Investing in the plastic wood factory project in the Sultanate of Oman represents an investment opportunity during the year 2022, particularly in light of the Sultanate of Oman’s Vision 2040 to advance the national economy, enhance the foundations of the non-oil economy, and strive for a distinguished position among global economies.
What is plastic wood?
Plastic wood is composed of a homogeneous mixture of plastic with natural fibers from wood or agricultural products. Plastic wood combines dual advantages, as the plastic components protect the wood from water and insects, while the wood protects the plastic components from ultraviolet rays. Plastic wood is characterized by its durability, high resistance to water, humidity, and weathering factors. Plastic wood is considered one of the most important products relied upon by the construction sector, as it is used in the production of roofs, tables, doors, windows, and flooring.
The total value of the global plastic wood industry has reached. To 5.84 million US dollars in 2021. Statistical forecasts indicate an annual growth of 12.10% in The plastic wood market is expected to reach a value of 12.99 billion US dollars by the year 2028.
Why the plastic wood factory in the Sultanate of Oman?
Mashroo3k Consultancy Company revealed, through a recent statistic, a notable rise in the construction sector in the Sultanate of Oman, where building permits reached 31,379 in 2020, compared to just 23,780 permits in 2019. This indicates that plastic wood manufacturing projects are gaining increasing interest in the Sultanate of Oman during 2022.
For more details on the latest economic indicators and investment opportunities in the Sultanate of Oman, as well as the main financing entities supporting successful investment projects in the Sultanate of Oman, you can contact the investor service team at Mashroo’3k Consulting.
