GCC Composites Market

Composites are made up of two or more kinds of the materials that have distinct physical as well as chemical properties together composed of the finished products. It offers high tensile strength, light in weight, corrosion resistance, flexible designing, high dimensional stability, low thermal conductivity, and high in dielectric strength. Composite materials are widely used in various industries such as transportation, aerospace & defense, wind energy, construction & infrastructure, pipe & tank, marine, and electrical & electronics, among others.

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Rising development of light-weighted materials in the automotive for enhancing fuel efficiency is fuelling the demand of the GCC composites market. Growing government initiatives in the Gulf Cooperation Council (GCC) regarding carbon emission standards, is propelling the growth of the GCC composites market during the forecast period. Moreover, the increasing usage of the composites for making building and construction materials for eco-friendly and sustainable development at the end-users is boosting the market growth. Growing awareness for a sustainable environment and conservation of energy among the millennium to use further in different industries will bolster the GCC composites market. A high presence of oil mining is incorporating a chance of fire accidents in the tanks, pumps, and related accessories in the industry, which will encourage the growth of the GCC composites market. In addition to this, the rising development of the architectural smart cities for digital transformation, easy in convenience, and fire-resistance premises for the safety of the population, is supporting the GCC composites market.

Increasing usage of composites in commercial aircraft as it is light in weight, highly flexible, and corrosion resistance is further paving the way for the growth of the GCC composites market in near future. Furthermore, the rising preference of glass fiber-reinforced composite pipes in the oil & gas industry and water management for expansion of chemical processing as well as providing high-quality drinking water will create demand for GCC composites market. However, the high manufacturing and processing cost is limiting the growth of the GCC composites market. Also, the composites constitute difficulty in recycling which is a key restraint for the GCC composites market.

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Based on fiber type, the glass fiber composites segment is anticipated to dominate the market during the forecast period due its mechanical and physical properties such as high durability, dimensional stability, flexible in nature, and light in weight. In addition to this, glass fiber composites are used in different applications including wind energy, pipes & tanks, electrical & electronics, and construction & infrastructure which will propel the growth of glass fiber composites segment.

Based on manufacturing process, the lay-up process is projected to grow at a higher CAGR in the GCC composites market owing to the unique properties such as lower volumes smooth, highly flexible, and available at a lower price. Moreover, the growing demand from various end-use industries such as marine, energy and aerospace & defense industry is driving the market growth of lay-up process.

Based on end-use industry, the automotive & transportation segment is projected to grow at a faster CAGR over the forecast period due to the various favourable properties of composites for manufacturing efficiencies and design across this end-use industry.

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Based on countries, the United Arab Emirates and Saudi Arabia are expected to grow at a higher CAGR in the GCC composites market due to the rising investments in the architectural projects for providing an aesthetic view in the city and digitally transformation for easy convenience among the consumers. Furthermore, stringent government laws for fire-safety measures and focussed usage of the building fire safety coding is further fuelling the demand for these countries. The United Arab Emirates involves huge investments in the infrastructural projects for fire-resistant, durable, digitally savvy, and user-friendly at the end-users, which will drive the growth of the UAE.

Various notable players operating in the market include Huntsman International LLC, Owens Corning, Toray Industries Inc., Weyerhaeuser Company, Solvay, BASF SE, Henkel AG & Co. KGaA, Gurit, and Notus Composites FZC, among others.

The GCC composites market has been segmented based on fiber type, resin type, manufacturing process, end-use industry, and countries. Based on fiber type, the market is segmented Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites, and Others. Based on resin type, the market is segmented Thermoset Composites and Thermoplastic Composites. The Thermoset Composites segment is further divided into Epoxy Resin, Polyester Resin, Vinyl Ester Resin, Polyurethane Resin and Others. The Thermoplastic Composites segment is further divided into Polycarbonates (PC), Polypropylene (PP), Polyphenylene Sulfide (PPS), Polyetherimide (PEI), Polyetheretherketone (PEEK), Polyamide (PA) and Others. Based on manufacturing process, the market is segmented Lay-Up Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Compression Molding Process, Resin Transfer Molding (RTM) Process and Others. Based on end-use industry, the market is segmented Transportation, Aerospace & Defense, Wind Energy, Construction & Infrastructure, Pipe & Tank, Marine, Electrical & Electronics and Others. Based on countries, the market is segmented into UAE, Saudi Arabia, Oman, Kuwait, and the Rest of GCC.

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Key questions answered in this research report:

• • At what pace is the GCC composites market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the GCC composites market? What will be the impact of drivers and restraints in the future?
  • Which Fiber Type generated maximum revenues in 2019 and identify the most promising Fiber Type during the forecast period?
  • What are the various Resin Types of GCC Composites market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

 

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Fiber Type, By Resin Type, By Manufacturing Process, By End-Use Industry and By Countries
Regional Coverage	GCC
Companies Profiled	Huntsman International LLC, Owens Corning, Toray Industries Inc., Weyerhaeuser Company, Solvay, BASF SE, Henkel AG & Co. KGaA, Gurit, Notus Composites FZC, among others; A total of 9 Companies Covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

 GCC Composites Market by Fiber Type

• • Glass Fiber Composites
  • Carbon Fiber Composites
  • Natural Fiber Composites
  • Others

GCC Composites Market by Resin Type

• • Thermoset Composites
    • Epoxy Resin
    • Polyester Resin
    • Vinyl Ester Resin
    • Polyurethane Resin
    • Others
  • Thermoplastic Composites
    • Polycarbonates (PC)
    • Polypropylene (PP)
    • Polyphenylene Sulfide (PPS)
    • Polyetherimide (PEI)
    • Polyetheretherketone (PEEK)
    • Polyamide (PA)
    • Others

GCC Composites Market by Manufacturing Process

• • Lay-Up Process
  • Filament Winding Process
  • Injection Molding Process
  • Pultrusion Process
  • Compression Molding Process
  • Resin Transfer Molding (RTM) Process
  • Others

GCC Composites Market by End-Use Industry

• • Aerospace & Defense
  • Wind Energy
  • Automotive Transportation
  • Construction & Infrastructure
  • Marine
  • Pipes & Tanks
  • Electrical & Electronics
  • Others

GCC Composites Market by Countries

• • UAE Composites Market All-Up (Option 1: Free 25% Customization)
  • Saudi Arabia Composites Market All-Up (Option 2: Free 25% Customization)
  • Oman Composites Market All-Up (Option 3: Free 25% Customization)
  • Kuwait Composites Market All-Up (Option 4: Free 25% Customization)
  • Rest of GCC Composites Market All-Up (Option 5: Free 25% Customization)

GCC Composites Leading market players (Option 6: As a part of free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Huntsman International LLC
  • Owens Corning
  • Toray Industries Inc.
  • Weyerhaeuser Company
  • Solvay
  • BASF SE
  • Henkel AG & Co. KGaA
  • Gurit
  • Notus Composites FZC