The Arabian Gulf accounts for 9% of the world’s plastics industry. Saudi Arabia accounts for about 72% of GCC production of plastics and its industries. Investing in a plastic housewares factory project in Saudi Arabia. investment opportunities in 2022. Especially in light of the Kingdom of Saudi Arabia’s Vision 2030 to advance the national economy. Strengthening the non-oil economy. and strive to occupy a prominent position among global economies. Saudi Arabia ranks eighth globally in plastics production; it owns 2% of the global polymer volume.
What is a housewares factory?
Household items are consumer items that are characterized by an influx of demand. Like this: plates, cups, and forks. Spoons and baskets. The manufacture of plastic household items is based on the polymerization stage. Then the final product formation stage. According to the latest manufacturing technology. and international quality standards.
According to World Trade Center statistics. In 2021, Saudi Arabia imported about 3.42 billion dollars of plastics and their manufactured products; this figure indicates a large dynamic market. It is noteworthy that the operating expenses of the rubber and plastics industry now exceeds 10.10 billion riyals, while the total revenues of these activities reached 20.14 billion riyals.
The latest statistics from Mashreq indicate that the operating expenses of the rubber and plastics products industry will reach 20.26 billion riyals by 2027. The operating revenues of these activities will rise to SAR 32.47 billion in the same year; the growth rate of expenditures for these activities will be 8%. The revenue growth rate is 5.4%.
Saudi Industrial Sector Indicators
Investments in the Saudi industrial sector are estimated at 1,268,037 million riyals. The number of factories in Saudi Arabia reached 10,293. of which 1,794 factories are under construction. The existing factories employ about 968,090 workers.
The distribution of the number of factories in Saudi Arabia Riyadh accounted for the largest percentage (4128 factories). followed by the Eastern Province (2,248 factories). Then Makkah (1948 factories).
For more details on the latest economic indicators and investment opportunities in Saudi Arabia, click here. The most prominent funding organizations supporting successful investment projects in Saudi Arabia. You can get in touch with the investor service team from Mashrok Consulting.
