According to a new market report published by Lucintel, the future of the glass fiber market in the Middle East region looks good with opportunities in the pipe and tank, construction, transportation, marine and others. The glass fiber market in Middle East region is forecast to grow at a CAGR of 5.5% by value from 2016 to 2021. The major driver for market growth is the rise in demand for glass fiber composites made products, such as pipe and tank, grating, bathtub, and FRP ( fiber reinforced plastic) panels.
Browse 16 market data tables and 74 figures spread through 104 pages and in-depth TOC on “Middle East Glass Fiber Market"
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In this market, pipe and tank, construction, transportation and marine are the major end use industries of glass fiber. Lucintel predicts that the demand for glass fiber in construction application is expected to experience the highest growth rate in the forecast period. Growing demand for corrosion resistance, lightweight, flexibility and durability of FRP products is the major driver for glass fiber in the construction industry.
Within the Middle East glass fiber market pipe and tank is expected to remain as the largest market by value and volume consumption. Growth of oil and gas exploration activities and construction of water supply system is the major driver for glass fiber market for this segment. High temperature and humidity levels coupled with high soil salinity are expected to spur growth for this segment over the forecast period.
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Saudi Arabia is expected to remain the largest market during the forecast period in terms of value and volume, due to growth in end use industries. Saudi Arabia, Egypt, UAE and Iran are expected to show above average growth during the forecast period by virtue of growing pipe and tank, and construction market. Increased investment in large scale infrastructure and industrial projects are the major force that drives the pipe and tank and construction market especially in Saudi Arabia and UAE.
For market expansion, the report suggests new product development, where the unique characteristics of glass fiber can be capitalized. The report further suggests the companies are expanding their capacity for driving growth.
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Emerging trends in the Middle East glass fiber market, which have a direct impact on the dynamics of the industry, are the cost optimization and performance enhancement of high performance glass fibers. Jushi Egypt Fiberglass, Abahsian Fiberglass, Sharico, and Eastern Petrochemical Company are among the major players of glass fiber market in the Middle East region.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the middle east glass fiber market by end use industries and country and has come up with a comprehensive research report, “Growth Opportunities in the Middle East Glass Fiber Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the Middle East glass fiber market through 2021, segmented by end use industries and country as follows:
Middle East glass fiber market by end use industries (Value ($M) and Volume (M lbs) shipment analysis for 2010 – 2021):
Pipe and Tank
Construction
Transportation
Marine
Others
Middle East glass fiber market by country (Value ($M) and Volume (M lbs) shipment analysis for 2010 – 2021):
Saudi Arabia
UAE
Egypt
Iran
Others
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This 110-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/toc/middle_east_glass_fiber_market_2016_2021.aspx or helpdesk@lucintel.com.
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