Middle East & Africa Plastics for Composites Market

The Middle East & Africa plastics for composites market is expected to grow from US$ 897.15 million in 2022 to US$ 1,074.63 million by 2028; it is estimated to grow at a CAGR of 3.1% from 2022 to 2028.

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 Strategic Insights

Strategic insights for the Middle East & Africa Plastics for Composites provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Middle East & Africa Plastics for Composites Report Scope

Middle East & Africa Plastics for Composites Regional Insights

The geographic scope of the Middle East & Africa Plastics for Composites refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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.