Saudi Arabian Plastic Pipes Market Set for Robust Expansion
The plastic pipes sector in Saudi Arabia is on the brink of a substantial growth spurt, driven by the government’s ambitious infrastructure projects. The upcoming years, specifically from 2024 to 2028, are expected to showcase a remarkable increase in market size, with forecasts predicting a substantial compound annual growth rate (CAGR).
Aggressive Infrastructure Developments Feed Market Surge
The nation’s commitment to infrastructural enhancement is a cornerstone for the plastic pipes market’s expansion. High-profile projects such as the Riyadh Metro, King Abdullah Economic City, and the Red Sea Development Project are in need of extensive plastic piping networks for applications like water supply, sewage, and drainage.
Government Initiatives Propel Forward Momentum
Large-scale urban development initiatives, such as the plan to elevate Riyadh into the world’s top 10 largest cities by 2030, are stimulating the market. Moreover, the energy sector’s growth, propelled by Saudi Aramco’s projects, is anticipated to open new avenues, with plans to increase oil production capacity to 13 million barrels per day by 2027 and a significant increase in gas production by 2030.
Construction Sector’s Expansion Boosts Plastic Pipes Demand
The demand for plastic pipes is not limited to mega projects. The residential, commercial, and industrial sectors are also witnessing rapid growth, thereby driving up the need for durable and efficient piping solutions.
Local Manufacture of Raw Materials Ensures Market Stability
The availability of essential raw materials such as PVC resin within the country ensures a steady supply chain. The appeal of plastic pipes is further enhanced by their durability, low maintenance demands, and cost-effectiveness.
Sustainability and Water Management Efforts Reinforce Demand
With high water consumption rates, Saudi Arabia’s focus on desalination projects is expected to boost the need for PVC materials, as desalinated water transportation relies on PVC pipes significantly.
Market Participants Responding to National Demand
Key industry players, including Saudi Plastic Products Company Ltd. (SAPPCO) and Saudi Basic Industries Corporation (SABIC), offer a wide range of products that cater to the diverse needs of the market, from various pipe types to applications.
Prospects for the Saudi Plastic Pipes Market
The market is segmented across various categories including type, end-user, and region, presenting a detailed overview of the industry. The push for sustainable and technologically advanced cities such as the planned Neom city project is expected to maintain the upward trend in demand for plastic pipes through to 2028.
Essential Market Insights
- No. of Pages: 84
- Forecast Period: 2023 – 2028
- Estimated Market Value (USD) in 2023: $1.37 Billion
- Forecasted Market Value (USD) by 2028: $3.43 Billion
- Compound Annual Growth Rate: 16.5%
- Regions Covered: Saudi Arabia
Noteworthy Companies in the Report
- Saudi Plastic Products Company Ltd. (SAPPCO)
- Saudi Basic Industries Corporation (SABIC)
- New Products Industries Co Ltd
- Arabian Gulf Manufacturers Ltd
- Al Watania Plastics
- Munir Munif Plastic Factory
- Almona Plastic Product Company Ltd. Co
- Arabian Plastic Manufacturing Company Ltd
- Saudi Plastic Products Company Ltd. (SAPPCO)
- Hepworth