MENA Automotive Composites Material Market | Key players operating in the market include BASF SE, DowDupont Inc., Gurit Holding AG, Magna International Inc.

MENA Automotive Composite Material was valued at US$ 129.9 Million in 2018 and is anticipated to reach US$ 286.1 Million by 2025 displaying reasonable CAGR of 12.40% over the forecast period (2019-2025). The automotive industry of MENA is a key industry sector. The rise in population in the region has increased the demand for automobiles for transportation. Moreover, MEA is an important strategic centre for trade and commerce across the globe, attracting a large pool of foreign investors. In the past few years, the percentage of GHG emissions in the region increased due to lack of government attention. In addition to this, Gulf Cooperation Council (GCC) holds approximately 30% of the world’s oil reservoir, hence exports large portion of its treasure to other countries. During the past few years, it led to the shortage of the oil and gas natural resources in the region. Owing to this, countries such as the UAE, Algeria, Kuwait and Egypt among others have set certain target values for GHG emissions to be achieved in the coming years. Hence the increasing emission standards across the region are propelling the growth of automotive composite materials market in MENA region. However, high installation cost, high cost of the raw materials and recyclability issues are hampering the market.

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“Polymer Matrix Composite is expected to dominate during the analyzed period.”
The MENA automotive composites material market is segmented based on different materials such as Polymer Matrix Composite (PMC), Metal Matrix Composite (MMC), Ceramic Matrix Composite (CMC) and Hybrid Composite. Currently, PMCs are the most popular composite type among the automakers, as they have high flexibility, high insulation, lower density and lighter weight than other composite material types. However, low cost and exceptionally good structural and mechanical properties of hybrid composites are making them an alternative to the single fiber composites. Hence hybrid composites are anticipated to be the fastest growing segment during the forecast period
“Thermoset held the largest market share in 2018 and is expected to dominate the market in 2025.”

The study further bifurcates the PMCs by matrix types, which include thermosets and thermoplastics. wherein thermoset held the largest market share in 2018 and is expected to dominate the market by 2025. However, thermoplastic is expected to register highest growth during the forecast period as they are compact and wireless

“Amongst Manufacturing Process, Injection moulding is projected to hold the largest market share and will dominate the MENA automotive composite material market by 2025.”
MENA automotive composite market is further fragmented across different manufacturing processes. This includes hand lay-up, compression moulding, injection moulding, and resin transfer moulding (RTM). Injection moulding process dominated the market in 2018 and is expected to continue its dominance over the forecast period. On the other hand, RTM will be the fastest growing manufacturing process because of its growing adoption in the auto industry

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“Amongst applications, exterior segment is anticipated to dominate MENA automotive composite material market by 2025.”
Based on several application areas in automobiles, MENA, automotive composite materials market is segmented into interior, exterior, chassis, powertrain & under the hood and structural. Among different application areas, exterior segment dominated the market however a gradual increase in the adoption rate of composite materials for vehicle interiors is expected in the coming years
“Amongst vehicle type, passenger cars hold the major share in MENA automotive composite material market.”

Based on different vehicle types, MENA automotive composite materials market is segmented across performance cars, passenger cars and others (commercial vehicles and others). Passenger cars held the maximum market share in 2018 and they are expected to prevail during the forecast period
“Saudi Arabia represents as one of the largest markets of MENA automotive composite material market.”

To get a better understanding of MENA automotive composite material market, the region has been further segmented by countries, which include the UAE, Saudi Arabia, Algeria, Kuwait, Egypt, Qatar and rest of MENA. Saudi Arabia held the largest market share in 2018 and the country is expected to remain dominant during the forecast period.

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Competitive Landscape-Top 10 Market Players
BASF SE, DowDupont Inc., Gurit Holding AG, Magna International Inc., Mitsubishi Chemical Holdings Corporation, Owens Corning, SGL Group, Solvay SA, Teijin Limited and Toray Industries Inc. are some of the prominent players operating in the Automotive composites market industry. Some of the key players are also expanding their businesses by setting up new plants or increasing their expenditure on R&D to develop cheaper manufacturing methods. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.

Reasons to buy:
• Current and future market size from 2018 to 2025 in terms of value (US$)
• Combined analysis of deep dive secondary research and input from primary research through Key Opinion Leaders of the industry
• Country level details of the overall adoption of automotive composite material in MENA
• A quick review of overall industry performance at a glance
• An In-depth analysis of key industry players
• A detailed analysis of drivers, restraints, key trends and opportunities prevailing in the industry
• Examination of industry attractiveness with the help of Porter’s Five Forces analysis
• The study comprehensively covers the market across different segments and sub-segments of the technology
• Country Covered:UAE, KSA, Algeria, Kuwait, Egypt and Qatar

Customization Options:
UMI understands that you may have your own business need, hence we also provide fully customised solutions to clients. The MENA Automotive Composite Market can be customized to country level or any other market segment.

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