Middle East and Africa Transportation Composites Market: Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Type, Fiber, and Region

Middle East and Africa Transportation Composites Market Definition:

Transportation Composite materials can provide performance while also meeting efficiency requirements. Transportation components made of thermoset composites have the following advantages: lighter weight, which reduces fuel efficiency. For lighter-weight durability, tensile strength is important.

 

Further, the Middle East and Africa Transportation Composites market is segmented by type, Fiber, and geography. Based on product type, the Middle East and Africa Transportation Composites market is segmented under Thermoset and Thermoplastic. Based on the Fiber, the market is segmented under Glass, Carbon, and Natural. By geography, the market covers the major countries in the Middle East and Africa i.e., South Africa, Nigeria, Saudi Arabia, UAE, Kuwait, Egypt, and the Rest of the Middle East and Africa for each segment, the market sizing and forecasts have been done based on value (in USD Billion).

 

 

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Middle East and Africa Transportation Composites COVID 19 Insights:

In the instance of COVID-19, the Middle East and Africa, particularly South Africa, saw an extraordinary increase in coronavirus cases, prompting the suspension of composite roller production. During the first months of 2020, the decline of various chemical and materials manufacturing industries has had a detrimental influence on the demand for composite rollers. Furthermore, the fall in overall composite materials manufacturing activity has resulted in the cancellation of composite rollers production projects, lowering composite roller demand. Other Middle Eastern and African countries, such as the United Arab Emirates and Saudi Arabia, have seen a similar trend. However, the countries are likely to overcome this reduction in demand as economic activity picks up, particularly in the first half of 2021.

 

 

Middle East and Africa Transportation Composites Market Dynamics:

Opportunities: East Asia continues to dominate the total transportation composites business, with China producing 60% of glass fiber output. However, due to the implementation of strict environmental and industrial laws, the market has been trending downward in recent years. innovation is helping players in the East Asian transportation composites market attain market competitiveness. In China, for example, traditional lay-up production is being phased out. Furthermore, automation is likely to make the East Asian business more competitive.

 

Overall, the East Asian transportation composites market will increasingly rely on technological advancements and product quality improvements, rather than cost-effective labor, resources, and rising manufacturing capacity. sales of light commercial vehicles (LCV) are expected to decline Totally, and fuel economy standards in the United States will be relaxed. However, as OEMs continue to reduce vehicle weight on commercial vehicle platforms, growth possibilities will endure. furthermore, mass reduction is critical for expanding the range of electric vehicles, and the development of lightweight materials will continue in this small but developing area. Despite the US putting a moratorium on fuel economy rules, interest in transportation composites for weight reduction will continue to grow. the market for transportation composites in Europe is likely to stay stable until 2030. The glass fiber material is still the preferred reinforcement material in over 95 % of all composites.

 

Market Growth: The transportation composites market is moderately competitive, with tier-2 and tier-3 companies accounting for roughly 60-65 % of sales. several activities, such as mergers and acquisitions (M&A) and capacity growth to manufacturing lightweight and cost-effective transportation composites, will continue to be crucial to market participants' success stories in the competitive and changing marketplace.

 

Kordsa, a Sabanci Holding subsidiary, has bought Axiom Materials to improve its ability to develop innovative products. Toray market Inc. has stated that its subsidiary, Zoltek Companies Inc., will increase its manufacturing capacity by nearly 50% to 15, 000 tonnes.

 

Solvay has opened two thermoplastic composites innovation centers in Europe and the United States, bolstering its research and development (R&D) capabilities and customer involvement. For the automotive, aerospace, and oil and gas industries, we specialize in high-quality materials. Transportation composites' high production and processing costs are posing substantial hurdles to market players all over the world. aside from high production costs, market growth is likely to be hampered in the coming years by initial capital investment.

 

Owens Corning, Toray Industries, and Teijin Ltd. are all involved in the value chain of the market.

 

Growth In Agricultural Sector: Transportation composites have long been used in the automobile and aircraft industries, but they are also finding their way into modern agriculture. They are a preferred alternative for satisfying the needs of farmers because of their capacity to produce efficiencies in agricultural operations. In comparison to practically any other type of machinery, agricultural equipment such as tractors, harvesters, and threshers must keep up with expanding demand. Every year, these agricultural vehicles are subjected to harsh conditions. In search of a solution, agricultural machinery producers are turning to dimensionally stable transportation composites such as sheet molding compound (SMC), bulk molding compound (BMC), and Structural Thermoset Composites for new products designs. Snow plow hitches, trailer parts, and sprinkler hitches are some of the important components that benefit from these benefits.

 

 

Middle East and Africa Transportation Composites Market Segment Analysis:

By Type,

Thermoset:  Great strength, lightweight, low specific gravity, excellent modulus of elasticity, and high corrosion resistance are just a few of the features of thermoset composites. The better qualities of thermoset composites have contributed to their growing use in a variety of end-use industries, including wind energy, automotive, and building and infrastructure, to name a few. One of the primary factors driving the growth of the thermoset composites market is the increasing need for lightweight and durable alternative materials from the aerospace, automotive, and transportation industries. Fiber type, end-use market, resin type, manufacturing technique, and region have all been used to segment the thermoset composites market. In terms of both value and volume, the wind energy segment accounted for the greatest proportion of the thermoset composites market in 2023.

 

Thermoplastic: Thermoplastic composites, on the other side, are low-cost, non-toxic, and recyclable for a variety of applications while also providing greater strength. thermoplastic polymers, such as PET, polypropylene (PP), and PVC, are used in transportation composites because they have superior impact resistance and the ability to hold their shape than thermosetting resins. Thermoplastics lose their plasticity when they cool, although they can be restored. Reheating them above processing temperatures allows them to restructure and re-melt. Due to the toughness of the matrix material, thermoplastic composites have a higher recycling and damage tolerance. As a result, they have a wide range of applications in industries like construction, automotive, aerospace, and material handling.

 

By Fiber,

The transportation Composites market has three types of fiber Glass, Carbon, and natural.

 

Carbon: Carbon Fiber Reinforced Plastic (CFRP) - The Future's Lightweight Solution

 

One of the most promising lightweight materials for body constructions is carbon fiber reinforced plastic (CRFP). When compared to glass fiber, the material is twice as strong and 30% lighter. CRFP has been utilized in racing cars because of its low overall weight and high strength and rigidity for monocoque frames, which ensures driver safety. Furthermore, because it provides impact resistance, CRFP is an important component in F1 racing cars for all structural components. CRFP can help reduce the bulk of various assemblies and components in automobiles by 50-75 %, improving fuel efficiency and CO2 emissions, or significantly increasing the driving range of battery-powered electric vehicles (EV).

 

 

Natural: The Middle East and Africa Department of Energy (DOE) and the Institute for Advanced Composites Manufacturing Innovation (IACMI) have partnered to develop and validate technology that will reduce the cost of developing high-quality CFRP by about 25% for composite hydrogen or natural gas fuel storage tanks for trucks and cars. Fuel storage tanks add significantly to the cost of automobiles, preventing the use of these clean fuels in transportation in the United States. The National Network for Women's Health Manufacturing Innovation has focused one of its tech domains on compressed gas storage (CGS) tanks, gaining headway in improvements of processes and materials that lead to at-scale deployment of technology in future applications, thanks to IACMI's financing.

 

The Middle East and Africa have a booming market in transportation composites, with a 14.5% market share. there are the highest investments in the pharmaceutical sector, and the Middle East and Africa are two of the most important markets for composites. As the importance of safety and packaging has grown, plastics are increasingly being replaced by composites. Controls in the Middle East and Africa are requiring OEMs to cut CO2 emissions from automobiles, and more regulations on gasoline products are planned in the coming years.

 

The UAE's commercial infrastructure is flourishing, thanks to the influx of high-end projects in recent years. In preparation for major total events, Qatar has also increased its infrastructure market, which has benefited the local wood and plastic composites sector.

 

middle East and Africa continue to dominate the market transportation composites business, with China producing 60% of total glass fiber output. However, due to the implementation of strict environmental and industrial laws, the market has been trending downward in recent years. Innovation is helping players in the Middle East and Africa transportation composites market attain market competitiveness. In China, for example, traditional lay-up production is being phased out. Furthermore, automation is likely to make the East Asian business more competitive. Overall, the Middle East and Africa transportation composites market will increasingly rely on technological advancements and product quality improvements, rather than cost-effective labor, resources, and rising manufacturing capacity.

 

 

Middle East and Africa Transportation Composites Market Key Players Insights:

The market is characterized by the existence of several well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the Europe market, key players in the market, particularly in this region, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Middle East and Africa Transportation Composites market to the stakeholders in the industry. The report provides trends that are most dominant in the Middle East and Africa Transportation Composites market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Middle East and Africa Transportation Composites Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Middle East and Africa Transportation Composites market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Middle East and Africa Transportation Composites market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Middle East and Africa Transportation Composites market.

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Middle East and Africa Transportation Composites market. The report also analyses if the Middle East and Africa Transportation Composites market are easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, and if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Middle East and Africa Transportation Composites market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Middle East and Africa Transportation Composites market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Middle East and Africa Transportation Composites market is aided by legal factors.

 

Middle East and Africa Transportation Composites Market Scope:

 

Middle East and Africa Transportation Composites Market
Market Size in 2023	USD 4.54 Bn.
Market Size in 2030	USD 5.78 Bn.
CAGR (2024-2030)	3.5%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	by Type Thermoset Thermoplastic
	by Fiber Glass Carbon Natural
Country Scope	South Africa GCC Egypt Nigeria Rest of the Middle East and Africa

 

Middle East and Africa Transportation Composites MARKET KEY PLAYERS:  

• Polyplank
• Gruit
• Cytec Industries inc
• 3B-Fiberglass
• Resin Tech Inc