Middle East & Africa Automotive Plastics Market Size & Outlook
Middle East & Africa automotive plastics market, 2018-2030 (US$M)
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MEA automotive plastics market highlights
- The MEA automotive plastics market generated a revenue of USD 583.1 million in 2023.
- The market is expected to grow at a CAGR of 3.4% from 2024 to 2030.
- In terms of segment, polypropylene (pp) was the largest revenue generating product in 2023.
- Polyvinyl Chloride (PVC) is the most lucrative product segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 583.1 million |
| Market revenue in 2030 | USD 736.0 million |
| Growth rate | 3.4% (CAGR from 2023 to 2030) |
| Largest segment | Polypropylene (pp) |
| Fastest growing segment | Polyvinyl Chloride (PVC) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Acrylonitrile Butadiene Styrene (ABS), Polypropylene (PP), Polyurethane (PU), Polyvinyl Chloride (PVC), Polyethylene (PE), Polycarbonate (PC), Polymethyl Methacrylate (PMMA), Polyamide (PA) |
| Key market players worldwide | Akzo Nobel NV, Basf SE, Covestro AG, Evonik Industries AG, Adient PLC, Magna International Inc, Momentive, SABIC, Dow Inc, Hanwha, Grupo Antolin, Lear Corporation, Owens-Corning Inc, Quadrant Group, Koninklijke DSM NV, Teijin Ltd |
Other key industry trends
- In terms of revenue, MEA region accounted for 1.9% of the global automotive plastics market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 20,959.4 million by 2030.
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Automotive Plastics Market Scope
Automotive Plastics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa automotive plastics 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 plastics market will help companies and investors design strategic landscapes.
Polypropylene (pp) was the largest segment with a revenue share of 32.88% in 2023. Horizon Databook has segmented the Middle East & Africa automotive plastics market based on acrylonitrile butadiene styrene (abs), polypropylene (pp), polyurethane (pu), polyvinyl chloride (pvc), polyethylene (pe), polycarbonate (pc), polymethyl methacrylate (pmma), polyamide (pa) covering the revenue growth of each sub-segment from 2018 to 2030.
The Middle East & Africa automotive plastics market is anticipated to witness significant growth over the forecast period on account of the economic growth of the UAE and Saudi Arabia. In addition, the growing production of automobiles in South Africa is likely to fuel the demand for automotive plastics in this region.
The rising GDP of GCC countries, trading partnerships with GCC countries with leading automotive markets like Germany, rising investment by OEMs, and partnerships by OEMs with the government to develop the industry are projected to propel the growth of the automotive industry in the region, which in turn, is anticipated to boost the demand for automotive plastics over the forecast period.
In October 2023, The Public Investment Fund (PIF) of Saudi Arabia has partnered with Hyundai to build a car manufacturing plant in the country, with the aim of strengthening the local automotive industry. Construction is scheduled to begin in 2024 and production is expected to start in 2026. The collaboration is expected to accelerate the growth of Saudi Arabia's automotive industry.
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Target buyers of Middle East & Africa automotive plastics market databook
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Our clientele includes a mix of automotive plastics 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 plastics market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa automotive plastics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa automotive plastics market
Middle East & Africa Automotive Plastics Market Outlook Share, 2023 & 2030 (US$M)
Middle East & Africa automotive plastics market
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