Market Size of Africa Middle East Automotive Glass Fiber Composites Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
MEA Automotive Glass Fiber Composites Market Analysis
The Africa Middle East Automotive automotive glass fiber composites market is expected to register a CAGR of over 4.5%, during the forecast period, 2020 - 2025.
- The major growth drivers of this market are the rise in automotive production and the increasing demand for durable and lightweight materials because of stringent government regulations to reduce greenhouse gas emissions. The future of the global automotive glass fiber composites market looks bright with opportunities in different automobile applications, such as interiors, exteriors, structural assembly, powertrain and engine components, electrical and electronics, and others.
- For a continent with 1 billion inhabitants, Africa only occupies 1% of the global new car sales. Also, 85% of the total new cars are sold in South Africa. The sub-Saharan region where there is a potential for upto 3-4 million vehicles from the existing number of around 425,000 is expected to offer high returns to players who are willing to seriously enter the region. The level of infrastructure is also increasing in Africa, which is likely to aid the automotive market of the region.
- Strategic alliances between car manufacturers, glass fiber, and resin suppliers are the trends that have a direct impact on the dynamics of the automotive composites industry. Within the intermediates type, short fiber thermoplastic (SFT), long fiber thermoplastic (LFT), and continuous fiber thermoplastic (CFT) are the major ones that are used in automotive applications. SFT is expected to be the largest market by value, mainly driven by applications in powertrain and engine components applications, which feature small complex-shaped parts.
MEA Automotive Glass Fiber Composites Industry Segmentation
The Africa Middle East automotive glass fiber composites market report covers the current and upcoming trends with recent technological developments in various market areas by intermediate type, application type. The country-level analysis and market share of significant Glass fiber manufacturing companies across Africa Middle East will be provided in the report.
| Production Type | |
| Hand Layup | |
| Resin Transfer Molding | |
| Vacuum Infusion Processing | |
| Injection Molding | |
| Compression Molding |
| Application Type | |
| Structural Assembly | |
| Power Train Component | |
| Interior | |
| Exterior | |
| Others |
Africa Middle East Automotive Glass Fiber Composites Market Size Summary
The Africa and Middle-East automotive glass fiber composites market is poised for significant growth, driven by the increasing production of vehicles and the demand for lightweight, durable materials. This demand is largely influenced by stringent government regulations aimed at reducing greenhouse gas emissions. The market presents numerous opportunities across various automotive applications, including interiors, exteriors, structural assemblies, and powertrain components. Despite Africa's small share in global car sales, the sub-Saharan region shows potential for substantial growth, with improving infrastructure further supporting the automotive sector. Strategic partnerships between car manufacturers and suppliers of glass fiber and resin are shaping the industry's dynamics, with short fiber thermoplastics expected to dominate due to their application in complex-shaped parts.
Advanced materials like glass fiber composites are becoming integral to modern vehicles, offering benefits such as increased fuel efficiency and enhanced safety. These composites are favored over traditional materials like steel due to their lightweight and corrosion-resistant properties, making them ideal for use in various automotive components. The formation of the Association of African Automotive Manufacturers is expected to provide companies with favorable reforms and policies, encouraging local assembly plants in countries like Nigeria, Kenya, and Ghana. Morocco's strategic trade agreements and Ethiopia's industrialization efforts further highlight the region's growing automotive potential. The market is characterized by fragmentation, with key players engaging in joint ventures and technological advancements to maintain a competitive edge.
Africa Middle East Automotive Glass Fiber Composites Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Production Type
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2.1.1 Hand Layup
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2.1.2 Resin Transfer Molding
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2.1.3 Vacuum Infusion Processing
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2.1.4 Injection Molding
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2.1.5 Compression Molding
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2.2 Application Type
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2.2.1 Structural Assembly
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2.2.2 Power Train Component
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2.2.3 Interior
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2.2.4 Exterior
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2.2.5 Others
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Africa Middle East Automotive Glass Fiber Composites Market Size FAQs
What is the current Africa Middle East Automotive Glass Fiber Composites Market size?
The Africa Middle East Automotive Glass Fiber Composites Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
Who are the key players in Africa Middle East Automotive Glass Fiber Composites Market?
3B-Fiberglass, Base Group, BASF, Gurit and Cytec Industries, Inc. are the major companies operating in the Africa Middle East Automotive Glass Fiber Composites Market.
