GCC Polyethylene Terephthalate (PET) Market Size (2024 - 2029)

The GCC PET packaging market is anticipated to experience growth, driven by an increasing focus on recycling efforts. Despite challenges posed by fluctuating raw material prices, the market's expansion is supported by the significant demand from end-user industries such as food and beverage and healthcare, particularly in Saudi Arabia. The bottles segment holds a substantial portion of the market and is expected to maintain its leading position throughout the forecast period.

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Market Size of GCC Polyethylene Terephthalate (PET) Industry

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GCC PET Market-Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 4.00 %
Market Concentration High

Major Players

GCC Polyethylene Terephthalate (PET) Market Major Players

*Disclaimer: Major Players sorted in no particular order

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GCC PET Packaging Market Analysis

The polyethylene terephthalate (PET) market (henceforth, referred to as the market studied) in GCC is expected to register a CAGR greater than 4%, during the forecast period. Increasing emphasis on recycling is driving the growth of the market studied. However, fluctuation in raw material prices is expected to restrain the market studied during the forecast period.

  • The bottles segment accounted for a major share of the market studied among the end-user industries currently, and it is expected to continue its dominance during the forecast period.
  • Saudi Arabia dominated the market studied, owing to the high demand from the end-user industries, including food and beverage and healthcare.

GCC PET Packaging Industry Segmentation

The GCC polyethylene terephthalate (PET) market report include:

Product Type
Bottles
Films and Sheets
Household Containers
Other Product Types
End-user Industry
Food and Beverage
Automotive
Electrical and Electronics
Healthcare
Consumer Goods
Other End-user Industries
Geography
Saudi Arabia
Kuwait
United Arab Emirates
Qatar
Bahrain
Oman
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GCC Polyethylene Terephthalate (PET) Market Size Summary

The GCC PET packaging market is poised for significant growth, driven by an increasing focus on recycling and sustainability. The market is characterized by its substantial reliance on the bottles segment, which continues to dominate due to its widespread application in the food and beverage industry. Saudi Arabia emerges as a key player in this market, fueled by robust demand from sectors such as food and beverage and healthcare. The region's expanding food and beverage sector, particularly in countries like Saudi Arabia, the UAE, Kuwait, and Qatar, is a major contributor to the market's growth, supported by the rising population and demand for convenience foods and beverages.

Saudi Arabia's strategic shift towards economic diversification, away from oil dependency, has spurred investments in the PET packaging industry, enhancing production capacity. The government's efforts to attract private investments and reform economic policies are pivotal in this transformation. The healthcare sector's growth, driven by increased expenditure and privatization, further bolsters the demand for PET packaging. The market is highly consolidated, with leading players like Octal, Pan-Asia Saudi Co. Ltd, and SABIC dominating the landscape. Despite challenges such as raw material price fluctuations, the market's outlook remains positive, with continued expansion anticipated in the coming years.

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GCC Polyethylene Terephthalate (PET) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Emphasis on Recycling

    2. 1.2 Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Product Type

      1. 2.1.1 Bottles

      2. 2.1.2 Films and Sheets

      3. 2.1.3 Household Containers

      4. 2.1.4 Other Product Types

    2. 2.2 End-user Industry

      1. 2.2.1 Food and Beverage

      2. 2.2.2 Automotive

      3. 2.2.3 Electrical and Electronics

      4. 2.2.4 Healthcare

      5. 2.2.5 Consumer Goods

      6. 2.2.6 Other End-user Industries

    3. 2.3 Geography

      1. 2.3.1 Saudi Arabia

      2. 2.3.2 Kuwait

      3. 2.3.3 United Arab Emirates

      4. 2.3.4 Qatar

      5. 2.3.5 Bahrain

      6. 2.3.6 Oman

GCC Polyethylene Terephthalate (PET) Market Size FAQs

The GCC Polyethylene Terephthalate (PET) Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

OCTAL, SABIC and PAN-ASIA SAUDI CO., LTD are the major companies operating in the GCC Polyethylene Terephthalate (PET) Market.

GCC Polyethylene Terephthalate Packaging Market Report Snapshots

GCC Pet Packaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)