The Middle East and Africa extruded plastic market is projected to witness a compound annual growth rate of 3.11% to grow to US$4.348 billion by 2028, from US$3.508 billion in 2021.
Extruded plastic is made by melting and creating high-volume polymeric material in a continuous process. A wide range of plastic-based products are made with the help of this extruded plastic, such as tubes, pipes, sheets, wraps, and various other products. In the Middle East, various government projects will make use of extruded plastic in the coming years. For instance, the Energy Strategy 2050, project Dubai Tourism Strategy and various housing projects under the umbrella of the Dubai government are expected to increase the residential and commercial bandwidth of the country will increase the demand for extruded plastics. Moreover, extruded packaging is used as a substitute for metal as well.
Increasing use of extruded plastic in packaging
Extruded plastic is widely used in the packaging industry. Retail e-commerce sales are increasing in MEA. The e-commerce penetration is increasing rapidly in countries such as Israel and Dubai in the region. The increasing use of packaging is anticipated to increase the use of extruded plastic in the packaging industry. Packaging is a very important part of retail and e-commerce when a product must be shipped from one place to another.
The use of extruded plastic is increasing in the packaging industry, mainly the use of polyethylene (PE) growing in the region for packaging. Changing consumer preference and an increase in demand for smart packaging is anticipated to boost the market growth in the region. PE is used widely for flexibility and sustainability. As per the Dubai Chamber of Commerce and Industry, the retail market in the United Arab Emirates is a US$ 61.0 billion market. The retail market in countries such as Dubai and Abu Dhabi is providing a boost for packaging in the country. In the forecasted period, the growing use of packaging is anticipated to increase the market for extruded packing.
Israel in MEA is one of the major markets.
One key factor contributing to this growth is the expanding industrial applications of extruded plastics. The country has witnessed a surge in demand for plastic products across sectors such as construction, packaging, automotive, and electrical and electronics. The versatility and cost-effectiveness of extruded plastics have made them a preferred choice in these industries, boosting market growth.
Moreover, the increasing demand for extruded plastic products can be attributed to various factors, including population growth, urbanization, and expanding consumer markets. As the population continues to grow and cities become more developed, the demand for extruded plastic products in the construction, packaging, and automotive sectors is expected to rise further, driving market expansion.
An increase in research and development activities is driving the market growth.
Higher R&D spending enables Israeli companies operating in the extruded plastic industry to develop and adopt advanced technologies, improve manufacturing processes, and create innovative plastic products. These technological advancements enhance the competitiveness of Israeli firms in the market and enable them to cater to the evolving demands of various sectors.
Moreover, increased R&D spending contributes to the overall economic growth of Israel, creating a robust business ecosystem. This, in turn, attracts investments, encourages entrepreneurship, and fosters the expansion of the extruded plastic industry. The steady growth in R&D spending as a percentage of GDP demonstrates Israel's long-term commitment to innovation, which positions it as a key player in the Middle East and Africa extruded plastic market, offering technologically advanced solutions and driving industry growth.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2021 | US$3.508 billion |
| Market Size Value in 2028 | US$4.348 billion |
| Growth Rate | CAGR of 3.11% from 2021 to 2028 |
| Base Year | 2021 |
| Forecast Period | 2023 – 2028 |
| Forecast Unit (Value) | USD Billion |
| Segments Covered | Type, End-User Industry, and Country |
| Regions Covered | Israel, Saudi Arabia, UAE, South Africa, Turkey, Others |
| Companies Covered | DuPont Teijin Films, Eaton, PLASTOPIL, Palram Industries Ltd., Rowad, LAGEENTUBES, Gulf Acrylic Industries LLC & Shamal Plastics Industries LLC |
| Customization Scope | Free report customization with purchase |
Market Segmentation: