United Arab Emirates Automotive Composites Market by Consumption Volume, Growing Trend and Growth Forecast 2021-2026| Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and Composites Inc

Latest research on United Arab Emirates Automotive Composites Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2021 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the United Arab Emirates Automotive Composites market. This report included a special section on the Impact of COVID19. Also, United Arab Emirates Automotive Composites Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends. The report also gives 360-degree overview of the competitive landscape of the United Arab Emirates Automotive Composites industry.

United Arab Emirates Automotive Composites market is growing at a CAGR of 13% during the forecast period (2021-2026).

The United Arab Emirates Automotive Composites market is highly competitive and consists of a number of major players. Top Companies like Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and Composites Inc, MouldCam Pty Ltd, SGL Carbon, Toho Tenex, Toray Industries, Nippon Sheet Glass Company Limited, Sigmatex, Solvay

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Industry News And Developments:

Not only BMW has adopted CFRP in a mixed-material approach, but its German competitor, Audi, is also using the material to produce the rear wall of the space frame for its A8 luxury sedan. This part provides around 40% of the vehicle’s overall torsional rigidity, making it a suitable candidate for manufacture with CFRP. The part is around 50% lighter in weight than its metallic predecessor.

Scope of the Report

- Presently, composite materials, like thermoplastics and reinforced glass, have drawn the attention of carmakers, making them focus on sourcing better, tensile, and lighter components in the manufacture of automobile units.

- Factors such as increasing demand for lightweight material from the automotive industry and growing focus on fuel economy are expected to be major drivers for the market. However, high costs associated with carbon fiber composites, and glass fiber composites is hindering the growth of the market, as their usage in low-cost vehicles could drastically increase the prices of such vehicles.

- The low recyclability of composites is also a restraint for their penetration in entry-level passenger vehicles. However, collaborations of the OEMs with suppliers (due to rising demand for fuel-efficient vehicles, growing lightweight electrical vehicle segment, and major automobile giants, like BMW and Nissan, trying to replace their existing metal parts with composite fibers) imply the scope and booming opportunity that the market is anticipated to offer over the forecast period.

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Key Market Trends

Growing Demand for Lightweight Materials

The automotive industry has been focusing on vehicle weight for decades as vehicle weight have direct impact on driving dynamics and fuel consumption. Due to the high cost of potential lightweight solutions and consumers limited willingness to pay for weight reduction in automotive, the use of costly lightweight materials has so far been limited.

As governments from around the world are implementing stringent emission regulations and even are planning to set even higher emissions standards in the coming years, the importance of lightweight materials will increase.

In a typical automobile, the use of fibers is 50% by volume, while adding just 10% to the weight. In the United States, regulations mandate that by 2025, the average fuel economy standard must meet 54.5 miles per gallon.

- As per the US Department of Energy (DOE), reducing the weight of vehicles by 10% yields an increase of 6-8% in fuel economy.

UAE Leading the automotive composite Market in Middle-East

The Middle-East automotive composite market is led by UAE followed by Saudi Arabia. The demand for lightweight material is growing rapidly in the region due to the growing automotive industry and emission regulations. For instance, In UAE the automotive industry is expanding rapidly, with a rise in the income level of consumers. In addition, the demand for lighter vehicles has increased with awareness about fuel efficiency and environmental benefits. With the rapid growth in manufacturing capacities in the country, the consumption of carbon fiber composites is expected to increase during the forecast period.

What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: United Arab Emirates Automotive Composites Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market. 

The research includes historic data from 2015 to 2020 and forecasts until 2026 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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