[Online Quarterly Update]Saudi Arabia Bisphenol S demand stood at 0.09 Thousand Tonnes in 2020 and is forecast to reach 0.15 Thousand Tonnes by 2030, growing at a healthy CAGR of 4.66% until 2030. Saudi Arabia is the largest market for BPS in the Gulf Cooperation Council (GCC) region, accounting for around half of the market share. The rising adoption of thermal paper is increasing the demand for Bisphenol S in Saudi Arabia owing to the growing need for packaging across various industries. The demand for solid epoxy resin in Saudi Arabia due to increasing investments made by the key stakeholders in the country’s construction sector is also propelling the Bisphenol S demand in the region. The total spending in the construction sector in Saudi Arabia witnessed a growth rate of more than 7% during 2015-2019, thereby positively influencing the Saudi BPS market during the same period. Saudi Arabia is now seeking to implement the Smart City concept across the country. This idea comes as a part of “Saudi Arabia’s Vision 2030”, which is further forecasted to increase BPS consumption. Besides, expanding demand for Bisphenol S derivatives such as phenolic resins and polyurethanes across different industries are adding to the growth of Saudi Arabia Bisphenol S market. The COVID-19 outbreak resulted in the shutting down of factories for the production of non-essential items, restricted movement of goods and personnel, and economic slowdown, which declined Bisphenol S demand during the forecast period. However, with the rise in commercial and industrialization activities due to ease in lockdown restrictions, the Saudi Arabia Bisphenol S market is set to gain momentum and grow at a significant rate during the forecast period.
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Years Considered for Analysis:
Historical Years: 2015 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2030
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To extract data for the Saudi Arabia Bisphenol S market, the ChemAnalyst team conducts primary research surveys with Bisphenol S manufacturers, suppliers, distributors, wholesalers, and customers, followed by exhaustive secondary research to cross-validate the information being collected through primary research surveys.
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