Press Release: April 14, 2020
Engineering plastics are used for assembling instrument boards, seating materials, airbag retainers, driver train, pedal boxes, sensor lodgings, and front-end modules for the car. Engineering plastics are elite polymers which have amazing physical properties for productive and delayed use. Engineering plastics are broadly utilized in the automotive & transportation industry for applications. The arrangement of these materials is because of their utility in different forms that require higher execution than item materials and expect the building to configuration altered products. Engineering plastics are slowly replacing metal from construction and automotive industries because of their transparency, self-lubrication, the economy in fabricating and decorating. Acrylonitrile gives substance opposition and heat stability; the styrene base offers the simplicity of processability and unbending nature; and butadiene gives quality and sturdiness which makes it appropriate for use in applications including oil and gas, healthcare and automotive industries, chemical and oil, Water supply and Sewage industries.
Saudi Arabia Engineering Plastic Market is driven by factors such as growing end-use industries and a paradigm shift towards engineering plastic from traditional metals and commodity plastics. Also, the blend of high quality and lightweight properties makes engineering plastics reasonable for use in numerous applications and is expected to increase the demand for Engineering Plastic in the upcoming few years. Furthermore, ongoing investments in large scale infrastructure and building projects will increase the consumption of Engineering Plastic in the area. However, price fluctuation and regulatory challenges may hamper the market growth.
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Saudi Arabia has risen as the most lucrative investment destination for plastic businesses. The blasting exercises of the private segment are fuelling extra interest for printing items and advancements. In addition, enormous development of residential and commercial infrastructure, huge real estate development projects, industrial parks and economic cities, etc. – as of now in the pipeline will require the plastic products. Indeed, the per capita consumption of plastics in Saudi Arabia has arrived at the degree of the industrialized capitals of the world. Various government and private funded programs initiated under the corporate strategic investment program, which also supports the growth of engineering plastic in the region. For instance: Jubail and Yanbu projects of Saudi Basic Industries Corp. worth of billion dollars in total. Applications such as oil and gas, healthcare and automotive industries, chemical and oil industries, Water supply and Sewage are major endues for engineering plastics.
Various notable players operating in the market, include BASF, Covestro, Solvay SA, DowDuPont, SABIC, Evonik Industries, Huntsman Corporation, Zamil Plastic., Arabian Plastic Manufacturing Company limited, Saudi Arabian Amiantit Company among others.
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Key questions answered in this research report:
1- At what pace is Saudi Arabia Engineering Plastic market growing? What will be the Saudi Arabia Engineering Plastic market forecast?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in Saudi Arabia Engineering Plastic and market size?
4- Saudi Arabia Engineering Plastic market outlook, application areas and how they are poised to grow?
5- Saudi Arabia Engineering Plastic market overview, industry analysis and scope of study?
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