Market Size of Middle East Polyethylene Industry
| 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
*Disclaimer: Major Players sorted in no particular order |
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Middle East Polyethylene Market Analysis
The Middle Eastern polyethene market is anticipated to register a CAGR of greater than 4% during the forecast period. The COVID-19 pandemic had a negative impact on the market studied as demand from industries like automotive, electrical and electronics, and consumer goods witnessed a downfall. Crude oil prices fell due to a drop in demand and excess supply. Polyethene, on the other hand, is expected to be in high demand from the healthcare and packaging industries. Despite environmental worries about plastics, the market will continue to develop because these materials are used practically in all everyday items. Currently, the Middle Eastern polyethene market is recovered from the pandemic and is growing significantly.
- Over the short term, the increasing demand for polyethene from a diverse range of end-use industries, including automotive, electrical, electronics, food and beverage, and consumer goods, has driven the market's growth.
- However, the availability of substitutes such as polypropylene and polyethene terephthalate products is limiting product adoption and is expected to hamper market growth over the forecast period.
- Nevertheless, the enhanced properties of polyethylene are promoting its applications in fashion clothes, sports goods, toys, and others.
