Market Introduction The Middle East & Africa region includes countries such as South Africa, Saudi Arabia, UAE, and rest of Middle East and Africa.The region is expected to witness a rapid increase in commercialization and industrialization, which would further boost the varied industrial sectors.
The government has recently undertaken various steps to shift the focus of the economic growth to other manufacturing sectors including automotive, electrical and other industries.Supported by the government, Dubai has developed industrial hubs in this region.
The key motive of the industrial hub is to attract manufacturers looking to set up new plants.According to the UAE’s Department of Economic Development (DED), the manufacturing industry accounts for 80 percent of Dubai’s non-oil trade, which makes it the second largest contributor to the UAE economy.
The government is looking forward to invest large amounts in electrical industry. Market Overview and Dynamics The bulk molding compound market in MEA is expected to grow from US$ 78.20 million in 2019 to US$ 103.99 million by 2027; it is estimated to grow at a CAGR of 3.8% from 2020 to 2027. BMC (Bulk Molding Compound) are fiber-reinforced polymer composite which are known for their higher mechanical strength, high dimensional stability, excellent electrical properties and many other relative properties. Such properties make them ideal for use in several end use industries such as automotive and transportation, aerospace, building and construction and others. Therefore, the growth in these industries in the region is expected to lead to the growth of the Bulk Molding Compounds (BMC) Market. Demand for BMC is high, and industrialists are eyeing for opportunities to enlarge their business operations with improving economic conditions. BMC promote environment sustainability than other materials such as metals, thermoplastic polymers and concrete and are fully compliant with REACH legislation. COVID 19 has impacted the major countries of MEA.Most of the countries in the region are under lockdown, which is impacting the bulk molding compound market.
This is likely to impact the chemicals and materials industry in the region, mainly due disrupted supply and distribution chains.
Key Market Segments In terms of resin type, the polyester segment accounted for the largest share of the MEA bulk molding compound market.In 2019 In terms of fiber type, glass fiber held the largest market share in 2019.
In terms of application, electrical industry account for the largest share of the MEA bulk molding compound market.
Major Sources and Companies Listed A few major primary and secondary sources referred to for preparing this report on the MEA bulk molding compound market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are ASTAR S.A., Core Molding Technologies, IDI Composites International, Toray TCAC Holding B.V., MENZOLIT, PolyntSpA, SHOWA DENKO K.K., and HGGC, LLC. Reasons to Buy Report Understand the MEA bulk molding compound market landscape and identify segments that are most likely to guarantee a strong returnStay ahead of the race by comprehending the ever-changing competitive market landscape in MEAEfficiently plan mergers and acquisitions, and partnership deals in the MEA bulk molding compound market by identifying market segments with the most promising probable salesTake knowledgeable business decisions from perceptive and comprehensive analysis of performance of various market segmentsObtain market revenue forecast for market by various segments for the period 2019–2027MEA Bulk molding compound Market Segmentation MEA Bulk molding compound Market, by Resin Type PolyesterVinyl ResinOther
MEA Bulk molding compound Market, by Fiber Type Glass FiberCarbon FiberMEA Bulk molding compound Market – by Application Electrical IndustryAutomotive IndustryOthersMEA Bulk molding compound Market – by Country UAESaudi ArabiaSouth AfricaRest of MEACompany Profiles ASTAR S.A.Core Molding TechnologiesIDI Composites InternationalToray TCAC Holding B.V.MENZOLITPolyntSpASHOWA DENKO K.K.HGGC, LLC.
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United Arab Emirates
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