer goods. In the automotive industry, manufacturers are focusing on increasing the efficiency of vehicles by reducing their weight of the vehicles. The polymer material is preferred as it is lightweight and offers easy processability, sealing and stiffness properties. In the food and beverage industry, the consumption of polymers is growing at a rapid pace due to the rising demand for the production of packaging materials for food and beverage. Manufacturers prefer effective packaging to reduce the possibility of food contamination and loss of quality. The use of polymers in fashion, sports, and toys is growing due to their ability to resist physical stresses and durability, provide flexibility in packaging, and allow easy molding of products. In the agriculture industry, the application of polymers is growing owing to increasing demand for drippers, micro tubes, nozzles, and emitting pipes at irrigation fields.
Middle East Polymer Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints, and challenges. All of this is discussed in detail below:
Drivers
- Growing expansion in the automotive industry
In this modern world, automobiles and vehicles have been major commodities for people to commute from one place to another. Automotive is also used by people for transportation of a variety of other purposes, such as the transfer of goods and services between locations. In essence, a vehicle consists of an engine, chassis, body part, tires, drive transmission & steering parts, suspension, brake and electrical equipment that combine together for functionality. Apart from this, some extra luxury equipment is added depending on the type and category of the car to improve the look, functionality and comfort. Rising demand in a new development in the automotive industry from a customer for new design features and comfort, along with various regulation and safety measures impost by various governments, has resulted in the addition of extra equipment, which contributes to the overall weight of the vehicles. Environmental restrictions by government bodies and fuel efficiency is the major crucial factor for vehicle design. To compensate for the extra weight and fuel efficiency of the vehicles, it is crucial to develop a design and product to be lightweight in structure. This can be achieved by using polymer based products like Polypropylene, Polyurethane, Polyamides and PVC, Acrylonitrile Butadiene Styrene, Polycarbonate (PC) and many others, which are lightweight as compared to their metal counterpart. Because of their reliable functionality, light weight, toughness, and wear resistance, polymer like high-performance thermoplastic elastomers (TPEs) and liquid rubbers found their way to the manufacturing of automotive parts like tires, exterior, interior, under-hood, Noise, Vibration, Harshness (NVH) and damping and lightings, they assist provide safety and comfort while also reducing emissions. The growing expansion of the automotive industry is expected to rise the demand for polymer in the Middle East polymer market.
- Growth in the aerospace and marine industry
The aerospace industry is one of the most significant industries in the Middle East due to the driving growth for many years, The Middle East poses as a popular connection for international travelers and trade and is also a major destination for business, tourism and leisure passengers. When building an aircraft, finding a secure balance between great strength and low weight is essential. In order to resist the many forces occurring on an airplane while it is in flight, aircraft structures must be light, sturdy, and stiff. Additionally, they must be strong enough to endure these stresses for the whole lifespan of the aircraft. The payload capacity, price, range, speed, fuel efficiency, durability, noise levels, necessary runway length, and a host of other criteria are all carefully balanced against one another in each aircraft design. Polymers have a major component in the aerospace industry. Due to their lightweight, Corrosion-resistance, Impact-resistance, Chemical-resistance, Durable and cost-efficiency, polymers is highly used in the manufacturing of aerospace components, and navigational functions, structural elements and interior components that contribute to cutting weight and fuel efficiency is a major concern. When it comes to military aircraft, lightweight polymer help in extending flight range to evade radar detection.
Opportunities
- Development of bio-based polymers
Disposal of plastic and other polymers product is the major concern for the environment, polymers based Plastics are produced in large quantities and used more often in daily life, which has a bad impact on the environment. To counter this, biodegradable polymers are being developed to replace non-biodegradable polymer materials. Biodegradable polymer also known as biopolymers are materials that are eco-friendly and can be degrade after used and are made from variety of waste or bio-sources such as food waste, animal waste, agro-waste, and other sources like starch, and cellulose. Biodegradable materials are becoming increasingly popular in recent years for application in packaging, agriculture, medicine, and other fields. It is believed that using biodegradable polymer products will have a good impact on the environment and the economy by reducing and consequently reducing pollution. The development of sustainable and eco-friendly polymers is expected to provide an opportunities for the Middle East polymer market.
- Government investment and support for increasing infrastructure and manufacturing
The government in the Middle East is focusing in the investment of new infrastructure projects that involve in direct link with the economy development of the country. Considering the Middle East strategic location in the globe Middle East has emerged as the growing hub for trade and commerce, tourism, and not to forget their booming petroleum industry. With the development of materials science and technologies, polymers materials have exhibited its potential in the construction industries due to their superior qualities such as waterproof, wear resistant, anticorrosion, antiseismic, lightweight, good strength, sound insulation, heat insulation, good electric insulation and bright colors. Polymer materials, including the insulation layer of water supply and drainage pipes, wire and cable, and wall insulation material, have been widely used in construction due to their outstanding qualities. converted into bitumen or tar through a conventional modifier. Polymer-based construction materials have been widely used in building coatings, safeguard construction materials, enhance their aesthetic appeal, and provide unique functionalities, including fire-resistant, waterproof, heat-insulating, self-healing, sterilization, and anticorrosive coatings. Additionally, the use of polymer binders would effectively improve the bonding abilities of cement or mortar. The focus by the governmental body funding and investment on new infrastructure projects and development of various projects on construction of many upcoming infrastructures is expected to act as an opportunity for the polymer manufacturer and producer to grow if we take proper attention with the right approach.
Restraints/ Challenges
- Strict government regulations on polymer based product
Polymers are made up of by the corporation of many chemically small unit called monomer which, most of which are considered to possess a threat to both humans and the environment. To overcome and counter the health and environmental risk possess by the polymer product, several government and NGO’s bodies are implementing strict regulation, taxes on product sourcing and product transportation. As a result, the scenario has become increasingly difficult to comply with. Environmental, social, and governance (ESG) issues are becoming increasingly critical for the polymers industries added, with consumers are giving more importance to the products that have little to no social and environmental thread. Moreover, several complex situation impost by the government in the import-export, both at the domestic and international level addition with the restriction on the environmental impact is expected to restrain the polymer market in the Middle East region.
- Harmful impact of polymers on the environment
Despite their advantages and popularity in various industries, polymer are highly hazardous to the environment due to their high corrosive resistant and non-degradable in nature polymer especially the single used plastics once used it end mostly as waste in the landfill which gradually end up in the water bodies like rivers and ocean harming the both the aquatic and terrestrial life. For Example, water bottles and other similar materials made up of polyethylene terephthalate (PET), which is a petroleum based polymer that take upto 450 years to decompose. Polymer compound and polymer finished products due to its large quantity. Recycling of polymer waste includes many processes, which are the separation of polymer compound, grinding and separation of impurities, which comprises high cost. The difficulty of polymer to be decomposed has possess many difficulties and challenges to the manufacturer due to their adverse effect on the environment, and contribution to waste will act as a challenge to the growth of the polymer market.
Recent Developments
- In December 2014, in a magazine by Toyota (GB) PLC state that Toyota created a nano clay-polyamide known as Nylon-6, a synthetic clay exfoliated to a thickness of around five atoms between layers of nylon polymer base material. The technology has advanced to reduce tire rolling resistance and create ultra-hard protective coatings for paintwork, windscreen glass, and headlamps. This material has larger uses, such as bumpers, body panels, and fuel tanks.
- In December 2018, a report by Bicerano & Associates Consulting, LLC stated that aircraft interiors and tires both use polymer matrix composites. Many interior parts of airplanes, including interior panels, instrument panels, table tops, bar tops, countertops, doors, cabinets, trim, casings, and overhead storage bins, are made of polymers and polymer matrix composites.
Middle East Polymer Market Scope
The Middle East polymer market is categorized based on product. The growth amongst the segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Products
- Polyethylene (PE)
- Polypropylene (PP)
- Acrylonitrile Butadiene Styrene
- Polyamide (PA)
Based on product, the Middle East polymer market is classified into Polyethylene (PE), Polypropylene (PP), Acrylonitrile Butadiene Styrene, and Polyamide (PA).
Middle East Polymer Market Regional Analysis/Insights
The Middle East polymer market is segmented on the basis of product and market size insights and trends are provided based on as referenced above.
The countries covered in the Middle East polymer market are UAE, Saudi Arabia, Israel, Oman, Qatar, Kuwait, Bahrain, and the Rest of the Middle East.
This regional report provides individual market-impacting factors and changes in market regulation that impact the current and future trends of the market. Data points downstream and upstream value chain analysis, technical trends, porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of international brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape Middle East Polymer Market Share Analysis
Middle East polymer market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product approvals, patents, product width and breadth, application dominance, product lifeline curve. The above data points provided are only related to the companies’ focus related Middle East polymer market.
Some of the prominent participants operating in the Middle East polymer market are SABIC, Lyondellbasell Industries Holdings B.V, BASF SE, Sumitomo Chemical Co. Ltd., Saudi Polymer LLC, Qatar Petrochemical Company (QAPCO)Q. P.J.S.C, Venus Petrochemicals (Bombay) Pvt. Ltd, Middle East Polymers & Chemicals L.L.C, Petro Rabigh, Exxon Mobil Corporation, Borouge, Reliance Industries Limited, among others.
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