Saudi Arabia PVC Market Analysis by Size, Growth, Demand, Trends, Share & Overview

Due to its cost-effectiveness,?Saudi Arabia PVC Market?is expected to witness impressive growth during the forecast period.?Polyvinyl Chloride, or PVC, is the third most widely used synthetic Polymer after Polyethylene (PE) and Propylene (PP). It is sold out in the market broadly across two forms viz. Rigid PVC and Flexible PVC are among two other types of PVC: Low smoke and Chlorinated PVC. The production process for PVC is relatively energy efficient and utilizes a lower amount of raw material for manufacturing. Industrial manufacturing requires Vinyl Chloride Monomer (VCM) as a significant substrate and is usually produced in the form of mini-sized pellets with additives blended in them. Increasing focus towards sustainable water transportation and underground waste management coupled with Private sector participation towards eco-friendly nation-building practices is driving the growth of Saudi Arabia's PVC market during the forecast period,

Rising Demand for Cost-Effective and Sustainable PVC Pipes

PVC Pipes have been rendering assistance as a preferable underground pipe material for almost 80 years now, thanks to their longevity and lower failure rate than other materials. Durability, low maintenance, and lower installation costs make the pipes more cost-effective and consumer friendly. Considering Sustainability as the paramount factor to ascertain material endurance, PVC leads in the market due to more environmental benefits than conventional materials like Polypropylene and Polyethylene. PVC consumes less carbon, requiring less energy and minimal resources to manufacture. Attributing to the factors above, PVC is widely utilized in a range of piping applications, from the transportation of drinking water over sewage solutions to modernized fire-sprinkler methods. PVC, especially for piping applications, accounts for 80 percent of the market share of the total consumed PVC worldwide.?According to a statement released by Saline Water Conversion Corporation (SWCC), Saudi Arabia has one of the most significant rates of water consumption in the world, with consumption of around 8 million cubic meters per day (2021) and is forecasted to reach 12.3 million cubic meters per day (2040).?As of 2020, more than 60 percent of a country's water comes from desalination, which is projected to grow at a slightly higher pace during the forecast period. These future projections will consequently trigger the demand forecast for PVC-composed materials used in transporting de-saline water, driving the Saudi Arabia PVC Market during the forecast period.

Expanding Sewage Services for Better Waste Liquid Discharge

Being an Oil and Gas major producing country, underground waste management has become the topmost priority for Saudi Arabia because of the prolific amount of waste (estimated to be around 53 million tons per the data released by the International Trade Administration) generated every year.?The government of Saudi Arabia has become more concerned about the treatment of the waste being produced underground. Considering that, they have taken the resolution to strategically invest and commercialize R&D outputs from various research institutions across the country that can specifically represent and rectify the underground waste disposal challenges across the country. As a result, this would need a more Sustainable Piping system to be installed and operated. Hence, demand for PVC will have an upward demand trajectory driving the Saudi Arabia PVC Market during the forecast period.

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Recent Trends & Developments

Key players in Saudi Arabia in the Waste Management sector and emerging E-waste privately funded startup players are moving ahead in accordance with the principles laid out by the Ministry of Environment, Water, & Agriculture (MEWA). Saudi Investment Recycling Company (SIRC), the leading waste management company in the GCC, has built a fully integrated platform that can handle, store, transport, and safely dispose of hazardous wastes via a vast distribution network of pipelines made from materials like PVC and PE. According to the data released by the International Trade Administration, AlQaryan Group has undertaken PVC recycling projects for better usage of PVC when sourced in recycled format from waste collection enterprises.

Market Segmentation

The Saudi Arabia PVC Market is segmented based on Type, Polymer, Application, End User Industry, Company, and regional distribution. The market can be segmented by type: White, Black, Additive, Color, and others. Based on Polymer, the market can be divided into Bottles, Films, Fibers, Foams, and Others. In terms of methods, the market can be divided into Polypropylene (PP), Low-Density Polyethylene (LDPE)/ Linear Low-Density Polyethylene (LLDPE), High-Density Polyethylene (HDPE), Polyvinyl Chloride (PVC), Polyethylene Terephthalate (PET), and Others. Based on the End User Industry, the market is fragmented into Packaging, Building & Construction, Consumer Goods, Automotive, Textile, and Others. Regionally, the market can be split into Scotland, South-East, London, South-West, East-Anglia, Yorkshire & Humberside, and East Midlands.

Market Players

Saudi Basic Industries Corporation, Arabian Plastic Compounds Co. Ltd., Interplast Co. Ltd., ALRajhi Industrial Group, TIB Plastic Industries, Arabian Gulf Manufacturers Ltd., Saudi Plastic Products Company Ltd. (SAPPCO), Al Watania Plastics, New Product Industries Co. Ltd., and Intergulf Ltd. are some of the major market players in the Saudi Arabia PVC Market.