According to a new market report published by Lucintel, the future of the composites market looks promising with opportunities in the pipes and tanks, construction, transportation, and marine industries. The Middle Eastern and North African (MENA) composites market is expected to decline in 2020 due to the global economic recession led by COVID-19. However, the market will witness recovery in the year 2021, and it is expected to reach an estimated $1.3 billion by 2025 with a CAGR of 1%-3% from 2019 to 2025. The major drivers for this market are growth in demand for composites made products, such as pipe and tank, grating, bathtub, and FRP (fiber reinforced plastic) panels.
To download report brochure, please go to https://www.lucintel.com/mena-composites-market.aspx and click "report brochure" tab from the menu.
In this market, glass fiber and carbon fiber are utilized to manufacture composites parts for various end use industries. Lucintel forecasts that glass fiber will remain the largest fiber type during the forecast period due to low cost compared with carbon fiber and commonly used in pipe and tank, construction, and transportation industries.
Within this market, pipe and tank will remain the largest end use industry due to growth in oil and gas exploration activities and construction of water supply system. Composites for transportation industry are expected to witness the highest growth due to growth in automotive production and increasing demand for lightweight materials.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing glass fiber capacity by major manufacturers in this region and increasing focus on production of high tensile modulus glass fiber roving. Jushi, Shairco, Sabic, Abahsain Fiberglass, and Cam Elyaf are among the major suppliers of the composites market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the Middle Eastern and North African composites market by end use industry, resin type, and fiber type. Lucintel has prepared a comprehensive research report titled, “Growth Opportunities in the Middle Eastern and North African Composites Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst 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 Eastern and North African composites market by end use industry, resin type, and fiber type as follows:
By End use industry (Value ($M) and Volume (M lbs) shipment analysis for 2014 – 2025):
Pipes and tanks
Construction
Transportation
Marine
Others
By Resin type (Value ($M) and Volume (M lbs) shipment analysis for 2014 – 2025):
Polyester composites
Epoxy composites
Vinyl ester composites
PA composites
PP composites
Others
By Fiber type (Value ($M) and Volume (M lbs) shipment analysis for 2014 – 2025):
Glass composites
Carbon composite and others
This 115-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…… or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.