At 2.8% CAGR, the Middle East & Africa Multiaxial Woven Fabrics Market is projected to be worth US$ 45.39 million by 2028, says Business Market Insights

According to Business Market Insights research, the Middle East & Africa multiaxial woven fabrics market was valued at US$ 38.37 million in 2022 and is expected to reach US$ 45.39 million by 2028, registering a CAGR of 2.8% from 2022 to 2028. Growing focus of manufacturers on adopting different strategies and strong growth of composites industry are the critical factors attributed to the Middle East & Africa multiaxial woven fabrics market expansion.

Players operating in the Middle East & Africa multiaxial woven fabrics market are adopting various growth strategies such as investments in research & development activities, partnerships, and mergers & acquisitions. In July 2019, SAERTEX acquired 100 % shares in the Bavarian company TK Industries GmbH. With the acquisition, SAERTEX has expanded its range of heavy-tow carbon fiber multiaxial fabrics. The acquisition of TK Industries will also provide SAERTEX with additional capacity in the short term to meet the ever-increasing demand for carbon fiber fabrics and thus enable improved delivery times for their customers. Moreover, in April 2022, SAERTEX and Terre de Lin collaborated to develop multiaxial fabrics with flax fibers for the marine and sports & leisure segments. The adoption of different growth strategies helps players stand out as strong competitors in the market. Therefore, the growing focus of manufacturers on adopting different strategies is expected to boost the Middle East & Africa multiaxial woven fabrics market growth during the forecast period.

On the contrary, high cost of establishing and operating manufacturing unit hurdles the growth of Middle East & Africa multiaxial woven fabrics market.

Based on type, the Middle East & Africa multiaxial woven fabrics market is segmented into bidirectional fabrics, triaxial fabrics, quadraxial fabrics, and others. The quadraxial fabrics segment held 45.7% share of Middle East & Africa multiaxial woven fabrics market in 2022, amassing US$ 17.52 million. It is projected to garner US$ 20.71 million by 2028 to expand at 2.8% CAGR during 2022–2028.

Based on application, the Middle East & Africa multiaxial woven fabrics market is segmented into construction, industrial, military, consumer goods, and others. The industrial segment held 58.9% share of Middle East & Africa multiaxial woven fabrics market in 2022, amassing US$ 22.59 million. It is projected to garner US$ 27.00 million by 2028 to expand at 3.0% CAGR during 2022–2028.

Based on country, the Middle East & Africa multiaxial woven fabrics market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 32.5% share of Middle East & Africa multiaxial woven fabrics market in 2022. It was assessed at US$ 12.45 million in 2022 and is likely to hit US$ 14.76 million by 2028, exhibiting a CAGR of 2.9% during the forecast period.

Key players profiles in the Middle East & Africa multiaxial woven fabrics market report 3D Weaving SaRL; Albany International Corp; Parabeam BV; SGL Carbon SE; and Sigmatex (UK) Ltd, among others.

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