Middle East & Africa Composites Market Size & Outlook
Middle East & Africa composites market, 2018-2030 (US$M)
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MEA composites market highlights
- The MEA composites market generated a revenue of USD 4,859.9 million in 2022.
- The market is expected to grow at a CAGR of 6.6% from 2023 to 2030.
- In terms of segment, glass fiber others was the largest revenue generating product in 2022.
- Carbon Fiber is the most lucrative product segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2022 | USD 4,859.9 million |
| Market revenue in 2030 | USD 8,126.7 million |
| Growth rate | 6.6% (CAGR from 2022 to 2030) |
| Largest segment | Glass fiber others |
| Fastest growing segment | Carbon Fiber |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Carbon Fiber, Glass Fiber Others |
| Key market players worldwide | Teijin Ltd, Toray Industries Inc, Owens-Corning Inc, PPG Industries Inc, Huntsman Corp, SGL Group, Hexcel Corp, DuPont de Nemours Inc, Compagnie de Saint-Gobain SA, Weyerhaeuser Co, Cytec Industries, Jushi, KINECO, Momentive, Veplas Group |
Other key industry trends
- In terms of revenue, MEA region accounted for 5.2% of the global composites market in 2022.
- 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 81,093.5 million by 2030.
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Composites Market Scope
Composites Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa composites 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 composites market will help companies and investors design strategic landscapes.
Glass fiber others was the largest segment with a revenue share of 55.47% in 2022. Horizon Databook has segmented the Middle East & Africa composites market based on carbon fiber, glass fiber others covering the revenue growth of each sub-segment from 2018 to 2030.
Middle East & Africa composites market is anticipated to grow progressively owing to wide application in construction, transportation, pipe & tanks and aerospace sector. According to Centre for Aviation (CAPA), the Middle East is witnessing the highest growth rate in commercial aerospace industry globally.
The growing construction & infrastructure industry in the Middle East region is projected to boost the demand for composites over the forecast period. In addition, increasing public & private investment for infrastructure development is expected to boost the demand for composites in the coming years.
Growing demand from the automotive sector, rise in defense budgets of various countries, and increase in demand from the electronics industry are the major factors influencing the composites market in the Middle East and Africa.
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Our clientele includes a mix of composites 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 composites market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa composites market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa Composites Market Outlook Share, 2022 & 2030 (US$M)
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