Growing Construction Demand in the Middle East and Africa Region
The construction sector in the Middle East and North Africa (MENA) region is one of the fastest growing globally. The UAE and Qatar are expected to remain bright spots for the construction industry throughout 2018 as they are pressing ahead with projects before of the Expo 2020 and FIFA World Cup 2022, respectively. The UAE’s building and infrastructure contract value has increased from USD 36,453 million in 2016 to USD 36,984 million in 2017. Glass fiber reinforced polymer (GFRP) is widely used in construction industry for non-structural elements, such as facade, panels, piping, and channels. With the growth of the construction sector in the region, the demand for glass fiber reinforced polymer is expected to grow during the forecast period.
Increasing Demand for Polyester Resin
Polyester resins have the highest market share for GFRP market in 2017, owing to their use in the construction, pipes & tanks and electronics applications. Properties, such as chemical and mechanical resistance, UV resistance, high filling capacity, good removal, and shrinkage resistance are boosting the demand for polyester globally. In automotive industry, GFRP is primarily used to reduce weight. The growth of the automotive industry in countries, such as China, United States, Japan, Germany are boosting the demand for polyester resin over the forecast period.
Asia-Pacific to Dominate the Market
Asia-pacific has been dominating the market for global glass fiber reinforced polymer in 2017. The growth of GFRP in the region is mainly driven by the countries, such as China, Japan, India, and South Korea. The growing automotive industry in these countries is driving the demand for GFRP. The total production of vehicles of China increased from 28,118,794 units in 2016 to 29,015,434 units in 2017. Hence, the increased emphasis on automotive sector along with the growth of other end-users across the region is expected to augment the growth of the global glass fiber reinforced polymer market during the forecast period.
Major Players: Jushi Group Corporation, Owens Corning, Chongqing Polycomp International Corporation, PPG Industries Inc., Johns Manville Corporation, amongst others.
Key Developments in the Market
May 2018: Owens Corning had announced that it signed an agreement to acquire Pittsburgh Corning, the world’s leading producer of cellular glass insulation systems for commercial and industrial markets
Reason to Purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Which application is expected to dominate the market
Which regions are expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
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1.1 Research Phases
1.2 Scope of the Report
1.3 Study Deliverables
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness- Porters Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1.1 Growing Construction Activities in Middle East and Africa Region
4.1.2 Increasing Usage in Automotive Industry for Weight Reduction
4.2.1 High Recyclability Issues
4.2.2 Other Constraints
4.3.1 Increasing Application in Marine Industry
4.3.2 Rising Demand for Wind Energy Composites
5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By Resin Type
5.1.2 Vinyl Ester
5.1.5 Others (PEEK Resin, Phenolic Resin etc.)
5.2 By Process
5.2.1 Manual Process
5.2.2 Compression Molding
220.127.116.11 Sheet Molding Compound Process
18.104.22.168 Glass Mat Thermoplastic Process
5.2.3 Continuous Process
5.2.4 Injection Molding
5.3 By End-users
5.3.4 Construction & Infrastructure
5.3.5 Electrical & Electronics
5.3.6 Aerospace & Defense
5.3.7 Others (Healthcare, Consumer Goods)
6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1.4 South Korea
6.1.5 ASEAN countries
6.1.6 Rest of Asia-Pacific
6.2.4 United Kingdom
6.2.7 Rest of Europe
6.3 North America
6.3.1 United States
6.3.4 Rest of North America
6.4 South America
6.4.3 Rest of South America
6.5 Middle East & Africa
6.5.1 South Africa
6.5.2 Saudi Arabia
6.5.3 Rest of Middle East & Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, Recent Developments)
9.1 Jushi Group Corporation
9.2 Chongqing Polycomp International Corporation
9.3 Owens Corning
9.4 PPG Industries Inc.
9.5 Johns Manville Corporation
9.6 Saint-Gobain S.A.
9.7 Nippon Sheet Glass Co. Ltd.
9.8 Binani Industries Ltd.
9.9 BFG Industries
9.10 China Beihai Fiberglass Co., Ltd.
9.11 Nitto Boseki Co., Ltd.
9.12 Jiangsu Jiuding New Material Co., Ltd.
*List not Exhaustive
** Subject to availability on public Domain
- Jushi Group Corporation
- Chongqing Polycomp International Corporation
- Owens Corning
- PPG Industries Inc.
- Johns Manville Corporation
- Saint-Gobain S.A.
- Nippon Sheet Glass Co. Ltd.
- Binani Industries Ltd.
- BFG Industries
- China Beihai Fiberglass Co. Ltd.
- Nitto Boseki Co. Ltd.
- Jiangsu Jiuding New Material Co. Ltd.