The report presents an in-depth assessment of the Africa and Middle-East Automotive Glass Fiber Composites Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Africa and Middle-East Automotive Glass Fiber Composites investments from 2021 till 2025. This research report also provides post COVID-19 impact analysis of the Africa and Middle-East Automotive Glass Fiber Composites industry.
Africa and Middle-East Automotive Glass Fiber Composites market is growing at a CAGR of 4.5% during the forecast period (2021-2025).
The Africa and Middle-East Automotive Glass Fiber Composites market is highly competitive and consists of a number of major players. Top Companies like 3B-Fiberglass, Base Group, BASF, BMW, Cytec Industries, Delphi, Far-UK, General Motor Company, Gurit, John Manville
(Special Offer: Get flat 15% discount on this report)
Click the link to get a free Sample Copy of the Report:
Industry News And Developments:
In June 2019, Morocco saw its first African plant in the city of Kenitra. This new facility will manufacture Electric Power Steering (EPS) systems for Group PSA, as well as Driveline systems for FCA, Groupe PSA, and Renault-Nissan-Mitsubishi Alliance. The company expects to hire around 500 people at the Kenitra plant by 2020.
Scope of the Report
– For a continent with 1 billion inhabitants, Africa only occupies 1% of the global new car sales. Also, 85% of the total new cars are sold in South Africa. The sub-Saharan region where there is a potential for upto 3-4 million vehicles from the existing number of around 425,000 is expected to offer high returns to players who are willing to seriously enter the region. The level of infrastructure is also increasing in Africa, which is likely to aid the automotive market of the region.
– Strategic alliances between car manufacturers, glass fiber, and resin suppliers are the trends that have a direct impact on the dynamics of the automotive composites industry. Within the intermediates type, short fiber thermoplastic (SFT), long fiber thermoplastic (LFT), and continuous fiber thermoplastic (CFT) are the major ones that are used in automotive applications. SFT is expected to be the largest market by value, mainly driven by applications in powertrain and engine components applications, which feature small complex-shaped parts.
Key Market Trends
Increasing Adoption of Glass Fiber Composites in Automobiles
Although automobiles have been around for more than a century, the materials they are made of have mostly remained the same. Only since the past few decades that advanced materials, ranging from magnesium alloys to glass fiber composites, have made their way into new-generation cars. Advanced materials, such as glass fiber composites, are essential for boosting modern cars’ fuel economy and maintaining performance and safety. Since it takes lesser energy to accelerate a lighter object than a heavier one, lightweight materials offer great potential for increasing vehicle efficiency. A 10% reduction in the vehicle’s weight can transpire to a 6-8% increase in fuel economy.
The African Market Has High Growth Prospects
Companies are expected to benefit from reforms and policies after the formation of the Association of African Automotive Manufacturers (AAAM). For instance, any car company that sets up a local assembly plant in Nigeria, Kenya, and Ghana, could get tax holidays of up to 10 years and duty exemptions.
In the early 2010s, the automotive industry in Africa is plagued by the import of used cars from other countries. For instance, in Japan, where strict vehicle inspections force cars out of circulation after just a few years, vehicles are exported to African countries. However, today, second-hand vehicles in countries in Ethiopia are hugely limited due to high import duties and limited supply of vehicles pushing for newer automotive and EPS manufacturing factories.
Browse the Full report description and TOC at:
What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Africa and Middle-East Automotive Glass Fiber Composites Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
Media Contact Us:
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687