Middle East & Africa Automotive Lightweight Material Market Size & Outlook
Middle East & Africa automotive lightweight material market, 2018-2030 (US$M)
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MEA automotive lightweight material market highlights
- The MEA automotive lightweight material market generated a revenue of USD 2,946.9 million in 2022.
- The market is expected to grow at a CAGR of 2.9% from 2023 to 2030.
- In terms of segment, composites was the largest revenue generating product in 2022.
- Plastics is the most lucrative product segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2022 | USD 2,946.9 million |
| Market revenue in 2030 | USD 3,702.4 million |
| Growth rate | 2.9% (CAGR from 2022 to 2030) |
| Largest segment | Composites |
| Fastest growing segment | Plastics |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Metals, Composites, Plastics, Elastomers |
| Key market players worldwide | Basf SE, Toray Industries Inc, LyondellBasell Industries NV Class A, Novelis, ArcelorMittal SA Depository Receipt, Alcon Inc, Owens-Corning Inc, Stratasys Ltd, Tata Steel Ltd GDR - 144A, POSCO Holdings Inc ADR |
Other key industry trends
- In terms of revenue, MEA region accounted for 3.4% of the global automotive lightweight material market in 2022.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- North America is the fastest growing regional market and is projected to reach USD 34,808.2 million by 2030.
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Automotive Lightweight Material Market Scope
Automotive Lightweight Material Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa automotive lightweight material market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to automotive lightweight material market will help companies and investors design strategic landscapes.
Composites was the largest segment with a revenue share of 69.3% in 2024. Horizon Databook has segmented the Middle East & Africa automotive lightweight material market based on metals, composites, plastics, elastomers covering the revenue growth of each sub-segment from 2018 to 2030.
The automotive industry in the Middle East & Africa region is experiencing significant growth over the past few years, owing to high disposable income, growing population, and infrastructure development in developed GCC countries and developing countries in Africa such as South Africa, Egypt, and Nigeria.
The growth in car sales in GCC countries in 2019, is expected to drive the demand for automotive lightweight materials. For instance, the annual vehicle sales in 2019 increased by 28.80% as compared to 2018, whereas it increased by 10.24% in Kuwait. However, the sales dropped slightly in Qatar and UAE, thus limiting the market growth.
Furthermore, the market growth in African countries is also expected to low, owing to instability in economic systems.
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Our clientele includes a mix of automotive lightweight material market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa automotive lightweight material market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa automotive lightweight material market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa Automotive Lightweight Material Market Outlook Share, 2024 & 2030 (US$M)
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