MENA Glass Fiber Reinforced Polymer Market (Material - Vinyl Ester, Polyester, Polyamide, Polyurethane, and Others; End User - Automobile, Marine, Construction, Aerospace and Defense, Energy, and Others): Industry Analysis, Trends, Size, Share and Forecasts to 2028

A recent report ongoing study by Infinium Global Research on the glass fiber reinforced polymer market provides an in-depth analysis of segments and sub-segments in the MENA as well as regional glass fiber reinforced polymer market. The study also highlights the impact of drivers, restraints, and macro indicators on the MENA and regional glass fiber reinforced polymer 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 glass fiber reinforced polymer market. According to the report, the MENA glass fiber reinforced polymer market is projected to grow at a significant CAGR over the forecast period of 2022-2028.

Market Insight

To improve the mechanical properties of compounded polymers, glass fiber is the recommended reinforcement material. The glass fiber is coated with a variety of coupling agents that are compatible with the polymer matrix. Glass fiber reinforced polymer has been manufactured using a variety of techniques and is widely employed in a variety of applications. Glass fiber reinforced polymer, often known as glass fiber reinforced plastic, is made by weaving E-glass fiber and polyester together. The tensile strength of a glass fiber reinforced polymer is usually between 44 and 2358 MPa, while the compressive strength is usually between 140 and 350 M. Glass fiber reinforced polymer has outstanding features such as high strength, flexibility, stiffness, and chemical resistance.

The glass fiber reinforced polymer market is seeing high growth in the MENA region. Its growth can be attributed to several factors that have played a major role. The extensive properties of the glass fiber reinforced polymer have led to its widescale adoption among end user industries. End user industries such as construction, energy, aerospace, and others have started adopting this polymer at a huge commercial level which has increased its demand in the MENA region. Thus, this demand is primarily propelling the growth of the market. The other factor aiding the growth of the market is a rapid rise in the applications of glass fiber reinforced polymer. New applications are emerging as research studies are being undertaken at an increasing level. The growth of the market may be restrained due to the volatile raw material prices. New opportunities are expected to arise, as investments in R&D of glass fiber reinforcement polymer are growing.

Saudi Arabia is expected to be the largest region in the glass fiber reinforced polymer market in the MENA region. Saudi Arabia is one of the wealthiest and most economically prosperous countries in the MENA region. Saudi Arabia is looking to diversify its economy by investing heavily in the tourism industry and reducing its dependence on the oil industry. Though currently, the construction of oil installations is going on full speed and glass fiber reinforced polymer is being used on a large scale in these installations. Furthermore, ambitious project such as the USD 500 billion Future Mega City project offers huge growth opportunities for the market. Recently, Saudi ARAMCO company inaugurated the glass fiber rebar facility of IKK Mateenbar for the use of glass fiber reinforced polymer rebar in their infrastructure projects. Thus, large scale infrastructure and energy projects have attracted the attention of major market players. Israel is expected to be the second largest region in the market owing to its economic prosperity and high demand from end user industries such as marine, aerospace, and construction, and energy.

Segment Covered

The report on the MENA glass fiber reinforced polymer market covers segments such as material, and end user. On the basis of material, the sub-markets include vinyl ester, polyester, polyamide, polyurethane, and others. On the basis of end users, the sub-markets include automobile, marine, construction, aerospace and defense, energy, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as BASF SE, Owens Corning, Jushi Group, Saint Gobain, PPG Industries, Inc., Taishan Fiber glass Inc, and Fiber Technic Ltd., Dextra Group, IKK Mateenbar Limited, and Saudi K-KEM.

Report Highlights:

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 glass fiber reinforced polymer 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.