The automotive market has two major
distinct sectors, the large-volume segment and the specialist field introducing
the modified or complete vehicles in the small numbers. The challenges of every
are dissimilar and this is replicated in the method car produces method the
usage of composites. The foremost benefits composites suggest the automotive
applications are in the price deduction, weight deduction and recyclability.
The Composites suggest several structural and weight benefits over the
traditional steel and injection moulded automotive parts.
In addition, the potential players in
the automotive composite material market are playing an important role for
increasing the application, decreasing the prices of the good and increasing
the requirement for the automotive composite material which further benefitted
for generating the high amount of revenue.
According to the report analysis, ‘MENA
Market Insights on Automotive Composite Materials, 2018-2024: Emphasis on
Material Type (Polymer Matrix Composites, Metal Matrix Composites, Ceramic
Matrix Composites and Hybrid Composites), Manufacturing Process (Hand Lay up,
Compression Molding, Injection Molding, Resin Transfer Molding)’ states
that in the MENA market insights on automotive composite material, there are
several key players which recently functioning more positively for leading the
fastest market growth and registering the high value of market share during the
short duration while effectively increase in the need of the composites among
the hybrid and electric vehicles, enormously decreasing the price of raw
material and increasing the scope of hybrid composite materials includes BASF SE,
DowDuPont Inc., Gurit Holding AG, Magna International Inc., Mitsubishi Chemical
Holdings Corporation, Owens Corning, SGL Group, Solvay SA, Teijin Limited,
Toray Industries Inc. and several others.
Additionally based on the
applications, among the numerous application areas, exterior segment registered
the market. However, a gradual lead in the adoption rate of composite materials
for vehicle interiors is estimated in the coming years. Not only has this, on
the basis of vehicle type, this sector involves the performance cars, passenger
cars and several other (commercial vehicles and others). In 2017, Passenger
cars controlled the determined market share and they are anticipated to
overcome during the forecast period.
Sideways, based on the country, the
Saudi Arabia controlled the largest market share in 2017 and the country is
estimated to remain dominant during the review period. Owing to the augmented
percentage of GHG emissions in the region owing to the nonexistence of
government attention.
In the terms of revenue, the
Automotive Composite Material market in Middle East and North Africa Market
economy is predicted to increase rapidly. Increasing emission standards in
several economies across the region are boosting the growth of this market in
MENA. However, high cost of the raw materials and recyclability issues are
restricting the market growth.
Furthermore, on the basis of material
type, the major widespread composite type among the automakers is PMC, as they
have extraordinary flexibility, high insulation, lower density and lighter
weight than other composite material varieties. The PMCs are the most common
composite type among the automakers, as they have high elasticity, high
insulation, subordinate density and lighter weight than many other composite
material types. Therefore, in the near years, it is anticipated that the MENA
insights on the automotive composite material will increase more positively
over the coming years.
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