Israel Plastic Market

Synopsis
The above chart is Israel Plastic Market Outlook (2018 to 2032)

Market Dynamics

the israeli plastic market is seen as one of the most dynamic plastic markets in the middle east region. the market is being driven by technological advancement in the automotive sector and the use of plastics in the medical and pharmaceutical industry. the local plastic industry in israel is characterised by consistent growth in production over the past few years, with a particular focus on specialty applications in medical and pharmaceuticals, building and construction, and electronics. the local plastic industry has benefited from increased demand in these sectors and a shift towards advanced technologies such as injection moulding and polymer modification. this has resulted in new product launches which in turn has expanded the market and created more opportunities for local manufacturing and procurement. the key product categories in the israeli plastic market are engineering plastics, compounding materials, resins, and polymers. the engineering plastics market in israel is dominated by tpc group, who accounts for nearly 60% of the total engineering plastics market. the compounding materials market in israel is seeing increasing trends, with companies like imix group offering innovative applications for performance and specialty grades. resins and polymers have also witnessed increased demand from local companies and startups, aided by an influx of venture capital investment. additionally, the plastic packaging sector has experienced a notable rise in demand due to developments in food processing infrastructure in the country. this has resulted in a surge in demand for packaging products such as plastic containers, films, and carriers. in general, the outlook of the israeli plastic market is strong and is expected to remain steady over the next decade. the growth is expected to be driven by increasing demand from sectors such as medical and pharmaceutical, automotive, consumer goods, and packaging. with a shift towards advanced technologies, the market is likely to witness further growth in the coming years.