Smithers Pira exclusive data shows that the MENA printing market will see an annual cross-segment growth of 9%, to reach $54 billion in 2022.
Sales of industrial packaging in the MENA region is projected to be valued at more than $5 billion by 2024. Sales revenue is expected to increase at a CAGR of 5.2% during the forecast period (2016–2024).
As international trade is projected to remain positive for the next five years, it is evident that there will be a significant demand for industrial packaging products across the MENA region.
The Middle East market for High-density Polyethylene (HDPE) plastics is expected to grow at an above-average rate in the forecast period of 2017 -2022. The region will emerge to be one of the top exporters of HDPE by 2020, according to Mordor Intelligence.
HDPE is the world's third largest commodity plastic resin after polyvinyl chloride (PVC) and polypropylene (PP). It is one of the most widely used plastics in several industrial sectors such as packaging, construction and automotive.