Middle East & Africa Composite Strengthening Systems Market Size & Outlook
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MEA composite strengthening systems market highlights
- The MEA composite strengthening systems market generated a revenue of USD 7.8 million in 2023.
- The market is expected to grow at a CAGR of 7.7% from 2024 to 2030.
- In terms of segment, fiber-reinforced polymer (frp) was the largest revenue generating product in 2023.
- Fiber-Reinforced Polymer (FRP) is the most lucrative product segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 7.8 million |
| Market revenue in 2030 | USD 13.0 million |
| Growth rate | 7.7% (CAGR from 2024 to 2030) |
| Largest segment | Fiber-reinforced polymer (frp) |
| Fastest growing segment | Fiber-Reinforced Polymer (FRP) |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fiber-Reinforced Polymer (FRP), Fabric-Reinforced Cementitious Matrix (FRCM) |
| Key market players worldwide | Simpson Strong-Tie Company |
Other key industry trends
- In terms of revenue, MEA region accounted for 4.8% of the global composite strengthening systems market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 114.0 million by 2030.
Fiber-reinforced polymer (frp) was the largest segment with a revenue share of 80.77% in 2023. Horizon Databook has segmented the Middle East & Africa composite strengthening systems market based on fiber-reinforced polymer (frp), fabric-reinforced cementitious matrix (frcm) covering the revenue growth of each sub-segment from 2018 to 2030.
Middle East & Africa is expected to reach USD 12.9 million by the end of 2030.
The rapid urbanization in major economies of the Middle East and Africa such as Saudi Arabia, UAE, and South Africa are expected to contribute to increased demand for construction and infrastructure solutions, including composite strengthening systems.
In addition, government policies and initiatives to enhance infrastructure and ensure structural safety is projected to drive the demand for advanced strengthening solutions over the forecast period.
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Composite Strengthening Systems Market Scope
Composite Strengthening Systems Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Simpson Strong-Tie Company | View profile | 1001-5000 | Pleasanton, California, United States, North America | https://www.strongtie.com |
Middle East & Africa Composite Strengthening Systems Market Outlook Share, 2023 & 2030 (US$M)
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