< Key Hightlight >

MARKET OUTLOOK

Triton Market Research’s report on the prepreg market in the Middle East and Africa has determined the industry to rise with 9.25% of CAGR over the forecast duration 2021-2028. Turkey, Saudi Arabia, South Africa, the United Arab Emirates, and Rest of Middle East & Africa constitute the market in this region.

The automotive industry in the UAE is witnessing growth in the sale of vehicles, and this trend is expected to continue further in the near future. The country is the second-largest automotive market in GCC, and passenger cars here account for nearly 80% of this market.

Further, the government has planned to develop a new automotive city in the west of Abu Dhabi, which will require a $435 million outlay for its infrastructure. The development of the country’s automotive industry is expected to foster the demand for prepregs in the UAE. This, in turn, will augment the prepreg market’s growth.

Additionally, growth can also be seen in the consumer electronics and wind energy sectors as well. The UAE is a regional hub and re-exporter of devices in the region. Also, there are ongoing efforts to develop an onshore wind farm in Abu Dhabi, with a capacity of up to 30 MW. This is expected to fuel the demand for prepregs in the country, consequently accelerating the market growth in the years to come.

COMPETITIVE OUTLOOK

Teijin Limited, SGL Group, Unicarbon, Toray Industries Inc, Mitsubishi Rayon Co Ltd, Zyvex Labs, Gurit Holding AG, and Royal Ten Cate NV are some of the prominent companies present in the prepreg market.