Middle East & Africa Tow Prepregs Market Key Players and Forecast by 2028

The Middle East & Africa tow prepregs market is expected to grow from US$ 36.89 million in 2020 to US$ 80.31 million by 2028; it is estimated to grow at a CAGR of 10.2% from 2020 to 2028.

The Middle East & Africa includes countries such as South Africa, UAE, Saudi Arabia, and the Rest of the 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 investing large amounts in the building and construction industry.    
 

In case of COVID-19, the Middle East & Africa, especially South Africa, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of tow prepregs manufacturing activities. Downfall in other chemical and materials manufacturing sector has subsequently impacted the demand for tow prepregs during the early months of 2020. Moreover, decline in the overall fabric and resin manufacturing activities has led to discontinuation of tow prepregs manufacturing projects, thereby reducing the demand for tow prepregs. Similar trend was witnessed in other Middle East & African countries such as Turkey, Iran, the UAE, and Saudi Arabia. However, the countries are likely to overcome this drop in demand with the economic activities regaining their pace, especially in the beginning of 2021.
 

With the new advancements and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Middle East & Africa tow prepregs market. The automotive and transportation sector is one of the most dynamic industrial sectors, which are significantly related to the use of advanced technologies across Middle East & Africa. The growing demand for improved materials with environment friendliness and cost-efficiency is among the emerging trends, which have a direct impact on the industry. With the expansion of the automotive and transportation industry, the demand for prepregs is set to rise. Companies such as Ford Motor Co. are deploying the use of prepregs and other materials in order to produce rear suspension knuckle. Hence, with the rise in demand for prepregs, manufacturers have come up with better forms of precursors such as tow prepregs. These fiber precursors are preferred to other traditional materials owing to their properties such as tensile strength, limited curing time, uniformity and consistency, lightweight, and better friction. These properties make them ideal for various applications in the automotive and transportation industry. Moreover, they can ideally be used to suit the dynamic requirements of the processing industry. These prepregs are considered suitable for use in high-pressure type 4 cylinders along with hydrogen fuel cells in the automotive and transportation industry. Further, they are also used in the production of transmission axle, leaf springs, CNG cylinders, and other such parts and components in the automotive and transportation industry.

Middle East & Africa Tow Prepregs Market Segmentation

Middle East & Africa Tow Prepregs Market – By Fiber Type

• Carbon
• Glass
• Others

Middle East & Africa Tow Prepregs Market – By Resin Type

• Epoxy
• Phenolic
• Others

Middle East & Africa Tow Prepregs Market – By End-Use Industry

• Aerospace and Defense
• Automotive and Transportation
• Sports and Recreational
• Oil and Gas
• Others

Middle East & Africa Tow Prepregs Market – By Country

• South Africa
• Saudi Arabia
• UAE
• Rest of Middle East & Africa

Middle East & Africa Tow Prepregs Report Scope