Bio-lubricants Market End-use Industry, By Others
| Label | USD Million |
|---|---|
| 2018 | 19.58111443696773 USD Million |
| 2019 | 20.661210938126843 USD Million |
| 2020 | 21.79035360198859 USD Million |
| 2021 | 23.009108436883334 USD Million |
| 2022 | 24.28361679980321 USD Million |
| 2023 | 25.615235840029435 USD Million |
| 2024 | 27.005211388869615 USD Million |
| 2025 | 28.45465405571622 USD Million |
| 2026 | 29.96451242315689 USD Million |
| 2027 | 31.535543046094563 USD Million |
| 2028 | 33.28783039921097 USD Million |
| 2029 | 35.11474076999135 USD Million |
| 2030 | 37.016974429286265 USD Million |
| 2031 | 38.99488003062075 USD Million |
| 2032 | 41.04838868185494 USD Million |
Data Source: Wantstats Repository
Market Dynamics
The demand of GCC ballistic composites is increasing, fueled by the region’s rising security concerns and military spending. Ballistic composites are materials that are used in the manufacturing of military and security equipment as well as other safety products. They offer a higher level of protection than traditional materials and are able to withstand high impact forces. Ballistic composites are made up of a combination of materials, usually an outer layer of fabric, a blanket of adhesive, and an inner layer of very dense material, such as Kevlar. The GCC, comprising the nations of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, has experienced increased threats from various domestic and international organizations. This has led to an upsurge in the demand for ballistic composites, as ballistic equipment serves to protect the homeland and its citizens. The GCC ballistic composites market can be categorised into two types – ceramic composites and fiberglass composites. Ceramic composites comprise of layers of ceramic tiles and composite fibers. These composites provide enhanced protection against shrapnel, bullet cores, and other small projectiles, offering a much higher level of protection and reduced bulk compared to other ballistic solutions.
Fiberglass composites are produced from a combination of fibers, such as aramid fibers and polyethylene fibers, woven into a fabric and combined with adhesives. The combination of these materials provides effective protection against bullet cores, shrapnel, and low-level fragmentations. This segment of the materials market is expected to show strong growth in the coming years, with the demand driven by military, security, and safety essential applications. The increasing involvement of the GCC in regional and global conflicthas led to enhanced defense requirements. The introduction of technologies suc bayonet HD-R panel for body armors, steel plates ballistic vests and helmets, and bullet-resistant windows will add to the demand for composites. Additionally, businesses are now looking increasingly towards protective armors for protection against terrorist incidences. The GCC ballistic composites market is populated with established players such as DSM, Royal TenCate, Hyosung, Contrarian, and SABIC International, as well as some smaller manufacturers. Several strategies are being implemented by companies to enhance their market presence, such as expansions, acquisitions, and partnerships. For instance, DSM has recently increased its production capacity in Saudi Arabia, Kuwait, and the United Arab Emirates to capitalize on regional opportunities.
Overall, the demand for ballistic composites in the GCC is expected to remain strong over the next decade, due to increased security threats and investment in military equipment. Government initiatives to develop the region’s military infrastructure and the growing number of manufacturers in the region are expected to further boost performance.
Research Methodology
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2023.
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