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Gcc Plastic Caps And Closure Market
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Gcc Plastic Caps And Closure Market

Home Packaging Gcc Plastic Caps And Closure Market

GCC Plastic Caps and Closure Market, By Product Type (Screw on Caps, Dispensing Caps); By Container Type (Plastic, Glass); By Raw Material (PP, HDPE, LDPE, Others (PET, PVC)); By Technology (Post Mold TE Band, Compression Molding, Injection Molding); By End Use Sector (Beverages, Pharmaceuticals, Food, Personal & Homecare, Others (Automotive, Chemicals)); By Country (Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Oman), Trend Analysis, Competitive Landscape & Forecast, 2019–2030

  • Published Date: September 2024
  • Report ID: BWC24676
  • Available Format: PDF
  • Page: 220

Report Overview

A spurring demand for packaged goods, thriving food and beverages industry, and increasing adoption of advancements in packaging technology are expected to drive GCC Plastic Caps and Closure Market during the forecast period between 2024 and 2030.

GCC Plastic Caps and Closure Market – Industry Trends & Forecast Report, 2030

GCC Plastic Caps and Closure Market size was estimated at USD 1.42 billion in 2023. During the forecast period between 2024 and 2030, GCC Plastic Caps and Closure Market size is projected to grow at a CAGR of 6.07% reaching a value of USD 2.13 billion by 2030. Prominent drivers of the market include rising food consumption, which has fueled demand for packaged food products that offer longer shelf life and sterility. Companies in the region are innovating packaging solutions to meet these needs, driven by shifting demographics and market dynamics. Nanotechnology in convenience food manufacturing has also enhanced packaging and preservation methods, further increasing the demand for closures. Additionally, the growing prevalence of chronic diseases has spurred demand for pharmaceuticals, creating new opportunities for advanced packaging solutions in the healthcare sector.

GCC Plastic Caps and Closure Market

Plastic Caps and Closures – Overview

Plastic caps and closures are essential components used to seal containers, such as bottles, jars, and tubes, providing protection and preservation of the contents. They ensure product integrity by preventing contamination, leakage, and tampering while maintaining the freshness of the contents, whether for food, beverages, pharmaceuticals, cosmetics, or industrial products. Typically made from materials like polypropylene (PP), polyethylene (PE), or other durable plastics, these closures come in various forms, such as screw caps, dispensing caps, and flip-tops, designed for convenience and ease of use across different industries.

GCC Plastic Caps and Closure Market

Growth Drivers

Surging Demand from Thriving Food and Beverages Industry

The growth in the food and beverages industry is a key driver of GCC Plastic Caps and Closure Market. The rising demand for alcoholic beverages, non-carbonated drinks, and packaged water is significantly contributing to market expansion. Additionally, the increasing use of plastic caps and closures in household commodities like bleaches, insect repellents, and cleaners to enhance shelf life is further propelling market growth. Manufacturers are also turning to bioplastics for cap and closure production due to growing environmental concerns, which is positively impacting the market. Innovations such as anti-counterfeiting caps using holographic and QR+ technologies are expected to boost demand for plastic caps and closures in the coming years. These closures, available in various forms such as flip-tops, disc tops, and nozzle pull caps, offer durability, versatility, and resistance to high temperatures. Widely used in sectors like cosmetics, pharmaceuticals, chemicals, and food and beverages, they protect products from contamination and spoilage while enhancing both appearance and functionality.

Challenges

Fluctuating Raw Material Prices

Fluctuating raw material prices are restraining the growth of the GCC Plastic Caps and Closure Market. Key materials like polypropylene (PP), polyethylene (PE), and other plastics are subject to price volatility due to factors such as changing oil prices, supply chain disruptions, and geopolitical tensions. This unpredictability increases production costs for manufacturers, making it challenging to maintain competitive pricing. Additionally, rising environmental regulations and the demand for sustainable materials are further complicating raw material sourcing, impacting the overall profitability of companies in the plastic caps and closure industry across the GCC region.

Impact of Escalating Geopolitical Tensions on GCC Plastic Caps and Closure Market

Escalating geopolitical tensions among countries across regions, mainly in the Middle East region, could have a significant impact on the growth of GCC Plastic Caps and Closure Market. Disruptions in trade routes, fluctuations in oil prices, and instability in global supply chains may lead to increased raw material costs, particularly for key inputs like polypropylene and polyethylene, which are derived from petrochemicals. These tensions could also affect manufacturing operations and limit access to essential resources, causing delays in production and delivery. Additionally, shifting diplomatic relations may impact foreign investments and partnerships, further slowing market growth. As a result, the overall profitability and competitiveness of the Plastic Caps and Closure Market in the GCC region may be negatively affected.

GCC Plastic Caps and Closure Market

Segmental Coverage

GCC Plastic Caps and Closure Market – By Product Type

By product type, GCC Plastic Caps and Closure Market is divided into Screw on Caps, Dispensing Caps, and other segments. The screw on caps segment is expected to hold a higher share in GCC Plastic Caps and Closure Market by product type over the forecast period, driven by their extensive use across industries such as food and beverage, pharmaceuticals, and personal care. The dominance is attributed to their exceptional sealing capabilities, which preserve product integrity and prolong shelf life. The screw-on caps segment is also favored for its versatility, ensuring secure closures for a wide range of packaging needs, including liquids and perishable goods. As industries prioritize packaging solutions that enhance product preservation and consumer safety, the demand for screw-on caps is expected to continue growing across diverse sectors.

GCC Plastic Caps and Closure Market Demand

GCC Plastic Caps and Closure Market – By Container Type

Based on container type, GCC Plastic Caps and Closure Market is bifurcated into Plastic and Glass segments.

GCC Plastic Caps and Closure Market – By Raw Material

By raw material, GCC Plastic Caps and Closure Market is divided into PP, HDPE, LDPE, and other (PET and PVC) segments. The others segment holds the highest share in GCC Plastic Caps and Closure Market by raw material. The others segment include PET and PVC, with PET segment holding a higher share in GCC Plastic Caps and Closure Market. The dominance is driven by the widespread use of PET in packaging for soft drinks, fruit juices, sports drinks, and oils, as it excels in retaining CO2 and preserving product freshness. The rising health-conscious consumer trend is further fueling demand for healthy beverages, such as fruit and energy drinks, boosting the need for PET packaging. However, fluctuating PET raw material costs pose challenges for manufacturers. Technological advancements, such as lightweight solutions and increased emphasis on sustainability and recyclability, are shaping the future of PET packaging.

GCC Plastic Caps and Closure Market – By Technology

Based on technology, GCC Plastic Caps and Closure Market is divided into Post Mold TE Band, Compression Molding, and Injection Molding segments.

GCC Plastic Caps and Closure Market – By End Use Sector

On the basis of end use sector, GCC Plastic Caps and Closure Market is divided into Beverages, Pharmaceuticals, Food, Personal & Homecare, and others (Automotive and Chemicals) segments. The pharmaceuticals segment holds the highest share in GCC Plastic Caps and Closure Market by end use sector, driven by significant investments in healthcare infrastructure. Saudi Arabia plans to invest over USD 66 billion in healthcare by 2030, increasing private sector participation. Partnerships, such as the collaboration between Saudi Arabia's Ministry of Interior and Roche Products, are expected to expand the market. Pharmaceutical packaging relies heavily on plastic materials like polyethylene (HDPE, LDPE), polypropylene (PP), and PET to ensure product safety and integrity. Additionally, the demand for smart and anti-counterfeiting packaging solutions is rising to address challenges faced by consumers, further boosting the market.

GCC Plastic Caps and Closure Market – By Country

The in-depth research report on the GCC Plastic Caps and Closure Market covers the market in GCC countries: Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, and Oman.

Competitive Landscape

Major players operating in GCC Plastic Caps and Closure Market include Precision Plastic, Middle East Plastic Industries (MEPI), Al-Rajhi Group, Gulf Petrochemical Industries Company (GPIC), National Plastic Industries Company (NPIC), United Plastic Industries (UPI), Oman Plastic Industries Company (OPIC), and Saudi Plastic Industries Company (SPIC). To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2030

Base Year – 2023

Estimated Year – 2024

Forecast Period – 2024–2030

Facts Covered

USD Billion

Market Coverage

Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, Oman

Product/ Service Segmentation

Product Type, Container Type, Raw Material, Technology, End Use Sector, Region

Key Players

Precision Plastic, Middle East Plastic Industries (MEPI), Al-Rajhi Group, Gulf Petrochemical Industries Company (GPIC), National Plastic Industries Company (NPIC), United Plastic Industries (UPI), Oman Plastic Industries Company (OPIC), Saudi Plastic Industries Company (SPIC)

 

By Product Type

  • Screw on Caps

  • Dispensing Caps

  • Others

By Container Type

  • Plastic

  • Glass

By Raw Material

  • PP

  • HDPE

  • LDPE

  • Others (PET, PVC)

By Technology

  • Post Mold TE Band

  • Compression Molding

  • Injection Molding

By End Use Sector

  • Beverages

  • Pharmaceuticals

  • Food

  • Personal & Homecare

By Country

  • Saudi Arabia

  • UAE

  • Qatar

  • Kuwait

  • Bahrain

  • Oman

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. GCC Plastic Caps and Closure Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Rising Demand for Packaged Goods
        2. Growth in the Food and Beverage Industry
        3. Advancements in Packaging Technology
      2. Restraints
        1. Fluctuating Raw Material Prices
        2. Economic Downturns
      3. Opportunities
        1. Increasing Consumer Awareness of Product Safety
        2. Expanding E-commerce Market
      4. Challenges
        1. Environmental Concerns and Regulations
        2. Technological Challenges
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. GCC Plastic Caps and Closure Market: Marketing Strategies
  5. GCC Plastic Caps and Closure Market: Pricing Analysis
  6. GCC Plastic Caps and Closure Market Overview
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product Type
        1. Screw on Caps
        2. Dispensing Caps
        3. Others
      2. By Container Type
        1. Plastic
        2. Glass
      3. By Raw Material
        1. PP
        2. HDPE
        3. LDPE
        4. Others (PET, PVC)
      4. By Technology
        1. Post Mold TE Band
        2. Compression Molding
        3. Injection Molding
      5. By End Use Sector
        1. Beverages
        2. Pharmaceuticals
        3. Food
        4. Personal & Homecare
        5. Others (Automotive, Chemicals)
      6. By Country
        1. Saudi Arabia
        2. UAE
        3. Qatar
        4. Kuwait
        5. Bahrain
        6. Oman
  7. Saudi Arabia Plastic Caps and Closure Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product Type
      2. By Container Type
      3. By Raw Material
      4. By Technology
      5. By End Use Sector
  8. UAE Plastic Caps and Closure Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product Type
      2. By Container Type
      3. By Raw Material
      4. By Technology
      5. By End Use Sector
  9. Qatar Plastic Caps and Closure Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product Type
      2. By Container Type
      3. By Raw Material
      4. By Technology
      5. By End Use Sector
  10. Kuwait Plastic Caps and Closure Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product Type
      2. By Container Type
      3. By Raw Material
      4. By Technology
      5. By End Use Sector
  11. Bahrain Plastic Caps and Closure Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product Type
      2. By Container Type
      3. By Raw Material
      4. By Technology
      5. By End Use Sector
  12. Oman Plastic Caps and Closure Market
    1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
    2. Market Share & Forecast
      1. By Product Type
      2. By Container Type
      3. By Raw Material
      4. By Technology
      5. By End Use Sector
  13. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. GCC Plastic Caps and Closure Company Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  14. Impact of Escalating Geopolitical Tensions on GCC Plastic Caps and Closure Market
  15. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Precision Plastic
    2. Middle East Plastic Industries (MEPI)
    3. Al-Rajhi Group
    4. Gulf Petrochemical Industries Company (GPIC)
    5. National Plastic Industries Company (NPIC)
    6. United Plastic Industries (UPI)
    7. Oman Plastic Industries Company (OPIC)
    8. Saudi Plastic Industries Company (SPIC)
    9. Other Prominent Players
  16. Key Strategic Recommendations
  17. Research Methodology
    1.    Qualitative Research
      1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.    Breakdown of Primary Research Respondents, By Region
    5.    Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

List of Figures

 

Figure 1       GCC Plastic Caps and Closure Segmentation          

Figure 2       GCC Plastic Caps and Closure Market Value Chain Analysis         

Figure 3       Company Market Share Analysis, 2023         

Figure 4       Middle East & Africa Plastic Caps and Closure Market Size, By Value (USD Billion), 2019–2030

Figure 5       Middle East & Africa Plastic Caps and Closure Market Share, By Product Type, By Value, 2019–2030

Figure 6       Middle East & Africa Plastic Caps and Closure Market Share, By Container Type, By Value, 2019–2030

Figure 7       Middle East & Africa Plastic Caps and Closure Market Share, By Raw Material, By Value, 2019–2030

Figure 8       Middle East & Africa Plastic Caps and Closure Market Share, By Technology, By Value, 2019–2030

Figure 9       Middle East & Africa Plastic Caps and Closure Market Share, By End Use Sector , By Value, 2019–2030

Figure 10     Middle East & Africa Plastic Caps and Closure Market Share, By Country, By Value, 2019–2030

Figure 11     Saudi Arabia Plastic Caps and Closure Market Size, By Value (USD Billion), 2019–2030

Figure 12     Saudi Arabia Plastic Caps and Closure Market Share, By Product Type, By Value, 2019–2030

Figure 13     Saudi Arabia Plastic Caps and Closure Market Share, By Container Type, By Value, 2019–2030

Figure 14     Saudi Arabia Plastic Caps and Closure Market Share, By Raw Material, By Value, 2019–2030

Figure 15     Saudi Arabia Plastic Caps and Closure Market Share, By Technology, By Value, 2019–2030

Figure 16     Saudi Arabia Plastic Caps and Closure Market Share, By End Use Sector , By Value, 2019–2030

Figure 17     UAE Plastic Caps and Closure Market Size, By Value (USD Billion), 2019–2030

Figure 18     UAE Plastic Caps and Closure Market Share, By Product Type, By Value, 2019–2030

Figure 19     UAE Plastic Caps and Closure Market Share, By Container Type, By Value, 2019–2030

Figure 20     UAE Plastic Caps and Closure Market Share, By Raw Material, By Value, 2019–2030

Figure 21     UAE Plastic Caps and Closure Market Share, By Technology, By Value, 2019–2030

Figure 22     UAE Plastic Caps and Closure Market Share, By End Use Sector , By Value, 2019–2030

Figure 23     Qatar Plastic Caps and Closure Market Size, By Value (USD Billion), 2019–2030

Figure 24     Qatar Plastic Caps and Closure Market Share, By Product Type, By Value, 2019–2030

Figure 25     Qatar Plastic Caps and Closure Market Share, By Container Type, By Value, 2019–2030

Figure 26     Qatar Plastic Caps and Closure Market Share, By Raw Material, By Value, 2019–2030

Figure 27     Qatar Plastic Caps and Closure Market Share, By Technology, By Value, 2019–2030

Figure 28     Qatar Plastic Caps and Closure Market Share, By End Use Sector , By Value, 2019–2030

Figure 29     Kuwait Plastic Caps and Closure Market Size, By Value (USD Billion), 2019–2030

Figure 30     Kuwait Plastic Caps and Closure Market Share, By Product Type, By Value, 2019–2030

Figure 31     Kuwait Plastic Caps and Closure Market Share, By Container Type, By Value, 2019–2030

Figure 32     Kuwait Plastic Caps and Closure Market Share, By Raw Material, By Value, 2019–2030

Figure 33     Kuwait Plastic Caps and Closure Market Share, By Technology, By Value, 2019–2030

Figure 34     Kuwait Plastic Caps and Closure Market Share, By End Use Sector , By Value, 2019–2030

Figure 35     Bahrain Plastic Caps and Closure Market Size, By Value (USD Billion), 2019–2030

Figure 36     Bahrain Plastic Caps and Closure Market Share, By Product Type, By Value, 2019–2030

Figure 37     Bahrain Plastic Caps and Closure Market Share, By Container Type, By Value, 2019–2030

Figure 38     Bahrain Plastic Caps and Closure Market Share, By Raw Material, By Value, 2019–2030

Figure 39     Bahrain Plastic Caps and Closure Market Share, By Technology, By Value, 2019–2030

Figure 40     Bahrain Plastic Caps and Closure Market Share, By End Use Sector , By Value, 2019–2030

Figure 41     Oman Plastic Caps and Closure Market Size, By Value (USD Billion), 2019–2030

Figure 42     Oman Plastic Caps and Closure Market Share, By Product Type, By Value, 2019–2030

Figure 43     Oman Plastic Caps and Closure Market Share, By Container Type, By Value, 2019–2030

Figure 44     Oman Plastic Caps and Closure Market Share, By Raw Material, By Value, 2019–2030

Figure 45     Oman Plastic Caps and Closure Market Share, By Technology, By Value, 2019–2030

Figure 46     Oman Plastic Caps and Closure Market Share, By End Use Sector , By Value, 2019–2030

 

 

List of Tables

 

Table 1        Middle East & Africa Plastic Caps and Closure Market Size, By Value (USD Billion), 2019–2030

Table 2        Middle East & Africa Plastic Caps and Closure Market Size, By Product Type, By Value, 2019–2030

Table 3        Middle East & Africa Plastic Caps and Closure Market Size, By Container Type, By Value, 2019–2030

Table 4        Middle East & Africa Plastic Caps and Closure Market Size, By Raw Material, By Value, 2019–2030

Table 5        Middle East & Africa Plastic Caps and Closure Market Size, By Technology, By Value, 2019–2030

Table 6        Middle East & Africa Plastic Caps and Closure Market Size, By End Use Sector , By Value, 2019–2030

Table 7        Middle East & Africa Plastic Caps and Closure Market Size, By Country, By Value, 2019–2030

Table 8        Saudi Arabia Plastic Caps and Closure Market Size, By Value (USD Billion), 2019–2030

Table 9        Saudi Arabia Plastic Caps and Closure Market Size, By Product Type, By Value, 2019–2030

Table 10      Saudi Arabia Plastic Caps and Closure Market Size, By Container Type, By Value, 2019–2030

Table 11      Saudi Arabia Plastic Caps and Closure Market Size, By Raw Material, By Value, 2019–2030

Table 12      Saudi Arabia Plastic Caps and Closure Market Size, By Technology, By Value, 2019–2030

Table 13      Saudi Arabia Plastic Caps and Closure Market Size, By End Use Sector , By Value, 2019–2030

Table 14      UAE Plastic Caps and Closure Market Size, By Value (USD Billion), 2019–2030

Table 15      UAE Plastic Caps and Closure Market Size, By Product Type, By Value, 2019–2030

Table 16      UAE Plastic Caps and Closure Market Size, By Container Type, By Value, 2019–2030

Table 17      UAE Plastic Caps and Closure Market Size, By Raw Material, By Value, 2019–2030

Table 18      UAE Plastic Caps and Closure Market Size, By Technology, By Value, 2019–2030

Table 19      UAE Plastic Caps and Closure Market Size, By End Use Sector , By Value, 2019–2030

Table 20      Qatar Plastic Caps and Closure Market Size, By Value (USD Billion), 2019–2030

Table 21      Qatar Plastic Caps and Closure Market Size, By Product Type, By Value, 2019–2030

Table 22      Qatar Plastic Caps and Closure Market Size, By Container Type, By Value, 2019–2030

Table 23      Qatar Plastic Caps and Closure Market Size, By Raw Material, By Value, 2019–2030

Table 24      Qatar Plastic Caps and Closure Market Size, By Technology, By Value, 2019–2030

Table 25      Qatar Plastic Caps and Closure Market Size, By End Use Sector , By Value, 2019–2030

Table 26      Kuwait Plastic Caps and Closure Market Size, By Value (USD Billion), 2019–2030

Table 27      Kuwait Plastic Caps and Closure Market Size, By Product Type, By Value, 2019–2030

Table 28      Kuwait Plastic Caps and Closure Market Size, By Container Type, By Value, 2019–2030

Table 29      Kuwait Plastic Caps and Closure Market Size, By Raw Material, By Value, 2019–2030

Table 30      Kuwait Plastic Caps and Closure Market Size, By Technology, By Value, 2019–2030

Table 31      Kuwait Plastic Caps and Closure Market Size, By End Use Sector , By Value, 2019–2030

Table 32      Bahrain Plastic Caps and Closure Market Size, By Value (USD Billion), 2019–2030

Table 33      Bahrain Plastic Caps and Closure Market Size, By Product Type, By Value, 2019–2030

Table 34      Bahrain Plastic Caps and Closure Market Size, By Container Type, By Value, 2019–2030

Table 35      Bahrain Plastic Caps and Closure Market Size, By Raw Material, By Value, 2019–2030

Table 36      Bahrain Plastic Caps and Closure Market Size, By Technology, By Value, 2019–2030

Table 37      Bahrain Plastic Caps and Closure Market Size, By End Use Sector , By Value, 2019–2030

Table 38      Oman Plastic Caps and Closure Market Size, By Value (USD Billion), 2019–2030

Table 39      Oman Plastic Caps and Closure Market Size, By Product Type, By Value, 2019–2030

Table 40      Oman Plastic Caps and Closure Market Size, By Container Type, By Value, 2019–2030

Table 41      Oman Plastic Caps and Closure Market Size, By Raw Material, By Value, 2019–2030

Table 42      Oman Plastic Caps and Closure Market Size, By Technology, By Value, 2019–2030

Table 43      Oman Plastic Caps and Closure Market Size, By End Use Sector , By Value, 2019–2030

Table 44      Precision Plastic Company Overview

Table 45      Precision Plastic Financial Overview

Table 46      Middle East Plastic Industries (MEPI) Company Overview

Table 47      Middle East Plastic Industries (MEPI) Financial Overview

Table 48      Al-Rajhi Group Company Overview

Table 49      Al-Rajhi Group Financial Overview

Table 50      Gulf Petrochemical Industries Company (GPIC) Company Overview

Table 51      Gulf Petrochemical Industries Company (GPIC) Financial Overview

Table 52      National Plastic Industries Company (NPIC) Company Overview

Table 53      National Plastic Industries Company (NPIC) Financial Overview

Table 54      United Plastic Industries (UPI) Company Overview

Table 55      United Plastic Industries (UPI) Financial Overview

Table 56      Oman Plastic Industries Company (OPIC) Company Overview

Table 57      Oman Plastic Industries Company (OPIC) Financial Overview

Table 58      Saudi Plastic Industries Company (SPIC) Company Overview

Table 59      Saudi Plastic Industries Company (SPIC) Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: GCC Plastic Caps and Closure Market size by value was estimated at USD 1.42 billion in 2023.
Ans: GCC Plastic Caps and Closure Market is expected to grow at CAGR of 6.07% during the forecast period between 2024 and 2030.
Ans: By 2030, GCC Plastic Caps and Closure Market size is forecast to reach a value of USD 2.13 billion.
Ans: The growth of GCC Plastic Caps and Closure Market is primarily driven by the rising demand for packaged goods, growth in the food and beverage industry, and increasing advancements in packaging technology.
Ans: Key players in GCC Plastic Caps and Closure Market include Precision Plastic, Middle East Plastic Industries (MEPI), Al-Rajhi Group, Gulf Petrochemical Industries Company (GPIC), National Plastic Industries Company (NPIC), United Plastic Industries (UPI), Oman Plastic Industries Company (OPIC), and Saudi Plastic Industries Company (SPIC).
Ans: The pharmaceuticals segment is expected to grow at the fastest CAGR in GCC Plastic Caps and Closure Market by end use sector during the forecast period between 2024 and 2030.