The automotive industry of Middle East and North Africa (MENA) is a key industry sector. The rise in population in the region has increased the demand for automobiles for transportation. Moreover, MENA is an important strategic center for trade and commerce across the globe, attracting a large pool of foreign investors. The growing automotive industry of some of the countries in the region made them worst performing countries (Qatar, United Arab Emirates and Bahrain, among others) in terms of GHG emissions.
Moreover, in the past few years, the percentage of GHG emissions in the region increased due to lack of the government’s attention. In addition to this, Gulf Cooperation Council (GCC) holds approximately 30% of the world’s oil reservoir, hence exports a large portion of its treasure to other countries. During the past few years, it led to the shortage of the oil and gas natural resources in the region. Owing to this, countries such as the UAE, Algeria, Kuwait and Egypt among others targeted to reserve their natural reservoir, these countries also set a limitation on GHG emissions by vehicles. Such rise in environmental concerns within the region, made the automakers to reduce the vehicular weight thereby increase the fuel efficiency.
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For vehicular weight reduction, composite materials have gained immense traction in the automotive industry because of their superior structural and mechanical features over steel and aluminum. Hence the rise in emission standards in the region is driving MENA automotive composite materials market. In addition to this, composite materials are now widely used in electric vehicles to offset the weight increased by the batteries. Hence the flourishing electric vehicle market of MENA is anticipated to fuel the demand for composite materials in the automotive industry. Owing to such factors, MENA automotive composite materials market was estimated at US $116.8 million in 2017 and is anticipated to reach US $254.2 million at a CAGR of 11.8% during the forecast period (2018-2024). However, high installation cost, high cost of the raw materials and recyclability issues are hampering the market within the region.
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MENA automotive composite materials market is segmented based on different materials such as Polymer Matrix Composite (PMC), Metal Matrix Composite (MMC), Ceramic Matrix Composite (CMC) and Hybrid Composite. Due to high flexibility, high insulation, lower density and lighter weight than other composite materials, the adoption of PMCs is more than the other composites. Therefore PMCs held the maximum market share in 2017 and their dominance is expected to prevail during the forecast period. PMC was valued at US $88.6 million in 2017 and are anticipated to reach to US $191.6 million by 2024 at a CAGR of 11.7% during the forecast period (2018-2024). To get a better understanding of the market, PMCs are further segmented by matrix types, which include thermosets and thermoplastics.
In this segment, thermosets are anticipated to be the largest market on the other side
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thermoplastics will be the fastest growing matrix type during the forecast period. Further, due to low cost and high flexural and tensile strength of hybrid composites as compared to single fiber composites, the hybrid composites are anticipated to be the fastest growing composite type during the forecast period. MENA automotive composite materials market was estimated at US $87.6 million in 2014 that reached US $116.8 million in 2017. In addition, the industry will continue to grow rapidly over the forecast period (2018-2024) with a CAGR of 11.8%.
Table of Contents
1. MARKET INTRODUCTION
1.1 Market Definition 13
1.2 Objective of the Study 13
1.3 Limitation 13
1.4 Stakeholders 13
1.5 Currency used in the Report 14
2. RESEARCH METHODOLOGY OR ASSUMPTION 15
2.1 Secondary Data 15
2.1.1 Key Secondary Sources 15
2.2 Primary Data 15
2.2.1 Sampling Techniques & Data Collection Methods 15
2.2.2 Primary Participants 15
3. INDUSTRY PERFORMANCE 16
4. EXECUTIVE SUMMARY 17
5. MARKET OVERVIEW 19
5.1 Introduction 19
5.2 Market Dynamics 20
5.2.1 Market Trends & Drivers 20
5.2.1.1 Stringent Government Regulations on GHG emission 20
5.2.1.2 Increasing Demand of Composites in Hybrid and Electric Vehicles 21
5.2.1.3 Crashworthiness Capability 21
5.2.2 Market Restraints 22
5.2.2.1 High Cost of the Raw Materials 22
5.2.3 Market Opportunities 23
5.2.3.1 Growing Scope of Hybrid Composite Materials 23
5.3 Key Market Indicators (Demand & Supply) 23
5.3.1 Demand & Supply Side Analysis 23
6. BENEFITS OF COMPOSITE MATERIALS 27
7. MARKET INSIGHTS, BY MATERIAL TYPE 29
7.1 General Overview 29
7.2 Polymer Matrix Composite (PMC) 30
7.2.1 Polymer Matrix Composite (PMC), by Matrix Type 31
7.2.2 Thermoset Matrix 32
7.2.3 Thermoplastic Matrix 33
7.3 Metal Matrix Composite (MMC) 34
7.4 Ceramic Matrix Composite (CMC) 35
7.5 Hybrid Composites 36
8. MARKET INSIGHTS, BY MANUFACTURING PROCESS 37
8.1 General Overview 37
8.1.1 Compression Moulding 38
8.2 Hand Lay up (Manual) 39
8.3 Injection Moulding 40
8.4 Resin Transfer Moulding 41
9. MARKET INSIGHTS, BY APPLICATION 43
9.1 General Overview 43
9.2 Interior 45
9.3 Exterior 46
9.4 Chassis, Powertrain and Under the Hood 47
9.5 Structural 48
10. MARKET INSIGHTS, BY VEHICLE TYPE 50
10.1 General Overview 50
10.2 Passenger Cars 51
10.3 Super cars 52
10.4 Others (Light Commercial Vehicles, Buses, Trucks and Others) 53
11. MARKET INSIGHTS, BY COUNTRY 55
11.1 General Overview 55
11.1.1 The United Arab Emirates Automotive Composite Materials Market 56
11.1.1.1 The UAE Automotive Composite Materials Market, by Material Type 57
11.1.1.1.1 The UAE Polymer Matrix Composites Market, by Matrix Type 57
11.1.1.2 The UAE Automotive Composite Market, by Manufacturing Process 58
11.1.1.3 The UAE Automotive Composite Materials Market, by Application 59
11.1.1.4 The UAE Automotive Composite Materials Market, by Vehicle Type 59
11.1.2 Saudi Arabia Automotive Composite Materials Market 60
11.1.2.1 Saudi Arabia Automotive Composite Materials Market, by Material Type 60
11.1.2.1.1 Saudi Arabia Polymer Matrix Composites Market, by Matrix Type 61
11.1.2.2 Saudi Arabia Automotive Composite Market, by Manufacturing Process 62
11.1.2.3 Saudi Arabia Automotive Composite Materials Market, by Application 62
11.1.2.4 Saudi Arabia Automotive Composite Materials Market, by Vehicle Type 63
11.1.3 Algeria Automotive Composite Materials Market 63
11.1.3.1 Algeria Automotive Composite Materials Market, by Material Type 64
11.1.3.1.1 Algeria Polymer Matrix Composites Market, by Matrix Type 64
11.1.3.2 Algeria Automotive Composite Market, by Manufacturing Process 65
11.1.3.3 Algeria Automotive Composite Materials Market, by Application 66
11.1.3.4 Algeria Automotive Composite Materials Market, by Vehicle Type 66
11.1.4 Kuwait Automotive Composite Materials Market 67
11.1.4.1 Kuwait Automotive Composite Materials Market, by Material Type 67
11.1.4.1.1 Kuwait Polymer Matrix Composites Market, by Matrix Type 68
11.1.4.2 Kuwait Automotive Composite Market, by Manufacturing Process 68
11.1.4.3 Kuwait Automotive Composite Materials Market, by Application 69
11.1.4.4 Kuwait Automotive Composite Materials Market, by Vehicle Type 70
11.1.5 Egypt Automotive Composite Materials Market 70
11.1.5.1 Egypt Automotive Composite Materials Market, by Material Type 71
11.1.5.1.1 Egypt Polymer Matrix Composites Market, by Matrix Type 71
11.1.5.2 Egypt Automotive Composite Market, by Manufacturing Process 72
11.1.5.3 Egypt Automotive Composite Materials Market, by Application 73
11.1.5.4 Egypt Automotive Composite Materials Market, by Vehicle Type 73
11.1.6 Qatar Automotive Composite Materials Market 74
11.1.6.1 Qatar Automotive Composite Materials Market, by Material Type 74
11.1.6.1.1 Qatar Polymer Matrix Composites Market, by Matrix Type 75
11.1.6.2 Qatar Automotive Composite Market, by Manufacturing Process 75
11.1.6.3 Qatar Automotive Composite Materials Market, by Application 76
11.1.6.4 Qatar Automoti
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