The UAE Automotive Composites Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 13% during the forecast period, 2023 – 2031. The growth of the market is attributed to the rising environmental concern, strict regulations on emission control, and increasing use of eco-friendly natural fibers. The large numbers of vehicles are uses conventional fuel technologies including petrol and diesel is anticipated to drive the market.
Composites are the combination of two materials with various chemical and physical properties. Composites are most commonly used for replacing the steel and other heavy materials owing to their higher strength to weight ratio. They are combined to make a material that is specialized to do some job to become lighter, stronger, and resistant to electricity as well as helps to improve the stiffness and strength. It can be used or applied in various situations and improves the properties of their base materials.
Automotive composites have highly been impacted due to covid-19. Lockdown imposed in the country affected the manufacturers of automobiles that play a major role in the downturn of the automotive composites market. There are various activities that also affected the expansion of the automotive composites market such as halt in production, shutdown of manufacturing plants, and disturbance in the supply chain.
Market Trends, Drivers, Restraints, and Opportunities
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Rising demand for fuel efficient and lightweight vehicles is anticipated to fuel the market growth during the forecast period.
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Rapid growth of the automotive industry is major factors spurring the market expansion.
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High manufacturing and processing cost of composites is estimated to hamper the market growth in the coming years.
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Stringent rules and regulations by government acts as major challenge that can impede the market expansion.
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R&D investment and technological advancement in composites are expected to offer significant opportunities for the market players.
Scope of the Report
The report on the UAE automotive composites market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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UAE Automotive Composites Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016
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Forecast Period
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2023–2031
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Segmentation
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Application Types (Powertrain Component, Exterior, Structural Assembly, Interior, and Others), Production Process Types (Compression Molding, Injection Molding, Hand Layup, and Continuous Process), Materials (Thermoplastic Polymer, Glass Fiber, Thermoset Polymer, and Carbon Fiber)
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Country
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UAE
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Mitsubishi Chemical Carbon Fiber and Composites Inc.; Toho Tenex; Hexcel Corp.; Toray Industries Inc.; and SGL Carbon
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Market Segment Insights:
Exterior segment is projected to account for a large market share
Based on application types, the UAE automotive composites market is divided into powertrain component, exterior, structural assembly, interior, and others. The exterior segment is expected to constitute a key share of the market during the forecast period owing to major components of car body including fender, door panels, bumper beam, front end module, and hood are made of composite materials. The use of composite materials ensures long lifecycle, durability, and lowers maintenance cost. However, the interior segment is anticipated to expand at a rapid pace during the forecast period due to rising need for lightweight interior components.
Injection molding segment is projected to hold a key market share
On the basis of production process types, the market is segmented into compression molding, injection molding, hand layup, and continuous process. The injection molding segment is expected to represent a key share of the market in the coming years due to increasing adoption in automotive industry and high operating temperatures. On the other hand, the compression molding segment is anticipated to expand at a rapid pace during the forecast period owing to simpler process and lower tooling costs.
Glass fiber segment is projected to constitute a major market share
In terms of materials, the UAE automotive composites market is segregated into thermoplastic polymer, glass fiber, thermoset polymer, and carbon fiber. The glass fiber segment is expected to account for a key share of the market during the forecast period owing to its superior attributes including flexibility, lightweight, strength, stability, and durability. Glass fiber also helps in resistance of temperature, heat, and moisture. Glass fiber composites are composed of high number of tiny glass fibers that are combined together and held strongly in place of plastic polymer resin.
Segments
The UAE automotive composites market has been segmented on the basis of
Application Types
- Powertrain Component
- Exterior
- Structural Assembly
- Interior
- Others
Production Process Types
- Compression Molding
- Injection Molding
- Hand Layup
- Continuous Process
Materials
- Thermoplastic Polymer
- Glass Fiber
- Thermoset Polymer
- Carbon Fiber
Country
Key Players
- Mitsubishi Chemical Carbon Fiber and Composites Inc.
- Toho Tenex
- Hexcel Corp.
- Toray Industries Inc.
- SGL Carbon
Competitive Landscape
Key players competing in the UAE automotive composites market include Mitsubishi Chemical Carbon Fiber and Composites Inc.; Toho Tenex; Hexcel Corp.; Toray Industries Inc.; and SGL Carbon. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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