Functions of Plastic-Based Composites in Wind Energy Sector is fueling the Middle East & Africa Plastics for Composites Market
Rapid developments in material technology have been supporting variations in the structure of wind turbines. Many of these variations were primarily introduced to lower the prices of turbines. Factors such as mechanical equipment, corrosion resistance, fatigue resistance, breaking toughness, rigidity, weight, and appearance of wind turbines significantly impact their operations. Glass fiber-reinforced plastics (GRP) are the most used type of composite material in wind turbine manufacturing. Good mechanical properties and corrosion resistance, high temperature tolerance, simplified manufacturing, and favorable cost are the major benefits conferred by GRPs. These are developing opportunities for the future growth of the plastics for composites market.
Middle East & Africa Plastics for Composites Market Overview
The Middle East & Africa plastics for composites market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The countries in the region are rapidly developing their public infrastructure, including airports, hospitals, and administrative buildings. The construction of commercial infrastructure has upsurged due to the rising tourism industry and the growing immigrant population. In the coming years, the plastics for composites market in the Middle East & Africa is expected to grow due to the continuous rise in spending on research and development activities in the aerospace sector by prominent players in the region. Rapid urbanization has resulted in a shifting preference toward air travel and increased aircraft deliveries, which is anticipated to propel product penetration. Moreover, the aviation industry in the region is fuelled by several drivers, such as, rapid industrialization and growth in disposable income resulting in more passengers opting for air travel. Growing manufacturing of aircraft and aircraft components in the region is expected to drive the composites market in the Middle East & Africa, which is projected to boost the demand for plastics for composites during the forecast period.
Middle East & Africa Plastics for Composites Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Plastics for Composites Market Segmentation
The Middle East & Africa plastics for composites market is segmented based on type, technology, and country. Based on type, the Middle East & Africa plastics for composites market is bifurcated into thermoset and thermoplastic. The thermoset cylinders segment held a larger market share in 2022. Further, thermoset is segmented into polyester, vinyl ester, epoxy, polyurethane, and others. Further, thermoplastic is segmented into polypropylene, polyethylene, polyvinylchloride, polystyrene, polyethylene terephthalate, polycarbonate, and others.
Based on technology, the Middle East & Africa plastics for composites market is segmented into injection molding, compression molding, pultrusion, resin infusion, and others. The others segment held the largest market share in 2022.
Based on country, the Middle East & Africa plastics for composites market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the market share in 2022.
Lanxess AG; Convestro AG; Celanese Corp; Basf SE; Evonik Industries AG; Solvay SA; Saudi Basic Industries Corp; and Arkema SA are the leading companies operating in the Middle East & Africa plastics for composites market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 897.15 Million |
| Market Size by 2028 | US$ 1,074.63 Million |
| CAGR (2022 - 2028) | 3.1% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East & Africa Plastics for Composites Market is valued at US$ 897.15 Million in 2022, it is projected to reach US$ 1,074.63 Million by 2028.
As per our report Middle East & Africa Plastics for Composites Market, the market size is valued at US$ 897.15 Million in 2022, projecting it to reach US$ 1,074.63 Million by 2028. This translates to a CAGR of approximately 3.1% during the forecast period.
The Middle East & Africa Plastics for 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 Plastics for Composites Market report:
The Middle East & Africa Plastics for 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 Plastics for Composites Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Plastics for 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 Plastics for Composites Market
