Emphasis on Applications (Transport, Electronics, Construction, Sport and Leisure and Others); Resin Type (Thermoset and Thermoplastic); and Country
The Mena Glass Fiber Reinforced Polymer Market was valued at USD 1356.96 Million and is expected to grow at a strong CAGR of around 4.3% during the forecast period (2023-2030). Owing to rising construction of bridges, buildings and industries.
Glass fiber reinforced polymer (GFRP) is a composite material made of a polymer matrix reinforced with glass fibers. The polymer matrix, usually epoxy or polyester resin, provides the structure and binds the fibers together, while the glass fibers provide strength and stiffness. GFRP is known for its high strength-to-weight ratio, corrosion resistance, and durability, making it suitable for various applications such as construction, automotive parts, aerospace components, and marine structures.
For instance, it is estimated that the country UAE almost double its power generation capacity from 82 GW in 2018 to 160 GW by 2040. To achieve this goal, the government will invest approximately USD 5 billion in generation and USD 4 billion in distribution and transmission annually.
This section discusses the key market trends that are influencing the various segments of the Glass Fiber Reinforced Polymer Market as identified by our team of research experts.
Construction Transforming Industry
The construction industry is experiencing a transformative shift towards the adoption of glass fiber reinforced polymer (GFRP) as a substitute for traditional materials like steel and concrete. GFRP’s high strength-to-weight ratio, low density, and resistance to corrosion make it an ideal choice for a wide range of construction applications, including reinforcing bars, structural panels, and facades. Architects and engineers are increasingly leveraging GFRP’s flexibility to create innovative designs and structures that were previously not feasible with conventional materials. Furthermore, GFRP’s lightweight nature facilitates easier transportation and installation, resulting in reduced construction time and costs. As sustainability and resilience become paramount concerns in the construction sector, GFRP’s recyclability and durability position it as a material of choice for future infrastructure projects.
UAE is Expected to Grow with Significant CAGR During Forecast Period
The United Arab Emirates (UAE) stands at the forefront of adopting glass fiber reinforced polymer (GFRP) across diverse industries, spurred by its commitment to innovation and sustainable development. In the construction sector, where iconic projects like the Burj Khalifa and Palm Jumeirah have set global benchmarks, GFRP finds increasing utilization for its lightweight attributes and remarkable durability. GFRP’s high strength-to-weight ratio makes it an ideal choice for skyscrapers, bridges, and infrastructure projects, aligning perfectly with the UAE’s ambition to create resilient, futuristic urban landscapes. Moreover, with the upcoming Expo 2020 Dubai and the country’s emphasis on sustainable urban planning exemplified by initiatives like Masdar City, the demand for GFRP in architectural facades, structural reinforcements, and energy-efficient solutions is experiencing exponential growth.
Glass Fiber Reinforced Polymer Industry Overview
The glass fiber reinforced polymer market is competitive and fragmented, with the presence of several MENA and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are BASF SE, Owens Corning, Jushi Group, Saint Gobain, PPG Industries, Inc., CTG Group, Fiber Technic Ltd., Dextra Group, IKK Mateenbar Limited, Saudi K-KEM.
Reasons to buy this report:
Customization Options:
The Mena Glass Fiber Reinforced Polymer Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Market Key Insights
4. Market Synopsis
5. Executive Summary
6. Mena Glass Fiber Reinforced Polymer Market Revenue, 2020-2030f
7. Market Insights By Applications
8. Market Insights By Resin Type
9. Market Insights By Country
10. Mena Glass Fiber Reinforced Polymer Market Dynamics
11. Mena Glass Fiber Reinforced Polymer Market Opportunities
12. Mena Glass Fiber Reinforced Polymer Market Trends
13. Demand And Supply-side Analysis
14. Value Chain Analysis
15. Competitive Scenario
16. Company Profiled
17. Disclaimer
Analyzing the historical market, estimating the current market, and forecasting the future market of the MENA glass fiber reinforced polymer market were the three major steps undertaken to create and analyze the adoption of glass fiber reinforced polymer in major regions in MENA. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the MENA glass fiber reinforced polymer market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the glass fiber reinforced polymer market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the glass fiber reinforced polymer market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as applications and resin type. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the glass fiber reinforced polymer market. Further, we conducted factor analysis using dependent and independent variables such as applications and resin type of the glass fiber reinforced polymer market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the glass fiber reinforced polymer market sector across the globe.
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the MENA glass fiber reinforced polymer market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets MENA. The research methodology adopted to estimate the market size encompasses:
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the MENA glass fiber reinforced polymer market. data was split into several segments & sub-segments post studying various parameters and trends in the areas of the applications and resin type in the MENA glass fiber reinforced polymer market.
The current & future market trends of the MENA glass fiber reinforced polymer market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the current market size and growth potential of the glass fiber reinforced polymer market?
Q2: What are the driving factors for the growth of the glass fiber reinforced polymer market?
Q3: Which segment has the largest share of the glass fiber reinforced polymer market by resin type?
Q4: Which region will dominate the glass fiber reinforced polymer market?
Customers who bought this item also bought
