A recent
report ongoing study by Infinium Global Research on the fiberglass composites
market provides an in-depth analysis of segments and sub-segments in the MENA as
well as regional fiberglass composites market. The study also highlights the
impact of drivers, restraints, and macro indicators on the MENA and regional
fiberglass composites market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecasts, and dollar values of
the MENA fiberglass composites market. According to the report, the MENA
fiberglass composites market is projected to grow at a significant CAGR over
the forecast period of 2022-2028.
Fiberglass
is a form of fiber reinforced plastic whereas glass fiber is reinforced
plastic. This is the reason perhaps why fiberglass is also known as
glass-reinforced plastic or glass fiber reinforced plastic. The glass fiber is
usually flattened into a sheet, randomly arranged, or woven into a fabric. It
has very fine strands of glass fiber embedded in a matrix. The fibers may be
oriented in different directions to give the appropriate strength to the
composite. Provide long-term resistance to severe chemical and temperature
environments. Can be molded into complex shapes at a relatively low cost. Have
an exceedingly long life span and low maintenance requirements.
Increased
use of fiberglass composites in the automotive industry will propel the growth
of the market during the forecast period. Stringent regulations have been
imposed on the automotive industry to reduce carbon dioxide emissions. This has
encouraged the industry to introduce fuel-efficient lightweight vehicles to
help reduce greenhouse gas emissions. Fiberglass composite is extensively used
as a substitute for aluminum and steel in the automotive industry, in the
manufacturing of lightweight vehicles. An increasing number of wind energy
capacity installations will create a growth opportunity during the forecast
period. The global fossil fuel capacity is on the decline. Hence, it is
imperative to increase the use of renewable energy sources. Wind energy is one
of the most important renewable energy sources. The increasing demand for wind
energy is driving the fiberglass composites market. However, issues in glass wool
recycling will restrain the growth of the market. The major restraint to the
growth of the fiberglass composites market is the recycling of glass wool. Proper
disposable techniques are required to dispose of glass wool material, along
with the mask and protective clothing for the physical safety of the personnel
involved in the disposal process.
In terms of
region, the MENA fiberglass composites market is segmented into Algeria,
Jordan, Qatar, Bahrain, Kuwait, Saudi Arabia, Egypt, Lebanon, Syria, Iran,
Libya, Tunisia, Iraq, Morocco, United Arab Emirates, Israel, Oman, Yemen, and
others. Saudi Arabia holds a major market share, due to the rising
urbanization, and booming manufacturing sector within the region. Moreover, the
rising utilization of fiberglass composites in the automotive industry in the
Middle East and African countries because of their high durability will drive
the expansion of the region. The United Arab Emirates is predicted to dominate
the market during the forecast period because of innovative construction
activities and the advanced automotive sector. Increasing presence and
investment in Research and Development from major players in the United Arab
Emirates will enhance the market growth within the Middle East and North
African region.
The report
on the MENA fiberglass composites market covers segments such as type and application.
On the basis of type, the sub-markets include roving fiberglass, chopped
fiberglass, yarn fiberglass, and others. On the basis of application, the
sub-markets include construction, automotive, and others.
The report
provides profiles of the companies in the market such as Taishan Fiberglass
Inc., PPG Industries Inc., Owens Corning, China Jushi Co., Ltd., Chongqing
Polycomp International Corp., Nippon Electric Glass Co. Ltd., Binani 3B-The
Fiberglass Company, Taiwan Glass Ind. Corp., Johns Manville Corp, and PFG Fiber
Glass Co. Ltd.
The report
provides deep insights into the demand forecasts, market trends, and micro and
macro indicators. In addition, this report provides insights into the factors driving and restraining this market's growth. Moreover, The
IGR-Growth Matrix analysis given in the report brings an insight into the
investment areas that existing or new market players can consider. The report
provides insights into the market using analytical tools such as Porter's five
forces analysis and DRO analysis of the MENA fiberglass composites market.
Moreover, the study highlights current market trends and provides forecasts for
2022-2028. We also have highlighted future trends in the market that will
affect the demand during the forecast period. Moreover, the competitive
analysis given in each regional market brings an insight into the market share
of the leading players.
Please Choose One of them.