Middle East and Africa Elastomers Market

 Middle East and Africa Elastomers Market (2023-2028)

The Middle East and Africa Elastomers Market are expected to grow at a CAGR of over 8% in the foreseen period between 2023-2028

Impact of the COVID-19 pandemic on the MEA Elastomers Market

The Middle East and Africa are one of the least affected regions by the coronavirus pandemic. But due to severe impacts in the western hemisphere, the majority of the investments were put on hold, and it has negatively affected the demand for Elastomers across various end-use industries such as aerospace & defense, automotive & transportation, wind energy, construction & infrastructure, and pipes & tanks. The disruption in the supply chain resulted in delays or non-arrival of raw materials, disrupted financial flows, and declining morale among production line workers have compelled aircraft and automobile manufacturers to operate at reduced or sometimes at zero capacities. This has led to a reduction in demand for Elastomers. However, the demand from the packaging industry increased in this period which led to more production of Elastomers. The market is expected to recover from 2021 onwards. The construction works which were supposed to be completed have been rescheduled and will likely be completed a year later.

Drivers and Restraints of the Middle East and Africa Elastomers Market

The stringent policies regarding the environment have made it difficult for plastics and opened doors for the growth of the elastomers market in the Middle East and Africa. PE-based Elastomers is the highest contributor in the Middle East and African region, thus PE-based composites add to the overall growth of the industry. Surging demand for lightweight material in the automotive sector that will lead to fuel efficiency is also a growth factor. Composite materials also come with ease of maintenance, which is preferred in the manufacturing sector. The usage of Elastomers in aerospace, and wind energy turbines is growing, and these options often come cheap as compared to their counterparts that help in the growth of the industry. Environmental concerns have also raised the production of carbon-based Elastomers.

The elastomers market industry is affected by volatile prices and alternatives. The Middle East and African region are one of the largest markets of the Elastomers market but the Asian Pacific region is growing the fastest and more growth can be expected in the Asia Pacific. On top of this, the existing materials in the form of aluminum and steel are tried and tested and hold a firm grip in the market that restraints the growth. The mechanical strength of these elastomers is a major drawback that hinders the growth of the local industry.

The elastomers market has been segmented into the following categories until 2028.

On the basis of Type

1. Thermoset Elastomers

2. Thermoplastic Elastomers

On the basis of the Application

1. Automotive

2. Consumer Goods

3. Medical

4. Industrial

5. Electrical and Electronics

Wood-plastic composite materials are in increasing in demand in the Middle East region, especially in the UAE. This surge in demand is likely to drive the WPC market in the area. The rapid urbanization that is taking place in many Saharan and Sub-Saharan regions has sparked a demand for inflexible materials and elastomers market. The aerospace industry is rapidly growing in the Middle East and Africa region triggering high demands for lightweight and rigid materials. In this scenario, the elastomers come in handy as it solves both problems at an affordable price.

Middle East and Africa Elastomers Market Regional Analysis :

The Middle East and Africa are one of the largest markets for elastomers thanks to the huge investments in the pharmaceutical sector. The importance to safe packaging has increased and plastics are becoming second choices to Elastomers.

The Middle East and African regulations are forcing OEMs to reduce the emissions of CO2 by vehicles and further regulations are expected towards the fuel products in the coming years. The UAE commercial infrastructure is a booming industry as it has taken up luxury projects in the past few years.

Qatar has also ramped up its infrastructure industry in the preparation for the upcoming global events, which has boosted the local industry.

Key players operating in the MEA Elastomers market are

1. Polyplank
2. Gurit
3. Cytec Industries Inc.
4. 3B-Fiberglass
5. ResinTech Inc.,