The Middle-East & Africa thermoplastics market size is estimated to register a substantial CAGR of above 5% during the forecast period, 2021–2028. The growth of the market is attributed to rising demand from numerous key end-user industries.
Thermoplastic refers to softening polymers that can mold above specific temperatures and solidify after cooling. The intermolecular chains in these polymers weaken rapidly under a certain temperature zone due to which they are applicable in various processing techniques such as injection molding and extrusion.
These plastics are used in numerous applications such as medical, electrical & electronics, construction, and electrical appliances. The thermoplastics are also employed in automotive vehicles, additive manufacturing, consumer goods, batteries, membrane & filtration, personal care product, and oil & gas industries.
The Covid-19 pandemic had an adverse impact on the thermoplastics market. The production and supply in the market has been on halt owing to lockdown; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
The report on the Middle-East & Africa thermoplastics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Middle-East & Africa Thermoplastics Market –Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Product Type (Commodity Thermoplastics, Engineering Thermoplastics, High-performance Engineering Thermoplastics, and Other Product Types), End-user Industry (Packaging, Building and Construction, Automotive and Transportation, Electrical and Electronics, Sports and Leisure, Furniture and Bedding, Agriculture, Medical, and Other End-user Industries) |
Geography |
Saudi Arabia, United Arab Emirates, South Africa, and Rest of Middle-East and Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Evonik Industries AG, LANXESS, SABIC, LyondellBasell Industries Holdings B.V. (incl. A. Schulman Inc.) and Solvay. |
Based on product type, the thermoplastics market is segregated into commodity thermoplastics, engineering thermoplastics, high-performance engineering thermoplastics, and other product types. The engineering thermoplastics segment is expected to account for a key share of the market during the forecast period owing to polyethylene terephthalate a by-product of engineering thermoplastics with numerous properties such as design flexibility, portability, light weight, ease of cleaning, and protection against moisture. Therefore, it is majorly used for packaging purposes.
Based on end user industry, the thermoplastics market is divided into packaging, building and construction, automotive and transportation, electrical and electronics, sports and leisure, furniture and bedding, agriculture, medical, and other end-user industries. The packaging segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to application of engineering plastics in the packaging segment, with better wear and chemical resistance, recyclability, ease of molding, puncture resistance, and high mechanical strength; however automotive and transportation segment is anticipated to expand at a rapid pace during the forecast period owing to the lightweight benefits, high stiffness, and excellent heat resistance properties of thermoplastics.
In terms of geography, the market is broadly classified into Saudi Arabia, United Arab Emirates, South Africa, and Rest of Middle-East and Africa. The market in Saudi Arabia is anticipated to expand at a robust CAGR during the forecast period. The government initiatives such as reforming economic policies, investments in diversified sectors, and attract private investments in the country, to make it a diversified economy that is not dependent on oil is expected to drive the market growth in near future.
Segments Covered in the Report
The thermoplastics market has been segmented on the basis of: -
Product Type
End-user Industry
Geography
Key Companies
Key players competing in the thermoplastics market include Evonik Industries AG, LANXESS, SABIC, LyondellBasell Industries Holdings B.V. (incl. A. Schulman Inc.) and Solvay.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
Segments Covered in the Report
The thermoplastics market has been segmented on the basis of: -
Product Type
End-user Industry
Geography
Key Companies
Key players competing in the thermoplastics market include Evonik Industries AG, LANXESS, SABIC, LyondellBasell Industries Holdings B.V. (incl. A. Schulman Inc.) and Solvay.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
Some other reports from this category!