The Middle East & Africa composites market is expected to grow from US$ 3,373.59 million in 2022 to US$ 4,055.94 million by 2028. It is estimated to grow at a CAGR of 3.1% from 2022 to 2028.
Development of Composites from Biobased Matrices Fuels Middle East & Africa Composites Market
Biobased composites are a new class of materials with an attractive combination of good technical performance and low environmental impact. The replacement of petroleum-derived plastics matrices with bio-based matrices or resins, sourced from carbohydrates, vegetable fats and oils, starch, bacteria, and other biological materials, is an emerging trend in the composites market. Bio-based polymer matrices are environmentally friendly and are the subject of extensive research in various fields. Bio-based matrices are eco-friendly and lightweight, and exhibit long-term sustainability, which drives their use in commercial applications. The easy availability of natural raw materials for the production of bio-based resin is another factor fueling its supply and demand .
Bio-based matrices and biocomposites are employed in several secondary applications in aerospace, automobiles, packaging, electronics, and construction sectors. In the construction industry, biocomposites are generally used for the production of doors, windows, terrace decking, insulation material, and acoustic components. Hence, owing to the rising concern and awareness about the social and environmental impacts of conventional building materials, manufacturers of composites are shifting toward environment-friendly materials, which is expected to fuel the Middle East & Africa composites market growth during the forecast period.
Middle East & Africa Composites Market Overview
The composites market in the Middle East & Africa is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. These countries are rapidly developing their public infrastructure, including airports, hospitals, and administrative buildings. The construction of commercial infrastructure has increased due to the rising tourism industry and the growing immigrant population. In the coming years, the composites market in the Middle East & Africa is expected to grow at a significant rate due to the continuous investment in expansion, research and development activities in the aerospace sector by prominent players in the region. For instance, in 2022, SAMI Composites LLC partnered with The Lockheed Martin Corporation, for development of Composites Manufacturing Center of Excellence in Riyadh with the support of the General Authority for Military Industries (GAMI), to boost Saudi Arabia’s aerospace manufacturing capabilities. These key trends are anticipated to increase the demand for composites in the region, during the forecast period.
Middle East & Africa Composites Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Composites Market Segmentation
The Middle East & Africa composites market is segmented into fiber type, resin type, end use industry, and country.
Based on fiber type, the Middle East & Africa composites market is segmented into carbon fiber composites, glass fiber composites, and others. The glass fiber composites segment held the largest share of the Middle East & Africa composites market in 2022.
Based on resin type, the Middle East & Africa composites market is segmented into thermoset and thermoplastic. The thermoset segment held a larger share of the Middle East & Africa composites market in 2022. The thermoset is segmented into polyester, vinyl ester, epoxy, polyurethane, and others. The Thermoplastic is segmented into polypropylene, polyethylene, polyvinylchloride, polystyrene, polyethylene terephthalate, polycarbonate, and others.
Based on end use industry, the Middle East & Africa composites market is segmented into automotive, aerospace and defense, wind, construction, marine, sporting goods, and others. The automotive segment held the largest share of the Middle East & Africa composites market in 2022.
Based on country, the Middle East & Africa composites market is segmented into South Africa
Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia dominated the share of the Middle East & Africa composites market in 2022.
DuPont de Nemours Inc; Gurit Holding AG; Hexion Inc; Mitsubishi Chemical Holdings Corp; SGL Carbon SE; Solvay SA; and Toray Industries Inc are the leading companies operating in the Middle East & Africa composites market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 3,373.59 Million |
| Market Size by 2028 | US$ 4,055.94 Million |
| CAGR (2022 - 2028) | 3.1% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Fiber Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East & Africa Composites Market is valued at US$ 3,373.59 Million in 2022, it is projected to reach US$ 4,055.94 Million by 2028.
As per our report Middle East & Africa Composites Market, the market size is valued at US$ 3,373.59 Million in 2022, projecting it to reach US$ 4,055.94 Million by 2028. This translates to a CAGR of approximately 3.1% during the forecast period.
The Middle East & Africa Composites Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa Composites Market report:
The Middle East & Africa Composites Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Composites Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Composites Market value chain can benefit from the information contained in a comprehensive market report.
Please tell us your area of interest
(Market Segments/ Regions and Countries/ Companies)
E 1803, Panchshil Towers,
Wagholi, Haveli,
Pune - 412207,
Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For Middle East & Africa Composites Market
