Product ID: UCMIR15E2546
Report ID:
UCMIR15E2546 |
Region:
Regional |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The Middle East & Africa (MEA) polyurethane market for the automotive industry demonstrated substantial growth, surpassing a valuation of USD 270 million in 2017. The industry is poised for further expansion, with projected consumption exceeding 91 kilo tons by 2024. This growth can be attributed to the increasing demand for lightweight and durable materials in automotive manufacturing. Polyurethane, known for its versatility and superior mechanical properties, is witnessing heightened adoption for applications such as interior components, exterior panels, and cushioning materials. The market's evolution is also driven by factors like rising disposable income, urbanization, and technological advancements in the automotive sector across the MEA region. As automotive manufacturers seek innovative solutions to enhance efficiency and sustainability, the MEA polyurethane market is expected to play a pivotal role in shaping the future of automotive materials.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Specialty Chemicals by segment aggregation, the contribution of the Specialty Chemicals in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIR15E2546