Market Trends of Middle-East and Africa Aramid Fiber Industry
This section covers the major market trends shaping the MEA Aramid Fibers Market according to our research experts:
Aerospace and Defence Sector Dominated the Market
- Aramids are used for both components and structural applications, in all aircraft and spacecraft, ranging from hot air balloons, gliders, etc., to fighter planes, passenger airliners, and space shuttles. Applications of aramid fibers are generally in wing assemblies, helicopter rotor blades, seat propellers, and enclosures for instruments and internal parts.
- With ever-increasing fuel costs and environmental lobbying, commercial flying is under constant pressure to improve performance, and weight reduction is a key factor in the equation. Aramid fiber presented a solution to this equation as it is lightweight and promotes fuel efficiency. Other positive attributes include excellent fatigue and corrosion resistance and good impact resistance.
- Every year, the aerospace industry uses a higher proportion of aramid fibers in the construction of each new generation of aircraft due to the provision of an all-weather operation of commercial aircraft and enhanced vision systems. Moreover, characteristics, such as temperature stability and durability, will further fuel the growth of the aerospace composites market over the coming years.
- With the increasing security concerns and increasing commercial use of aircraft as a medium of conveyance, the demand for aircraft has been increasing across the region. With this, various aircraft production orders have been lined up for delivery in the coming years.
- Hence, with the production of aircraft to deliver the aircraft orders from the defense as well as the aviation industry, the demand for aramid fiber is projected to increase in the region, during the forecast period.
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Saudi Arabia to Dominate the Market
- Infrastructure development and technological advances are primarily being focused by the Saudi Arabian aerospace industry to smoothen the market entry for multinational players into the country.
- Almost 60% of the total aircraft parts imported by Saudi Arabia are from the United States. Most of the aircrafts used in the Saudi Arabia defense sector are also manufactured in the United States and require timely MRO services. This provides an opportunity for the US manufacturers to enter the Saudi Arabia aerospace MRO market, and also provides a growth opportunity for the aramid fiber, which is used in the aerospace industry.
- Major players, such as Bombardier, Bell, Cessna, and Rockwell Collins have entered the Saudi Arabia aerospace sector and many other players have been entering the market by means of joint ventures with the domestic companies.
- The other major end-user industry is automotive. Saudi Arabia is focusing on establishing itself as the new automotive hub in the Middle East. Though the country is a large importer of vehicles and auto parts, it is now trying to attract original equipment manufacturers (OEMs) to open their production plants in the country to develop the domestic automotive industry.
- Furthermore, the country is experiencing a steady growth in new car sales, with the market expecting to reach one million units by 2020, growing at a rate of 6.7% per annum.
- Overall, with the growing demand from various end-user industries is projected to drive the market in the country during the forecast period.
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