Market Forecast by Countries (Saudi Arabia, UAE, Qatar, Kuwait, Oman, Bahrain and Turkey), By Type (Epoxy, Polyester, Vinyl Ester, Polyurethane, Others), By Method (Moulding Method, Pultrusion Method, Layup, Others), By Application (Pipes and Tanks, Wind Power Turbines, Storage Containers, Roofs, Floor Gratings, Steps and Stairs, Switch Actuators, Others), By End-Use (Building and Construction, Transportation, Electrical and Electronics, Oil and Gas, Mining, Water and Wastewater, Others) And Competitive Landscape
Product Code: ETC402281 | Publication Date: Aug 2022 | Updated Date: Aug 2024 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 250 | No. of Figures: 50 | No. of Tables: 25 | |
Report Name | Middle East Glass Reinforced Plastic market |
Forecast period | 2024-2030 |
CAGR | 7.6% |
Growing Sector | Construction |
The Middle East Glass Reinforced Plastic market report thoroughly covers the market by type, by method, by application by End-Use and by countries. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Middle East Glass Reinforced Plastic (GRP) market is experiencing notable growth driven by the increasing demand for lightweight, durable, and corrosion-resistant materials in construction, automotive, and industrial applications. GRP, known for its strength-to-weight ratio and resistance to environmental factors, is being increasingly adopted in infrastructure projects, including pipelines, tanks, and structural components. The market is supported by advancements in manufacturing technologies and rising investments in infrastructure development across the region. However, challenges such as the high initial cost of GRP materials and competition from alternative materials could impact market dynamics. Overall, the Middle East GRP market presents significant opportunities for growth, fueled by ongoing urbanization and industrialization trends.
According to 6Wresearch, Middle East Glass Reinforced Plastic market size is projected to grow at a CAGR of 7.6% during 2024-2030. The growth of the Middle East Glass Reinforced Plastic (GRP) market is primarily driven by several key factors. The region's rapid urbanization and infrastructure development projects are creating a strong demand for GRP's lightweight, durable, and corrosion-resistant properties, particularly in construction and transportation sectors. Additionally, the push towards sustainable and energy-efficient solutions supports the adoption of GRP, given its benefits in reducing maintenance and operational costs. Technological advancements in GRP manufacturing and increased investments in industrial and utility sectors further bolster market growth. The rising focus on replacing traditional materials with GRP to enhance performance and reduce long-term expenses also contributes significantly to market expansion.
Government initiatives in the Middle East are playing a crucial role in the growth of the Glass Reinforced Plastic (GRP) market. Various national and regional policies are focused on infrastructure development and modernization, which drive demand for GRP materials due to their durability and efficiency. Investments in large-scale projects such as transportation networks, water management systems, and energy infrastructure are supported by government programs aimed at enhancing sustainability and reducing maintenance costs. Consistently, these actions have boosted the Middle East Glass Reinforced Plastic Market Share. Additionally, governments are incentivizing the use of advanced materials like GRP through regulatory frameworks and financial incentives, further stimulating market growth and adoption across diverse sectors.
Key companies in the Middle East Glass Reinforced Plastic (GRP) market include major industry players such as Al Reyami Group, which offers a wide range of GRP products for various applications, and ZCL Composites, known for its high-quality GRP tanks and industrial solutions. Additionally, Fiberglass Reinforced Plastics (FRP) companies like Sika AG and Hempel Group are significant contributors, providing advanced GRP solutions for construction and marine industries. In addition, the businesses’ grasp massive Middle East Glass Reinforced Plastic Market Revenues. Further, these companies leverage their expertise in manufacturing and innovation to meet the growing demand for GRP materials, driving market advancements and expanding their presence in the region.
The future of the Middle East Glass Reinforced Plastic (GRP) market appears promising, with continued growth expected due to ongoing urbanization and infrastructure development. Advancements in GRP technology are likely to enhance product performance and cost-efficiency, further boosting adoption across various sectors. Increased focus on sustainability and environmental impact will drive demand for GRP's eco-friendly attributes, such as reduced maintenance and longer lifespan. Moreover, as regional governments continue to invest in large-scale projects and incentivize advanced materials, the GRP market is poised for expansion. Innovations in manufacturing and the emergence of new applications will likely open additional growth avenues, solidifying GRP's role in the region's evolving infrastructure landscape.
According to Ravi Bhandari, Research Head, 6Wresearch, in the Middle East, Glass Reinforced Plastic (GRP) finds diverse applications across various industries due to its strength, durability, and resistance to environmental factors. GRP is widely used in constructing pipes and tanks for water and wastewater management, thanks to its corrosion resistance. In the renewable energy sector, GRP is essential for manufacturing wind power turbines, where its lightweight properties enhance efficiency. Additionally, GRP is employed in storage containers, offering a robust solution for handling and storing chemicals and other materials. It is also utilized in roofing systems, floor gratings, and steps and stairs for commercial and industrial buildings, providing a durable and low-maintenance alternative to traditional materials. Furthermore, GRP's versatility extends to switch actuators, where it contributes to the reliable operation of electrical and control systems.
In the Middle East Glass Reinforced Plastic (GRP) market, key countries include Saudi Arabia, the UAE, Qatar, and Kuwait. Saudi Arabia leads with significant infrastructure projects and industrial activities, driving demand for GRP in construction and utilities. The UAE, with its focus on modernizing infrastructure and sustainable building practices, presents a strong market for GRP applications in various sectors. Qatar, investing heavily in large-scale infrastructure and energy projects, also represents a growing market for GRP materials. Kuwait, with its ongoing development initiatives and industrial expansion, contributes to the regional demand for GRP products. Together, these countries are pivotal in shaping the growth and evolution of the GRP market in the Middle East.
The report offers a comprehensive study of the following market segments
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Middle East Glass Reinforced Plastic Market Overview |
3.1 Middle East Regional Macro Economic Indicators |
3.2 Middle East Glass Reinforced Plastic Market Revenues & Volume, 2020 & 2030F |
3.3 Middle East Glass Reinforced Plastic Market - Industry Life Cycle |
3.4 Middle East Glass Reinforced Plastic Market - Porter's Five Forces |
3.5 Middle East Glass Reinforced Plastic Market Revenues & Volume Share, By Countries, 2020 & 2030F |
3.6 Middle East Glass Reinforced Plastic Market Revenues & Volume Share, By Type, 2020 & 2030F |
3.7 Middle East Glass Reinforced Plastic Market Revenues & Volume Share, By Method, 2020 & 2030F |
3.8 Middle East Glass Reinforced Plastic Market Revenues & Volume Share, By Form, 2020 & 2030F |
3.9 Middle East Glass Reinforced Plastic Market Revenues & Volume Share, By End-Use, 2020 & 2030F |
4 Middle East Glass Reinforced Plastic Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Middle East Glass Reinforced Plastic Market Trends |
6 Saudi Arabia Glass Reinforced Plastic Market, 2020 - 2030 |
6.1.1 Saudi Arabia Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2020 - 2030 |
6.1.2 Saudi Arabia Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2020 - 2030 |
6.1.3 Saudi Arabia Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2020 - 2030 |
6.1.4 Saudi Arabia Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2020 - 2030 |
7 UAE Glass Reinforced Plastic Market, 2020 - 2030 |
7.1 UAE Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2020 - 2030 |
7.2 UAE Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2020 - 2030 |
7.3 UAE Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2020 - 2030 |
7.4 UAE Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2020 - 2030 |
8 Qatar Glass Reinforced Plastic Market, 2020 - 2030 |
8.1 Qatar Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2020 - 2030 |
8.2 Qatar Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2020 - 2030 |
8.3 Qatar Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2020 - 2030 |
8.4 Qatar Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2020 - 2030 |
9 Kuwait Glass Reinforced Plastic Market, 2020 - 2030 |
9.1 Kuwait Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2020 - 2030 |
9.2 Kuwait Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2020 - 2030 |
9.3 Kuwait Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2020 - 2030 |
9.4 Kuwait Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2020 - 2030 |
10 Oman Glass Reinforced Plastic Market, 2020 - 2030 |
10.1 Oman Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2020 - 2030 |
10.2 Oman Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2020 - 2030 |
10.3 Oman Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2020 - 2030 |
10.4 Oman Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2020 - 2030 |
11 Bahrain Glass Reinforced Plastic Market, 2020 - 2030 |
11.1 Bahrain Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2020 - 2030 |
11.2 Bahrain Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2020 - 2030 |
11.3 Bahrain Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2020 - 2030 |
11.4 Bahrain Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2020 - 2030 |
12 Turkey Glass Reinforced Plastic Market, 2020 - 2030 |
12.1 Turkey Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2020 - 2030 |
12.2 Turkey Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2020 - 2030 |
12.3 Turkey Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2020 - 2030 |
12.4 Turkey Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2020 - 2030 |
13 Rest of Middle East Glass Reinforced Plastic Market, 2020 - 2030 |
13.1 Rest of Middle East Glass Reinforced Plastic Market, Revenues & Volume, By Type, 2020 - 2030 |
13.2 Rest of Middle East Glass Reinforced Plastic Market, Revenues & Volume, By Method, 2020 - 2030 |
13.3 Rest of Middle East Glass Reinforced Plastic Market, Revenues & Volume, By Application, 2020 - 2030 |
13.4 Rest of Middle East Glass Reinforced Plastic Market, Revenues & Volume, By End-Use, 2020 - 2030 |
14 Middle East Glass Reinforced Plastic Market Key Performance Indicators |
15 Middle East Glass Reinforced Plastic Market - Opportunity Assessment |
15.1 Middle East Glass Reinforced Plastic Market Opportunity Assessment, By Countries, 2020 & 2030F |
15.2 Middle East Glass Reinforced Plastic Market Opportunity Assessment, By Type, 2020 & 2030F |
15.3 Middle East Glass Reinforced Plastic Market Opportunity Assessment, By Method, 2020 & 2030F |
15.4 Middle East Glass Reinforced Plastic Market Opportunity Assessment, By Application, 2020 & 2030F |
15.5 Middle East Glass Reinforced Plastic Market Opportunity Assessment, By End-Use, 2020 & 2030F |
16 Middle East Glass Reinforced Plastic Market - Competitive Landscape |
16.1 Middle East Glass Reinforced Plastic Market Revenue Share, By Companies, 2023 |
16.2 Middle East Glass Reinforced Plastic Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Company Profiles |
18 Recommendations |
19 Disclaimer |