MarkNtel Advisors has recently published a research report that delves into the Saudi Arabia Caps & Closures Market Research Report: Forecast (2024-2030). This report aims to improve user comprehension and facilitate informed decision-making by thoroughly examining significant changes, gap analyses, emerging opportunities, trends, industry dynamics, and competitive challenges. Utilizing both qualitative and quantitative data, the report provides a comprehensive overview, offering detailed growth prospects and succinct insights into competitors to familiarize both established businesses and newcomers with the current market scenario.
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Saudi Arabia Caps & Closures Market Insight and Analysis:
The Saudi Arabia Caps & Closures Market is estimated to grow at a CAGR of around 5.2% during the forecast period, i.e., 2024-30
Saudi Arabia Caps & Closures Market Driver:
Pharmaceutical Industrial Expansion Driving Market Growth β Over the years, the prevalence of diseases in Saudi Arabia has drastically increased owing to factors like genetic predisposition & lifestyle changes. Based on the clinical research conducted by the National Institute of Health (NIH), the incidence of hypertension among men is approximately 17.7%, and that among women is about 12.5%. These rising health-related issues are highlighting the importance of medical drugs. As a result, private firms & official authorities are actively disbursing funds to develop the pharmaceutical industry. For instance, in 2023, the Public Investment Fund (PIF) in Saudi Arabia launched Lifera to enable the growth of the local biopharmaceutical sector in Saudi Arabia. These industries depend on caps & different closures to maintain the pressure & quality of the therapeutic drugs stored in bottles & tubes. Hence, the expansion of the pharmaceutical sector in Saudi Arabia to boost local drug manufacturing & enhance healthcare security is driving Saudi Arabia Caps & Closures Market growth.
Moreover, the government of Saudi Arabia would continue to allocate substantial funds to encourage the development of pharmaceutical units in the nation. This would consequently result in boosting the Saudi Arabia Caps & Closure Market during the forecast years.
Saudi Arabia Caps & Closures Industry Segmentation:
By Material-
Plastic- Market Size & Forecast 2019-2030F, USD Million-
Metal- Market Size & Forecast 2019-2030F, USD Million-
Others- Market Size & Forecast 2019-2030F, USD Million-
By Product Type-
Tethered Caps- Market Size & Forecast 2019-2030F, USD Million-
Push/Pull Caps- Market Size & Forecast 2019-2030F, USD Million-
Screw Caps- Market Size & Forecast 2019-2030F, USD Million-
Others- Market Size & Forecast 2019-2030F, USD Million-
By End User-
Food & Beverages- Market Size & Forecast 2019-2030F, USD Million-
Pharmaceuticals- Market Size & Forecast 2019-2030F, USD Million-
Consumer Goods- Market Size & Forecast 2019-2030F, USD Million-
Personal Care & Cosmetics- Market Size & Forecast 2019-2030F, USD Million-
Others- Market Size & Forecast 2019-2030F, USD Million-
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Geographically Analysis:
By Region-
Central
East
West
South
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A thorough examination of the competitive landscape of the market involves a comprehensive analysis of its key competitors. This analysis delves deep into each company’s profile, financial achievements, market presence, potential, Research and Development (R&D) expenditures, recent strategic initiatives in the market, footprint, strengths, weaknesses, and market dominance. The information provided offers a comprehensive overview of the leading market players, including Takween Advanced Industries, Saudi Plastic Factory Co., Al-Amoudi Closures Manufacturing Company, Saudi Basic Industries Corporation (SABIC), Arabian Plastics Industrial Company Limited, ENPI Group, Al Watania Plastics, Al-Jabr Plastics Product Company, Al Suhaimi Holding Company, National Plastic Factory, and others
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