Market Size of Africa Middle East Automotive Thermoplastic Polymer 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 |
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MEA Automotive Thermoplastic Polymer 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 Thermoplastic Polymer 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 Thermoplastic Polymer Composites Market Size Summary
The Africa and Middle-East automotive thermoplastic polymer composites market is poised for significant growth, driven by the increasing demand for lightweight and durable materials in the automotive sector. This demand is largely influenced by stringent government regulations aimed at reducing greenhouse gas emissions. The market is witnessing a shift towards advanced materials, such as glass fiber composites, which are essential for enhancing fuel efficiency and maintaining vehicle performance. These materials are being increasingly utilized in various automotive applications, including interiors, exteriors, and structural components, due to their advantages over traditional materials like steel, such as corrosion resistance and reduced weight. The strategic alliances between car manufacturers and suppliers of glass fiber and resin are further shaping the dynamics of this market, offering lucrative opportunities for growth.
The automotive market in Africa and the Middle-East is characterized by a burgeoning potential, particularly in the sub-Saharan region, where infrastructure development is on the rise. This region presents a promising opportunity for automotive players, with the potential for significant vehicle sales growth. Countries like Morocco and Ethiopia are emerging as key players in the automotive industry, with Morocco's integration into the global economy through free trade agreements and Ethiopia's state-driven industrialization efforts. The formation of the Association of African Automotive Manufacturers (AAAM) is expected to provide further incentives, such as tax holidays and duty exemptions, to attract automotive companies to establish local assembly plants. These developments, coupled with the increasing interest from global automotive players, are expected to drive the growth of the automotive thermoplastic polymer composites market in the region.
Africa Middle East Automotive Thermoplastic Polymer 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 Thermoplastic Polymer Composites Market Size FAQs
What is the current Africa Middle East Automotive Thermoplastic Polymer Composites Market size?
The Africa Middle East Automotive Thermoplastic Polymer 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 Thermoplastic Polymer Composites Market?
3B-Fiberglass, Base Group, BASF, Gurit and Cytec Industries, Inc. are the major companies operating in the Africa Middle East Automotive Thermoplastic Polymer Composites Market.
Africa Middle East Automotive Thermoplastic Polymer Composites Report Snapshots
- Africa Middle East Automotive Thermoplastic Polymer Composites Market Size
- Africa Middle East Automotive Thermoplastic Polymer Composites Market Share
- Africa Middle East Automotive Thermoplastic Polymer Composites Market Trends
- Africa Middle East Automotive Thermoplastic Polymer Composites Companies
