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

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

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GCC PET Packaging Market Size

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

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of GCC Polyethylene Terephthalate (PET) Market with other markets in Chemicals & Materials Industry

Plastics, Polymers, and Elastomers

Adhesives and Sealants

Commodity Chemicals

Water and Wastewater Treatment

Advanced Materials

Construction Chemicals and Materials

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 Market Trends

This section covers the major market trends shaping the GCC Polyethylene Terephthalate Market according to our research experts:

Soaring Demand from the Food and Beverage Industry

  • PET is formed by combining purified terephthalic acid (PTA) or dimethyl terephthalate, and modified ethylene glycol, which makes it high-impact resistant and provides food contact safety.
  • PET resin in the food and beverage industry is commonly used for packaging. The three major packaging applications of PET are as containers (bottles, jars, and tubs), thin-oriented films (bags and snack food wrappers), and semi-rigid sheet for thermoforming (trays and blisters).
  • Mainly, these products include take-out containers, frozen foods, carbonated drinks and juices, ketchup, bottled water, jars, and baked good containers. They are also used in the food industry for clamshells, deli containers, as well as microwave food trays.
  • Owing to the increasing demand from countries, such as Saudi Arabia, the United Arab Emirates, Kuwait, and Qatar, the food and beverage sector in the GCC region is expected to grow strongly, during the forecast period.
  • In Saudi Arabia, the increasing population is one of the factors driving the huge demand for food and beverages, especially in the fast food and café segments.
Polyethylene Terephthalate Market Volume Share

Saudi Arabia to Dominate the Market

  • Being an oil producing economy, from the initial phase itself, the country's interest in other industries was less. However, after the emergence and dominance of the non-OPEC countries, globally, and high volatility of crude oil prices, Saudi Arabia decided to diversify its portfolio to aid the economy grow uniformly.
  • The market's openness and investment opportunities in Saudi Arabia are less, when compared to the other emerging economies. However, the government, in its 10th development plan, is reforming economic policies, with investments in diversified sectors, and is trying to attract private investments in the country, to make it a diversified economy that is not dependent on oil.
  • Owing to the investments from the polyethylene terephthalate manufacturers in the country, the production capacity is expected to increase in the coming years. For instance, recently, on January 2019, Pan-Asia PET Resin (Guangzhou) Co., one of the leading PET bottle suppliers in China had launched a SAR 3.9 billion manufacturing plant in the country, which produce PET and PTA used in the packaging and fabric industries.
  • The packaging industry has been witnessing substantial growth in Saudi Arabia, majorly driven by the increasing food manufacturing and processing and growing online food delivery services.
  • The healthcare industry in Saudi Arabia accounts for the largest expenditure in the Middle Eastern region, and there is an increasing demand for the rise in hospital bed capacity and long-term care centers. The increasing healthcare expenditure in the country, along with the privatization of several public hospitals, is expected to drive the demand for healthcare equipment in the country, which, in turn, is expected to drive the market studied in the coming years.
  • Owing to the increasing demand from the end-user industries, the market studied is likely to grow during the forecast period.
Polyethylene Terephthalate Market Volume Share

GCC PET Packaging Industry Overview

In terms of production capacity, the market studied is highly consolidated with the top two players accounting for a share of more than 65%. The key players include Octal, Pan-Asia Saudi Co. Ltd, SABIC, and JBF RAK.

GCC PET Packaging Market Leaders

  1. OCTAL

  2. SABIC

  3. PAN-ASIA SAUDI CO., LTD

*Disclaimer: Major Players sorted in no particular order

GCC Polyethylene Terephthalate (PET) Market
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GCC PET Packaging Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Report

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Emphasis on Recycling

    2. 4.2 Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Bottles

      2. 5.1.2 Films and Sheets

      3. 5.1.3 Household Containers

      4. 5.1.4 Other Product Types

    2. 5.2 End-user Industry

      1. 5.2.1 Food and Beverage

      2. 5.2.2 Automotive

      3. 5.2.3 Electrical and Electronics

      4. 5.2.4 Healthcare

      5. 5.2.5 Consumer Goods

      6. 5.2.6 Other End-user Industries

    3. 5.3 Geography

      1. 5.3.1 Saudi Arabia

      2. 5.3.2 Kuwait

      3. 5.3.3 United Arab Emirates

      4. 5.3.4 Qatar

      5. 5.3.5 Bahrain

      6. 5.3.6 Oman

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 JBF RAK

      3. 6.4.3 OCTAL

      4. 6.4.4 Pan-Asia Saudi Co. Ltd

      5. 6.4.5 SABIC

    5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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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 PET Packaging Market Research 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.

The report covers the GCC Polyethylene Terephthalate (PET) Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the GCC Polyethylene Terephthalate (PET) Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

GCC Polyethylene Terephthalate Packaging Industry Report

Statistics for the 2024 GCC Polyethylene Terephthalate Packaging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. GCC Polyethylene Terephthalate Packaging analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

GCC Polyethylene Terephthalate Packaging Market Report Snapshots

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