| Label | Composite | Non-Composite |
|---|---|---|
| 2019 | 46.67 USD Mn | 2.93 USD Mn |
| 2020 | 46.17 USD Mn | 2.86 USD Mn |
| 2021 | 46.39 USD Mn | 2.84 USD Mn |
| 2022 | 46.81 USD Mn | 2.82 USD Mn |
| 2023 | 47.46 USD Mn | 2.82 USD Mn |
| 2024 | 48.25 USD Mn | 2.83 USD Mn |
| 2025 | 49.48 USD Mn | 2.86 USD Mn |
| 2026 | 51.09 USD Mn | 2.92 USD Mn |
| 2027 | 52.74 USD Mn | 2.97 USD Mn |
| 2028 | 54.81 USD Mn | 3.04 USD Mn |
| 2029 | 57.35 USD Mn | 3.13 USD Mn |
| 2030 | 60.25 USD Mn | 3.24 USD Mn |
Data Source: Wantstats Repository
The Middle East & Africa (MEA) has been experiencing rapid growth in the pitch-based carbon fibers market in recent years. This region, which comprises diverse countries with varying economic and industrial landscapes, has been witnessing a high demand for these high-performance fibers from various sectors such as aerospace, defense, automotive, and construction. The MEA region has vast oil reserves, which serve as the primary source for pitch-based carbon fibers. This gives the region a strategic advantage in terms of production and supply of these fibers. The presence of leading companies such as SABIC in Saudi Arabia and TAEKWANG in South Korea has also contributed to the growth of the market in this region. The type of pitch-based carbon fibers available in the MEA market includes precursor-based, pitch-based, and isotropic. Precursor-based carbon fibers are manufactured from synthetic or natural polymers, while pitch-based carbon fibers are made from petroleum-based pitches. Isotropic carbon fibers are made from isotropic pitch obtained from coal or petroleum. These different types of fibers cater to the diverse needs of industries in the MEA region. The demand for pitch-based carbon fibers in the MEA region is mainly driven by the aerospace and defense sectors.
These fibers possess high strength and stiffness, making them ideal for use in aircraft and military equipment. The increasing expenditure on defense and aerospace equipment in countries such as Saudi Arabia, UAE, and Qatar has led to a surge in demand for pitch-based carbon fibers. Furthermore, the automotive industry in the MEA region has also been a major contributor to the growth of the pitch-based carbon fibers market. The growing trend of lightweight vehicles to improve fuel efficiency has increased the demand for these fibers in the production of automobile parts such as body panels, chassis, and engine components. The construction industry in the MEA region has also been adopting pitch-based carbon fibers for reinforcing materials in concrete, bridges, tunnels, and buildings. These fibers offer superior properties such as high tensile strength, corrosion resistance, and durability, making them a popular choice among contractors in the region. In conclusion, the MEA region has been witnessing a significant demand for pitch-based carbon fibers due to the growth of various industries and the availability of raw materials.
With continuous advancements in technology and innovations in manufacturing processes, it is expected that the MEA pitch-based carbon fibers market will continue to grow in the coming years.
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2024.
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I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
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Middle East & Africa Pitch-Based Carbon Fibers Market, By Type
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