NEW YORK, Sept. 6, 2016 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the glass fiber market in the Middle East looks good with opportunities in the pipe and tank, construction, transportation, marine and others. The glass fiber market in Middle East is forecast to grow at a CAGR of 5.5% by value from 2016 to 2021. The major driver for market growth is the rise in demand for glass fiber composites made products, such as pipe and tank, grating, bathtub, and FRP (fiber reinforced plastic) panels.
In this market, pipe and tank, construction, transportation, and marine are the major end use industries of glass fiber. Lucintel predicts that the demand for glass fiber in construction application is expected to experience the highest growth rate in the forecast period. Growing demand for corrosion resistance, lightweight, flexibility and durability of FRP products is the major driver for glass fiber in the construction industry.
Within the Middle East glass fiber market, pipe and tank is expected to remain as the largest market by value and volume consumption. Growth of oil and gas exploration activities and construction of water supply system is the major driver for glass fiber market for this segment. High temperature and humidity levels coupled with high soil salinity are expected to spur growth for this segment over the forecast period.
Saudi Arabia is expected to remain the largest market during the forecast period in terms of value and volume, due to growth in end use industries. Saudi Arabia, Egypt, UAE, and Iran are expected to show above-average growth during the forecast period by virtue of growing pipe and tank, and construction markets. Increased investment in large-scale infrastructure and industrial projects are the major force that drives the pipe and tank and construction market, especially in Saudi Arabia and UAE.
For market expansion, the report suggests new product development, where the unique characteristics of glass fiber can be capitalized. The report further suggests the companies are expanding their capacity for driving growth.
Emerging trends in the Middle East glass fiber market, which have a direct impact on the dynamics of the industry, are the cost optimization and performance enhancement of high performance glass fibers. Jushi Egypt Fiberglass, Abahsian Fiberglass, Sharico, and Eastern Petrochemical Company are among the major players of glass fiber market in the Middle East region.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the Middle East glass fiber market by end use industries and country and has come up with a comprehensive research report, "Growth Opportunities in the Middle East Glass Fiber Market 2016-2021: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for growth opportunities in the Middle East glass fiber market by end use industries and country as follows:
By end use industries (Value ($M) and Volume (M lbs) shipment analysis for 2010 – 2021)
Pipe and Tank Construction Transportation Marine Others
By country (Value ($M) and Volume (M lbs) shipment analysis for 2010 – 2021):
Saudi Arabia UAE Egypt Iran Others
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for glass fiber in the Middle East region by end use industry and country?
Q.2. Which product segments will grow at a faster pace and why?
Q.3. Which country will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are emerging trends in this market and reasons behind them?
Q.7. What are some changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being implemented by key companies for business growth?
Q.10. What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via materials / product substitution?
Q.11. What M & A activities has transpired in the last 5 years in this market and what is its impact on the industry?
This unique report from Lucintel will provide you with valuable information, insights, and tools needed to identify new growth opportunities and operate your business successfully in this market. This report will save hundreds of hours of your own personal research time and will significantly benefit you in expanding your business in this market. In today's stringent economy, you need every advantage that you can find.
To make business, investment, and strategic decisions, you need timely, useful information. This market report fulfills this core need and is an indispensable reference guide for multinational materials suppliers, product manufacturers, investors, executives, distributors, and many more that operate in this market.
Some of the features of "Growth Opportunities in the Middle Eastern Glass Fiber Market: 2016-2021 Trends, Forecast, and Market Analysis" include:
Market size estimates: Middle Eastern glass fiber market size estimation in value ($M) and Volume (M lbs). Trend and forecast analysis: Middle Eastern glass fiber market trend (2010-2015) and forecast (2016-2021) by segment.Segmentation analysis: Middle Eastern glass fiber market size by various applications such as transportation, marine, pipe & tank, construction, and others; both in terms of value and volume.Growth opportunities: Analysis on growth opportunities in different segment and regions. Strategic analysis: This includes M&A, new product development, and expansion strategies of manufacturers in the Middle Eastern glass fiber market.Emerging applications: Emerging applications of Middle Eastern glass fiber market in various markets. Analysis of competitive intensity of the industry based on Porter's Five Forces model
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